Stock Market News: The Indian indices finally witnessed the long-awaited profit-booking after some hiccups in the US-China trade talks scheduled on December 15th. The BSE Sensex crashed 247 points and closed at 40,239 levels while the Nifty-50 index shed 80 points after closing at 11,856 levels. Bank Nifty index went off 156 points and closed at 31,160 levels.
Giving outlook of the Indian stock market Prakash Pandey, MD & CEO at Plutus Advisors said, "Overall the market is bullish. Nifty is broadly trading in the range of 11,850 to 12,150. I see this range holding for next few trading sessions and any dip in the markets should be seen as a strong buying opportunity for the share market investors."
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YES Bank shares crashed 10.32 per cent in the intraday trade. Shares of PC Jeweller, IIFL Finance, JSW Energy, Dr. Lal Pathlabs, NBCC (India), Reliance Capital, Dewan Housing Finance Limited or DHFL, Oberoi Realty and GAIL were among the major losers after the closing bell trade session while shares of Indiabulls Housing Finance, Reliance Power, Relaxo Footwears, KEC International and Adani Gas were among the major gainers in the intraday trade session.
Banking stocks had a mixed fortune as Banking major Yes Bank share price nosedived over 10 per cent, shares of RBL Bank went down 4.24 per cent, Axis Bank shares dipped 2.33 per cent, IndusInd Bank stocks went down 2.55 per cent while SBI share price went off near 1 per cent. Shares of City Union Bank, HDFC Bank and ICICI Bank were among the gaining stocks in the banking sector.
Among the major Asian markets, the Japanese Nikkei went off 0.09 per cent, South Korean Kospi added 0.45 per cent, Hang Seng went down 0.22 per cent while the Shanghai markets added 0.10 per cent in the intraday trade.