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Stock Market Opening Bell Today: BSE Sensex tanks 663 points, NSE Nifty crashes 164 points; Vodafone Idea, DLF shares dip
Stock Market Opening Bell Today: On account of weak global cues, the stock market of India witnessed heavy selloff in the opening bell today.
Stock Market Opening Bell Today: On account of weak global cues, the stock market of India witnessed heavy selloff in the opening bell today. The BSE Sensex crashed 663 points and hit 38,327 mark while the NSE Nifty tanked 164 points and touched 11,363 mark. Bank Nifty index dipped 577 points to 22,958 levels. Real estate, auto, metal, tech and IT stocks were major losers in the early morning trade session.
Speaking on the current market scenario; SEBI registered technical equity analyst Simi Bhaumik said, "NSE Nifty has broken its 11,400 to 11,600 range and now it has strong support at 11,250. Any dip to that levels should be seen as a buying oportunity for 11,550 to 11,600 mark targets. Pharma, metal, IT and auto stocks are expected to outperform other sectors."
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Shares of Mahindra Lifespace, CreditAccess Grameen, Radico Khaitan, Bharti Infratel, KEC International, Allcargo Logistics, Century Plyboards, Minda Industries and JK Cement were among the major gainers in the opening bell today while shares of Adani Green Energy, Suzlon Energy, ICICI Prudential Life Insurance, Schaeffler India, Somany Ceramics, Vodafone Idea, DLF and Bank of India were among the major losers in the early morning trade session.
Banking stocks received maximum beating in the opening bell as the BSE Banking index crashed to the tune of over 2 per cent. Banking major State Bank of India or SBI share price crashed 2.49 per cent, Axis Bank shares dipped 2.44 per cent, ICICI Bank share nosedived 2.78 per cent, Kotak Mahindra Bank stock price tanked 2.50 per cent, IndusInd Bank stocks dipped 2.32 per cent while HDFC Bank share went off 1.65 per cent.
Real estate stocks also witnessed some profit-booking in the early morning trade session. Realty major DLF share price crashed 2.21 per cent, Indiabulls Real Estate shares went down 2.30 per cent, Sunteck Realty share went off 1.52 per cent, Brigade Enterprises stock price crashed 1.32 per cent while Oberoi Realty counter slide near 1 per cent.
Among the major Asian markets, the Japanese Nikkei 225 index crashed 1.36 per cent, South Korean kospi nosedived 1.56 per cent, Hong Kong's Hang Seng tanked 1.85 per cent while Shanghai index went southward 1.38 per cent.
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