Stock Market: On account of both FIIs and DIIs closely watching the Coronavirus impact in the US, the Indian indices trade tepid throughout the intraday trade session. The BSE Sensex went down 310 points and closed at 30,379 levels while the NSE Nifty index crashed 68 points and closed at 8,925 levels. Bank Nifty index dipped 430 points and closed at 19,057 levels.
Speaking on the current stock market scenario Prakash Pandey, MD & CEO at Plutus Advisors said, “Much depends upon the US market perormance as the world economy hs become a global vilalge affair after WTO. Since, India is an integral part o the global economy, any nweakness in the Wall Street indeces can lead to crasah at Dalal Street also. Currently, Nifty has immediate support at 8,750 but it has strong support at 8,555. Till Nifty sustains above 8,555, any dip to this level should be seen as an opportunity to buy but one shoiuld keep booking profit after 6-7 per cent rise.”
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Shares of SBI, HDFC Bank, Reliance Industries, Tata Motors, ITC, Bajaj Finance, Sun Pharma, Cipla, Hindustan Unilever and axis Bank were among the most trending stocks throughout the intraday trade session while shares of ICICI Bank, Housing Development Finance Corporation or HDFC anbd Bharti Airtel were among the most active stocks throughout the intraday trade session.