Stock Market Today: On account of the historic rout at the Wall Street and other global markets, the Indian indices opened on the lower side today. The BSE Sensex opened 155 points down at 31,234 levels while the 50-stocks Nifty opened 17 points down at 9,179 levels. Bank Nifty index opened 279 points down from its previous closing and hit 22,821 levels today.
Speaking on the current market scenario Simi Bhaumik, a SEBI registered technical equity analyst said, “Overall the market is bearish. Currently, Nifty has a strong support range at 8,900 and on the upper side, Nifty has heavy resistance at 9,200 levels.” She advised traders to avoid metal and auto stocks in the current share market scenario.
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Shares of SBI, Yes Bank, Tata Motors, Reliance Industries, Tata Steel, HDFC Bank, ICICI Bank, IndusInd Bank, SBI Cards and Bajaj Finance were among the most trending stocks in the Opening Bell trade session while shares of Housing Development Finance, Kotak Mahindra Bank, Maruti Suzuki, Reliance Industries and Infosys were among the most active stocks in the early morning trade session.
Among the major Asian markets, the Japanese Nikkei 225 index added 0.32 per cent, south Korean Kospi went down 1.94 per cent, Hang Seng went up 0.59 per cent while the Shanghai index rose 0.03 per cent.
At the Wall Street on Monday, Dow 30 crashed 12.93 per cent, S&P 500 nosedived 11.98 per cent while Nasdaq tanked 12.32 per cent.