Stock Market Today: On acccount of cautious global sentiments, the Indian indices witnessed tepid trade after six days successive rally. The BSE Sensex shed 181 points to 38,225 mark while the NSE Nifty went off 57 points to 11,264 mark. Bank Nifty index lost 82 points and hit 22,144 levels. Metal, healthcarea nd banking stocks were among the major losers in the early morning trade session.
Speaking on the current market scenario Simi Bhaumik, a SEBI registered technical equity analyst said, “Market has managed to sustain above 11,250 and it can go up to 11,450 mark because the overall sentiment of the market is still bullish.” She said that Bank Nifty has also managed to sustain above 22,100 mark. If it manges to break 22,250 mark and sustain above that level, then we can witness some 400-500 points rally at Bank Nifty as well.
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Metal stocks witnessed maximum beating as the BSE Metal index shed to the tune of 1.10 per cent in the opening bell trade session. Metal major National Aluminium Company Ltd share price dipped 1.83 per cent, SAIL share price went down 1.67 per cent, shares of Vedanta went off 1.11 per cent, Hindalco Industries stock price went southward 1.59 per cent while JSW Steel stocks slide around 0.93 per cent.
Among the major asian markets, the Japanese Nikkei 225 index shot up 0.34 per cent, South Korean Kospi went off 0.16 per cent, Hong Kong’s Hang Seng shed 0.22 per cent while the Shanghai index crashed 2.12 per cent in the opening bell trade session.
At the Wall Street yesterday, Dow Jones dipped 0.30 per cent, Nasdaq shed 1.69 per cent, SmallCap 2000 went down 0.46 per cent while S&P 500 crashed 0.80 per cent.