BSE stock exchange: Sensex shed 382 points, Nifty below 11K, Bank Nifty tanks 499 points

BSE stock exchange: The Indian stock market took a heavy beating in the intraday trade session as the FIIs who fuelled the Indian indices in last two trading session went negative and indulged in profit booking. The BSE Sensex crashed 383 points and closed at 37,068 levels while the 50-stock Nifty dipped 97 points and closed at 10,948 levels. The Bank Nifty index crashed 499 points and closed at 27,305 levels.

Giving idea about the future trend of the Indian stock market Simi Bhaumik, a SEBI registered technical equity analyst said, "The markets have undergone some profit booking but as long as it sustains above the 10,900 levels, we can expect the recovery in coming trade sessions. this dip should be taken as a buying opportunity."

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MMTC, Sun Pharma, Escorts, Jubilant Life Science and Biocon stocks were the major gainers in the intraday trade session while Suzlon Energy, Lemon Tree Hotels, Sterlite Technologie, Jammu & Kashmir Bank, PC Jeweller and Coffee Day Enterprise or CCD stocks were among the major losing stock in today's closing bell.

Among the major Asian markets, the Japanese Nikkei dipped 0.17 per cent, South Korea's Kospi crashed 0.4 per cent, Hang Seng index gained 0.41 per cent while the Shanghai market went off 0.1 per cent.