Closing Bell: Indian markets end in red zone; Kotak Mahindra Bank, Vedanta shares dip

Stock Market Closing Bell: On account of profit-booking by the Domestic Institutional Investors (DIIs) and small traders, the Indian indices ended in the red zone after trading tepid throughout the intraday trade session. The BSE Sensex shed 95 points and ended at 38,990 levels while the NSE Nifty lost 7 points and closed at 11,527 levels. Bank Nifty crashed 343 points and closed at 23,530 mark. Banking, metal, energy and realty stocks were among the major losers in the intraday trade.

Speaking on the current market scenario; SEBI registered technical stock analyst Simi Bhaumik said, "The market is trading in a broader range of 11,400 to 11,600. Once, it breaks the upper range, it may further go up to 11,700 levels. Similarly, Bank Nifty index is trading in the broader range of 23,400 to 24,200." Bhaumik said that auto, metal, pharma nd IT stocks will fuel the markets in coming trade sessions.

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Shares of Vodafone Idea, Bharti Infratel, Aditya Birla Capital, Varroc Engineering, United Breweries, Grasim Industries, Jamna Auto Industries and Titan Company were among the major gainers in the intraday trade while shares of Future Retail,Sadbhav Engineering, Suzlon Energy, KRBL, Vakrangee, Godrej Industries, Aegis Logistics and vedanta were among the major losers today.

Banking stocks bleed maximum as the BSE Banking index shed 1.51 per cent. Banking major Kotak Mahindra Bank share price dipped 1.64 per cent, Axis Bank shares went down 1.41 per cent, ICICI Bank share went southward 1.98 per cent, IndusInd Bank stock price crashed 1.52 per cent while State Bank of India or SBI stocks went off 1.25 per cent.

Metal stocks also witnessed heavy selloff prssure throughout the intraday trade session. Metal major Vedanta share price crashed 2.10 per cent, Hindalco Industries shares went down 2.19 per cent, Hindustan Zinc share went southward 2.20 per cent, NMDC stocks went off 1.22 per cent while Tata Steep slide 0.64 per cent.

Among the major Asian indices, the Japanese Nikkei 225 index appreciated 0.94 per cent, South Korean Kospi went northward 1.33 per cent, Hong Kong's Hang Seng shed 0.45 per cent while Shanghai index dipped 0.56 per cent.