Sensex, Nifty dip on negative FIIs; NMDC, Kotak Mahindra Bank, Vodafone Idea stocks crash

The Indian stock market went down on neutral domestic institutional investors (DIIs) and negative foreign institutional investors (FIIs). The BSE Sensex went down 208 points and closed at 41,115 levels while the Nifty-50 index dipped 62 points and closed at 12,106 level. Bank Nifty index crashed 246 points and closed at 30,701 levels.

Speaking on the share market scenario SEBI registered technical share market expert Simi Bhaumik said, "Nifty has broken its support of 12,150 and now it has gone in the range of 12,050 to 12,150 after its close below 12,150 levels. I would suggest share market investors to maintain buy of dips strategy as overall the market is still bullish."

See Zee Business Live TV streaming below:

SBI, Tata Motors, Axis Bank, Reliance Industries, Yes Bank, HDFC Bank and ICICI Bank shares were among the most trending stocks in the intraday trade session while Bharti Airtel, Kotak Mahindra Bank, Havells India, IOCL and Housing Development Finance shares were among the most active stocks on Wednesday trade session.

Metal stocks received maximum beating as the BSE Metal index crashed over 1.5 per cent in the intraday trade session. Metal major Jindal Steel & Power share price nosedived 3.69 per cent, NMDC shares went down 2.27 per cent, Hindustan Zinc stock price dipped 1.13 per cent, Hindalco Industries stock price went off 0.93 per cent while JSW Steel stocks went southward 0.56 per cent.

Among the major Asian bourses, the Japanese Nikkei 225 index crashed 0.70 per cent and closed at 24,031.35 levels, South Korean Kospi scaled 1.23 per cent and closed at 2,267.25 levels, Hang Seng rose 1.27 per cent and closed at 28,341.04 levels while the Shanghai markets scaled 0.28 per cent.