Sensex tanks 202 points, Nifty closes at 12,113 mark; SBI, Vodafone Idea, Pfizer stocks nosedive

Stock Market: On account of negative foreign institutional investors (FIIs) and domestic institutional investors (DIIs), the Indian indices closed in the red zone after opening on the higher side. The BSE Sensex shed 202 points and closed at 41,257 levels while Nifty went down 61 points and closed at 12,113 levels. Bank Nifty crashed 395 points and closed at 30,834 levels.

Speaking on the current stock market outlook; Simi Bhaumik, a SEBI registered technical analyst said, "Nifty is trading in the range of 12,150 to 12,350 as it has strong support at 12,150. Overall the market is bullish and every dip should be seen as an opportunity to buy."

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SBI, Tata Motors, IndusInd Bank, Yes Bank, Coal India, Bharti Airtel and Reliance Industries shares were among the most trending stocks in the intraday trade while shares of Avenue Supermarts, HDFC Bank, ICICI Bank and Housing Development Finance were among the most active stocks throughout the intraday trade session.

Yes Bank, Dewan Housing Finance Limited or DHFL, Bharti Airtel, Spicejet, Aarti Industries, Adani Green Energy, KRBL were among the top gainers in the intraday trade session while shares of Vodafone Idea, Pfizer, PC Jeweller, IFCI, Hindustan Copper, Reliance Infrastructure, GAIL (India), Tata Elxsi, Lakshmi Vilas Bank and Reliance Capital were among the top losing stocks in the intraday trade session.

Power stocks received the maximum burnt as the BSE Power index went down 2.31 per cent after the closing bell. Power major Reliance Infrastructure share price crashed 6.47 per cent, Power Grid Corporation of India shares nosedived 3.26 per cent, shares of Adani Transmission dipped 3.33 per cent, Bharat Heavy Electricals Ltd or BHEL stock price went southward 2.43 per cent, ABB India stocks went off 2.97 per cent while NTPC share price crashed near 2 per cent.

Among the major Asian markets, the Japanese Nikkei 225 index went down 0.59 per cent, South Korean Kospi scaled 0.48 per cent, Hang Seng went up 0.31 per cent while Shanghai markets went 0.38 per cent northward.