Stock Market: BSE Sensex loses 34K, NSE Nifty retains 10,000 levels; Axis Bank, Indiabulls Real Estate shares dip

Stock Market: On account of profit-booking by the domestic institutional investors (DIIs) after witnessing rally in six straight sessions, the Indian indices ended in the red zone after the closing bell trade session today. The BSE Sensex lost the psycholigical 34,000 levels and closed at 33,980 levels after losing 128 points in the intraday trade session. The NSE Nifty lost 32 points today, but it managed to retain the 10,000 levels after closing at 10,029 levels. Bank Nifty bleed 550 points and closed at 20,390 levels.

Speaking on the current market scenario Rohit Singre, Senior Technical Research Analyst at LKP Securities said, "NSE Nifty has closed above 10,000 levels and if it opens above 10,000 levels tomorrow and sustains above 10,100 then we can expect it to hit 10,400 in coming few trade sessions."

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Banking and financial stocks witnessed maximum profit-booking as the BSE Banking index shed 2.70 per cent in the intraday trade session. Banking major Axis Bank share price shed 3.72 per cent, RBL Bank shares crashed 6.31 per cent, shares of Kotak Mahindra Bank dipped 3.67 per cent, IndusInd Bank stock price nosedived 3.81 per cent, ICICI Bank scrip lost 2.47 per cent while HDFC Bank went off 1.84 per cent.

Realty stocks also witnessed some sell off pressure as the BSE Realty dipped to the tune of 1.66 per cent in the intraday trade session. Realty major Phoenix Mills share price crashed over 3 per cent, Sunteck Realty shares nosedived 2.62 per cent, shares of Prestige Estates Projects slide 2.66 per cent, Indiabulls Real Estate stocks dipped 1.51 per cent while Godrej Properties counter went southward to the tune of 5.11 per cent.

Among the major Asian markets, the Japanese Nikkei 225 index was up 0.36 per cent, South Korean Kospi was up 0.19 per cent, Hong Kong's Hang Seng went down 0.17 per cent while Shanghai index was down 0.14 per cent.

Yesterday at Wall Street, the Dow Jones soared 2.05 per cent, Nasdaq shot up 0.78 per cent, S&P 500 escalated 1.36 per cent while SmallCap 2000 scaled up 2.67 per cent.