Closing Bell: Sensex sheds 180 points, Nifty lost 62 points; Siemens, PFC, Tata Power stocks bleed

Closing Bell: The stock market of India fail to sustain the early morning gains as the short selling in consumer durables and infrastructure stocks continued to pull it back. The BSE Sensex went down 180 points and closed at 38,549 levels while Nifty 50 index crashed 62 points and closed at 11,493 levels. Bank Nifty index nudged 43 points down to 30,526 levels. Minda Industries, Edelweiss Financial Services, Cholamandalam Finance and Inox Leisure were among the top gaining stocks today while IndiGo, Dish TV, Reliance Capital, Arvind Ltd and Birlasoft stocks were among the top losing stocks in the intraday trade.

Speaking on the market outlook SEBI registered technical equity analyst Simi Bhaumik said, "The market is range-bound till it trades below 11,610 as this level has been broken in the recent stock market crash and till it sustains above this levels for at least two successive closes, one can't be sure about the fresh momentum into the Indian indices.

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Capital Goods stocks led the blood bath at Dalal Street as the BSE Capital Goods index went down near 1.65 per cent in the intraday trade. Capital Goods major Siemens share price crashed 3.74 per cent, V-Guard Industries stocks dropped 2.25 per cent, shares of NBCC (India) dipped 2.92 per cent, Larsen & Toubro scrip went down 1.74 per cent, Hindustan Aeronautics counter went down 1.15 per cent, Havells India stocks went down 1.54 per cent while Bharat Electronics share price nosedived near 2.94 per cent.

Realty stocks also witnessed heavy selloff as the BSE Realty index went down above 1.5 per cent. Realty major Oberoi Realty crashed 3.74 per cent, shares of DLF dipped 3.24 per cent, Sobha scrip nosedived 3.77 per cent, Prestige Estates Projects counter went down 2.47 per cent while Housing Development & Infrastructure scrip went southward near 1.6 per cent.

Among Asian stocks, the Japanese Nikkei 225 index lost 0.15 per cent, South Korean Kospi went up 0.33 per cent, Hang Seng scaled 0.31 per cent while Shanghai went down 0.44 per cent.