Stock Market Opening Bell: Sensex, Nifty trade sideways; Repco Home Finance, Pfizer shares gain

Stock Market Opening Bell: On account of neutral FIIs and negative DIIs, the Indian indices trade siddeways in the opening bell today. The BSE Sensex edged 7 points up at 38,424 levels while the NSE Nifty shed 6 points and touched 11,348 levels. Bank Nifty dipped 43 points and hit 22,901 mark.

Speaking on the current stock market scenario Simi Bhaumik, a SEBI registered technical equity analyst said, "NSE Nifty is now trading in a broader range of 11,250 to 11,450. Any dip below around 11,300 or below 11,300 will be a good buying opportunity." She said that pharma, IT, metal and auto stock will outperform other sectors in coming few trade sessions.

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Shares of Repco Home Finance, Pfizer, InterGlobe Aviation or IndiGo, Ashoka Buildcon, AstraZeneca Pharma Industries, Birlasoft, GlaxoSmithKline Pharma, GIC Housing Finance and Piramal Enterprises were among the major gainers in the early morning trade session while shares of Bharat Dynamics, Future Lifestyle, Future Retail, Parag Milk Foods, Bharti Infratel and Vodafone Idea were among the mjor losers in the early morning trade session today.

Telecom stocks feel the maximum heat in opening bell trade session. Telecom major Vodafone Idea share price crashed to the tune of 4.47 per cent, Bharti Infratel shares nosedived 3.61 per cent, HFCL share went off 1.48 per cent while GTL Infrastructure stock price went southward 1.30 per cent. Sterlite Technologies share price went down 1.34 per cent in the early morning trade session.

Among the major Asian indices, the Japanese Nikkei 225 index appreciated 0.53 per cent, South Korean Kospi went up 0.68 per cent, Hong Kong's Hang Seng went off 0.63 per cent while Shanghai index went down 0.34 per cent.