Sensex, Nifty shed on dent in US-China trade talks; DHFL, YES Bank, Ashok Leyland stocks bleed

Stock Market: Taking a cue from the global markets, the Indian indices slip in the red zone after breaking its week long losing streak yesterday. At BSE-stock exchange Sensex shed 141 points to 38,036 levels while the 50-stock Nifty went down 35 points to 11,277 levels. The Bank Nifty index crashed 293 points to 28,492 levels.

Speaking on the stocks market future outlook Sumeet Bagadia, Executive Director at Choice Broking told Zee Business Online, "Indian stock market is overall bullish. Nifty was facing strong resistance at 11,300 and yesterday it managed to close above this level. If it once again closes above 11,300 today then we can expect it to move forward up to 11,500. However, if it slips below 11,300 in today's closing bell, then it would once again slip in the range of 11,100 to 11,300 in which it has been trading for last one week."

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Dewan Housing Finance Limited or DHFL, Indiabulls Housing Finance, YES Bank, SBI Life Insurance, Divi's Lab, Ashok Leyland, Steel Authority of India Limited or SAIL and ICICI Bank stocks were the major losing shares in the opening bell trade session on Thursday while Vodafone Idea, Bharti Airtel, Indiabulls Real Estate, Adani Gas, Dr. Lal Pathlabs and Adani Green Energy stocks were the major gaining shares in the morning trade session.

Energy stocks led the bloodbath at Dalal Street as the BSE Energy index lost 0.85 per cent in the opening bell session. Energy major Jindal Drilling & Industries share price crashed over 6 per cent in the morning trade session, shares of GOCL Corporation nosedived 3.11 per cent, Deep Industries shares went down over 1 per cent. However, energy major Reliance Industries Limited or RIL share price continues to surge and added over 1 per cent in the opening bell trade session today.

Among major Asian markets, the Japanese Nikkei went up 0.26 per cent, South Korean Kospi shed 0.78 per cent, Hang Seng added 0.24 per cent and Shanghai markets rose 0.19 per cent.