Stock Market Today: On account of weak global cues and profit-booking at the Wall Street indices, the major Indian indices opened in the red zone on Thursaday. The BSE Sensex dipped 182 points and hit 34,064 levels while the NSE Nifty index slide 53 points at 10,062 levels. Bank Nifty index crashed 162 points to 20,937 — below the psychological 21,000 levels.

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Giving an idea about the current stock market trends Prakash Pandey, MD & CEO at Plutus advisors said, "The NSE Nifty is trading in a broad 200 points range of 9,550 to 10,150. Bull or bear trend will be decided on breakage of either side of the range only. However, till the Nifty is trading in this range liquor and FMCG stocks are expected to outperform other stocks."

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Telecom stocks led the bull run in the early morning trade session but finally succumb to the selloff pressure. Telecom major Vodafone Idea share price dipped around 1.2 per cent, Tejas Networks shares went down 4.96 per cent, HFCL counter went southward to the tune of 2.63 per cent, Bharti Infratel stock price crashed 2.12 per cent. However, Reliance Communications share price scaled up near 4 per cent.

In banking sector, stock specific trends were visible. Kotak Mahindra Bank and HDFC Bank were in the red zone by around half per cent while RBL Bank share price rose over 4 per cent, IndusInd Bank shares skyrocketed 6.40 per cent, State Bank of India or SBI stock price added 1.17 per cent while Axis Bank stocks added 1.22 per cent.

Among the majorm Asian indices, the Japanese Nikkei 225 index dipped 2.10 per cent, South Korean Kospi shed 0.90 per cent, Hong Kong's Hang Seng went down near 1 per cent  while the Shanghai index added 0.22 per cent.