Stock Market Today: Sensex, Nifty follow weak global cues; Vodafone Idea, Maruti Suzuki India shares dip

Stock Market Today: On account of heavy selloff across Asian share markets, the Indian indices opened around 0.25 per cent lower from its Thursday close. The BSE Sensex lost 90 points and hit 37,935 mark — below the psychological 38,000 mark while the NSE Nifty went down 27 points at 11,172 mark. Bank Nifty index dipped 164 points and hit 21,477 levels.

Speaking on the current market scenario Simi Bhaumik, a SEBI| registered technical equity analyst said, "The NSE Nifty has made a broader base of up to 10,850 to 10,950 while it has upper range of 11,250 to 11,300. I don't see Nifty breaking this range by the end of this week. Bank Nifty also won't be able to break 20,900 to 22,00 range."

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Shares of Honeywell Automation, Delta Corp, Torrent Power, Yes Bank, SREI Infrastructure, PI Industries, Equitas Holdings, Indiabulls Housing Finance and Jubilant Life Sciences were among the leading gainers in the intraday trade session while shares of Jamna Auto Industries, Magma Fincorp, JK Tyre & Industries, Varun Beverages and HCL Technologies were among the leading losers in early morning trade session.

In telecom sector, Reliance Communications share price crashed 4.79 per cent, GTL Infrastructure shares went down 3.90 per cent, shares of Vodafone Idea dipped 1.58 per cent while Mahanagar Telephone Nigam Ltd or MTNL stock price went off 0.44 per cent in the opening bell trade session.

Amomg the major Asian indices, the Japanese Nikkei 225 index shed 0.88 per cent, Kospi went off 0.28 per cent, Hong Kong's Hang Seng crashed 2.49 per cent while the Shanghai index went down 1.45 per cent.

At Wall Street on Thursday, Dow Jones index shot up 0.68 per cent, Nasdaq rose 1 per cent, S&P 500 went up 0.64 per cent while SmallCap 2000 shed 0.08 per cent.