Stock Market Today: Sensex, Nifty recover after huge selloff; Vodafone Idea, Bharti Airtel shares dip

Stock Market Today: After the huge selloff in the mid-session, the Indian indices finally managed to recover from its intraday low but fiunally ended in the red zone after the closing bell today. The BSE sensex shed 69 points after closing at 37,664 mark while the NSE Nifty dipped 21 points and closed at 11,131 levels. Bank Nifty index added 39 points after closing at 21,178 mark.

Speaking on the current stock market trends SEBI registered technical equity analyst Simi Bhaumik said, "Market has strong support at 11,000 to 10,900 levels as the market has once again clsoed below 11,200 mark. Once the marekt manages to sustain above 11,200, we can expect further 200 points upside move while any dip below 11,000 to 10,900 should be considered further bearish trend in the markets."

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Shares of Zensar Technologies, Mahindra CIE Auto, Page Industries, Tata Chemicals, WABCO India, KPIT Technologies, Repco Home Finance, Tata Power and PNB Housing Finance were among the major gainers after the closing bell today while shares of Vodafone Idea, Bharti Airtel, Bharti Infratel, Jubilant Life Sciences, Essel Propack, Adani Green Energy and Take Solutions were among the leading losers after the closing bell trade session.

After the disclosure of telecom companies AGR dues by the Modi Government in the Rajya Sabha yesterday, most of the telecom stocks crashed today. BSE Telecom index tanked to the tune of 7.72 per cent after the closing bell today. Telecom major Vodafone Idea share price crashed over 11 per cent, Bharti Airtel shares nosedived 8.14 per cent, Bharti Infratel share dipped 8.21 per cent, Reliance Communications stock price went off 4.39 per cent, Mahanagar Telephone Nigam Ltd or MTNL stocks went down 2.78 per cent while GTPL Hathway counter went southward 3.42 per cent.

Among the major Asian indices, the Japanese Nikkei 225 shed 0.06 per cent, South Korean Kospi added 0.03 per cent, Hong Kong's Hang Seng went up 0.11 per cent while the Shanghai markets added 0.17 per cent in the opening bell.

At Wall Street yesterday, Dow Jones soared 0.52 per cent, Nasdaq skyrocketed 1.71 per cent, Small Cap 2000 jumped 0.83 per cent while S&P 500 shot up 1.05 mper cent.