Stock Market Today: Sensex, Nifty tank on Wall Street tumble; IndusInd Bank, Ashok Leyland shares bleed

Stock Market Today: On account of Wall Street tumble on fears of second wave of Coronavirus, the Indian indices bleed in the opening bell trade session. The BSE Sensex sink 1,101 points and hit 32,436 levels while the NSE Nifty crashed 221 points and hit 9,680 levels. Bank Nifty nosedived 783 points and trade at 19,741 levels. Banking and finance, auto, metal and infra stocks were among the major losing indices in the opening bell trade session.

Speaking on the current market scenario Prakash Pandey, MD & CEO at Plutus Advisors said, "Market is bleeding due to the weak global cues after the Wall Street tumble. This tumble in the global indices is taking place due to the fears of second wave of Coronavirus. Currently, the NSE Nifty has support at 9,550 and if this level is broken, we can further witness downside movement up to 9,220 levels."

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Shares of IndusInd Bank, Tata Motors, ONGC, NTPC, Kotak Mahindra Bank, Bajaj Finserv, Hindalco Industries, Bajaj Finance, GAIL, Axis Bank, ICICI Bank were among the leading losers in the opening bell trade session while shares of Lakshmi Vilas Bank, Hexaware Technologies, IDFC, MCX, Glenmark Pharma, Omaxe and Sun Pharma were among the leading gainers in the early morning trade session.

Banking stocks witnessed maximum selloff as the BSE Banking index went down to the tune of 3.28 per cent. Banking major IndusInd Bank share price crashed 5.42 per cent, RBL Bank shares nosedived 5.17 per cent, shares of Federal Bank dipped 3.86 per cent, Kotak Mahindra Bank stock price lost 3.76 per cent, Axis Bank stocks went southward 3.30 per cent, HDFC Bank shares went off 2.36 per cent, ICICI Bank scrip dipped 2.87 per cent while State Bank of India or SBI share price went down 2.43 per cent.

Auto stocks also went through the bear burnt as the BSE Auto index went down around 2.15 per cent. Auto major Tata Motors share price crashed 4.76 per cent, Bharat Forge shares dipped 3.31 per cent, Ashok Leyland stocks nosedived 2.94 per cent, Bajaj Auto stock price went off 2.22 per cent, Cummins India counter slide 1.95 per cent, Eicher Motors shares went southward around 2 per cent while Maruti Suzuki India share price went down 1.58 per cent.

Among the major Asian indices, the Japanese Nikkei 225 index crashed 0.76 per cent, KJospi nosedived 2.28 per cent, Hang Seng dipped 1.17 per cent while the Shanghai index went off 0.38 per cent.

Yesterday at Wall Street, Dow Jones crashed to the tune of 6.90 per cent, Nasdaq nosedived 5.27 per cent, S&P 500 dipped 5.89 per cent while SmallCap 2000 fell around 7.04 per cent.