Stock Market Today: On account of neutral foreign institutional investors (FIIs) and domestic institutional investors (DIIs), the Indian indices are trading cautiously in the opening bell trade session. The BSE Sensex opened 81 points lower at 30,851 levels while the NSE Nifty was 32 points lower at 9,073 levels. Bank Nifty slide 77 points to 17,657 levels. Auto, metal and banking stocks were among the major losers in the early morning trade session.

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Speaking on the current marekt scenario; Prakash Pandey, MD & CEO at Plutus Advisors siad, "As I have been maintaining, Nifty is facing strong resistance at 9,100 levels. If it manages to break this resistance then we can see an upside move up to 9,380 levels while if it fails to do that, we can see a downside trend up to 8,900 levels." Pandey said that intraday trends look neutral as both DIIs and FIIs have taken a neutral stance in the intraday trade.

Sameet Chavan, Chief Analyst-Technical and Derivatives at Angel Broking said, “Wednesday's smart recovery was followed by a flat to positive opening in our market despite sluggish global cues. During the first half, the market extended wednesday's relief move and went beyond the 9150 mark. However, some indecisiveness was being witnessed at higher levels and in the process, the Nifty eventually corrected to pare down major chunk of gains. In all this, Nifty eventually managed to reclaim the 9100 mark on a weekly expiry day. Yesterday's first half had some action but there was some volatility seen towards the fag end, which was evident on weekly expiry day. Technically speaking, we are standing at a crucial juncture now and hence, the coming session would probably set the next path of action for our markets. As far as levels are concerned, 9150-9200 remains to be an important hurdle for Nifty. Today being the weekly close, it would be crucial to see whether we manage to surpass this hurdle or not. Any sustainable move beyond this would certainly trigger a strong upside move in the market; whereas on the flipside, 9000 becomes a make or break level now. Yesterday, despite we were witnessing some volatile swings in indices, individual pockets were doing well for themselves. Hence, till the time, we are stuck in a range of 9000-9200, its advisable to focus on potential movers.”

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Shares of Reliance Industries, SBI, ITC, ICICI Bank, HDFC Bank, Bajaj Finance, Axis Bank, Tata Motors, Bharti Airtel and Sun Pharma were among the most trending stocks in the opening bell trade session while shares of Interglobe Aviation Ltd or IndiGo, Indian Railway Catering or IRCTC, Housing Development Finance, Infosys and ITC were among the most active stocks in the early morning trade session.

Metal stocks witnessed maximum sell off as the BSE Metal index went off around 1.5 per cent in the early morning trade session. Metal major Hindalco Industries share price crashed over 3.5 per cent, Tata Steel shares dipped around 2 per cent, shares of Jindal Steel & Power nosedived 2.45 per cent, Hindustan Zinc stock price went southward 1.1 per cent while National Aluminium Company or NALCO went down 0.71 per cent.

Auto stocks also witnessed some selloff pressure in the early morning trade session as the BSE Auto index went off around 0.2 per cent. Auto major Ashok Leyland share price crashed 1.3 per cent while shares of Bajaj Auto, Bharat Forge, Cummins India, Eicher Motors, Mahindra & Mahindra, Maruti Suzuki India, Motherson Sumi Systems and Tata Motors opened in the red zone.

Among the major Asian markets, the Japanese Nikkei shed 0.84 per cent, South Korean Kospi crashed 1.53 per cent, Hong Kong's Hang Seng nosedived 4.91 per cent while Shanghai index went southward 1.31 per cent.

At Wall Street yesterday, Dow 30 went off 0.41 per cent, Nasdaq dipped 0.97 per cent, S&P 500 went down 0.78 per cent while SmallCap 2000 added 0.27 per cent.