Stock Market Today: Sensex, Nifty trade tepid on weak global cues; Pfizer, Biocon shares gain

Stock Market Today: On account of weak global cues due to the spike in Coronavirus cases globally, the India indices opened on the lower side with sideways trends. The BSE Sensex opened 272 points lower from the Monday close and hit  36,421 levels while the NSE Nifty was down 70 points to 10,732 mark. Bank Nifty index crashed 268 points and hit 21,820 levels. 

Speaking on the current stock market scenario Prakash Pandey, MD & CEO at Plutus Advisors said, "Market is range-bound and the NSE Nifty has strong support at 10,670. If the market breaks this level then there can be some more correction in the markets while on the upper side Nifty is facing strong resistance at 10,830. On breaking the upper range, we can expect the 50-stocks index to regain 11,000 levels."

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Shares of Future Retail, Cyient, Sobha, Adani Transmission, ICICI Securities, Wipro and Radico Khaitan were among the major gainers in the opening bell trade session while shares of BHEL, RBL Bank, Yes Bank, InterGlobe Aviation or IndiGo, Suzlon Energy, Reliance Capital, Reliance Power and Reliance Infra were among the major losers in the early morning trade session.

Healthcare stocks witnessed some buying in the opening bell trade session as the BSE Healthcare index rose 0.21 per cent. Healthcare major Biocon share price surged 2.92 per cent, IOL Chemicals and Pharmaceuticals shares went up 3.23 per cent, shares of Marksans Pharma added 2.26 per cent, Pfizer stocks scaled up 1.25 per cent while Thyrocare Technologies share price skyrocketed 3.31 per cent in the early morning trade session.

Among the major Asian indices, the Japanese Nikkei lost 1.08 per cent, South Korean kospi went down around 0.53 per cent, Hong Kong's Hang Seng crashed 1.80 per cent while the Shanghai index dipped 1.10 per cent.