Stock Market Closing Bell: On account of weekend profit-booking the Indian indices closed in the red zone after the closing bell today. The BSE Sensex shed 134 points and closed at 38,845 mark while the 50-stocks NSE Nifty lost 11 points and closed at 11,504 mark. Banking and financial stocks received maximum beating while pharma, healthcare and telecom stocks logged heavy gains after the closing bell today.
Speaking on the current stock market trends; Simi Bhaumik, a SEBI registered technical equity analyst said, “Overall the market sentiment is positive. It is facing resistance at around 11,550 to 11,600 mark. Once it breaks this level, we can see it scaling up to 11,800 soon.” However, she said that IT, auto and pharma stocks will be the leading gainers in this stock market rally.
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Shares of Dr. Reddy’s Laboratories, Cipla, Bharti Airtel, Tech Mahindra, Sun Pharma, NTPC, Hindalco Industries, Wipro and Hero MotoCorp were among the major gainers after the closing bell while shares of Aegis Logistics, Mahindra CIE Auto, Orient Electric, Dilip Buildcon, Repco Home Finance, Suzlon Energy and India Cements were among the major losers after the intraday trade session today.
Banking and financial stocks received maximum beating throughout the intraday trade session. Banking major HDFC Bank share price crashed 2.21 per cent, Bandhan Bank shares nosedived 2.98 per cent, shares of Kotak Mahindra Bank slide 1.79 per cent, State Bank of India or SBI share price went off 1.33 per cent after the closing bell today.