Sensex, Nifty treads water ahead of US-China trade deal; Vedanta, Yes Bank stocks dip

The stock market of India trade tepid ahead of the signing of the US-China trade deal today. The BSE Sensex shed 96 points at 41,855 levels while the 50-stocks Nifty went down 34 points at 12,327 levels. Bank Nifty index crashed 210 points at 31,861 levels.

Speaking on the current stock market outlook Simi Bhaumik, a SEBI registered technical equity analyst said, "The market is overall bullish. Nifty is facing strong resistance in between 12,300 to 12,400. If the 50-stocks index sustains above 12,300 levels, then we can expect it to touch 12,400 in one to two trade sessions."

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Shares of SBI, Yes Bank, IndusInd Bank, Reliance Industries, Tata Motors, Tata Steel, Infosys, Wipro and HDFC Bank were among the most trennding shares in the intraday trade while DFM Foods, Tata Global Beverages, MindTree and Reliance Industries were among the most active stocks in the intraday trade.

Metal stocks led the bloodbath as the BSE Metal index went down near 0.85 per cent. Metal major Steel Authority of India Ltd or SAIL share price crashed 1.48 per cent, Vedanta shares went down 1.24 per cent, Tata Steel stock price dipped 1.16 per cent while JSW Steel went southward 1.33 per cent.

Among the major Asian markets, the Japanese Nikkei 225 index crashed 0.48 per cent to 23,909.50 levels, Kospi dipped 0.33 per cent, Hang Seng went down 0.82 per cent while the Shanghai markets were down 0.66 per cent.