Stock Market: Sensex, Nifty trade range-bound on weak global cues; Cipla, ITI, RBL Bank stocks crash

Stock Market News: On account of weak global sentiments caused by fears of China virus epidemic, the Indian indices continue to remain range-bound on Thursday Opening Bell trade session. The BSE Sensex added 50 points and scaled at 41,165 levels while the 50-stocks Nifty nudged 6 points higher at 12,112 levels. Bank Nifty index went up 95 points at 30,796 levels.

Speaking on the stock market's current scenario SEBI registered technical share market expert Simi Bhaumik said, "12,000 levels for Nifty is crucial. If it holds above this level, then we can expect Indian markets to scale upward as the overall trend of the market is still bullish. If Nifty breaks below 12,000 then bear may get hold over the Indian markets for next few trade sessions."

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Shares of Tata Motors, SBI, Axis Bank, Reliance Industries or RIL, ICICI Bank, Bharti Airtel, Infosys and Yes Bank were among the most trending stocks in the Opening Bell trade session while Larsen & Toubro, HDFC Bank, RBL Bank and Housing Development Finance were the most active stocks in the morning trade session.

Shares of ITI, SREI Infrastructure, MMTC, Bharti Infratel, DHFL, Rallis India and Edelweiss Financial Services were among the major losers in the Opening Bell trade session while shares of Au Small Finance Bank, Reliance Infrastructure, Vodafone Idea, SpiceJet, Indiabulls Housing Finance, Reliance Capital, Axis Bank and IIFL Finance were among the major gainers in the morning trade session.

Healthcare stocks witnessed some selloff pressure in the Opening Bell trade session. Healthcare major Cipla share price crashed 1.22 per cent, Albert David shares went down 1 per cent, Mangalam Drugs and Organics stock price nosedived near 5 per cent, Shilpa Medicare counter went down 1.64 per cent while Aurobindo Pharma went off near 0.9 per cent.

Among the major Asian indices, the Japanese Nikkei 225 index went down 0,95 per cent, Kospi shed 0.87 per cent, Hang Seng crashed 1.81 per cent while the Shanghai markets dipped 1.46 per cent in the Opening Bell.