Stock Market Today: Sensex, Nifty lost early gains on weak FII sentiments; DLF, ICICI Bank, RCom stocks dip

Stock Market Today: The Indian indices succumb to the negative FIIs pressure and failed to sustain the early morning gains it had clocked in the intraday trade. The BSE Sensex lost 80 points and closed at 36,644 levels while the 50-stock Nifty ticked 3 points higher at 10,847 levels. The Bank Nifty index lost 204 points and closed at 26,919 levels, losing the psycholical 27,000 levels.

JaiprakashAssociates, Tata Motors, Coal India, Hindustan Copper, Dilip Buildcon and ONGC stocks were the major gaining stocks after the closing bell session while Cox & Kings, Coffee Day Enterprise or CCD, HDIL, Magma Fincorp, Reliance Communications and Oberoi Realty stocks were among the major losing stocks today.

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Speaking on the current market scenario Simi Bhaumik, a SEBI registered technical equity analyst said, "Once again the Nifty has closed below 10,850 and hence I would advise stock market investors to wait for the tomorrow opening bell. If the Nifty opens above 10,850 levels then we can expect fresh recovery and its next target would be 11,000 and then 11,200 to 11,250." At Bank Nifty she said that 27,000 was strong support that has been broken but still the banking, auto and metal stocks are bullish and any dip in the index majors should be seen as a buying opportunity for the share market investors.

Realty stocks led the bloodbath at Dalal Street as the BSE Realty index went down 1.77 per cent from its previous close. Realty major DLF share price crashed 2.87 per cent, shares of Oberoi Realty nosedived 3.57 per cent, shares of Housing Development & Infrastructure dipped 4.16 per cent, Prestige Estates Projects went off near 2 per cent while Sobha stocks went down around 0.65 per cent.

Banking stocks also received heavy beating as the FIIs remained negative since opening bell and finally the FIIs selloff got reflected after the closing bell. The BSE Banking index went down around 0.9 per cent today as the banking major ICICI Bank share price crashed 2.16 per cent, shares of Kotak Mahindra Bank dipped 1.16 per cent, Federal Bank shares lost 0.9 per cent while Yes Bank share price scaled 4.12 per cent after the closing bell.

Among major Asian markets, the Japanese Nikkei 225 shot up 2.29 per cent, South Korean Kospi gained 0.82 per cent, Hang Seng lost 0.03 per cent while the Shanghai index rose 0.96 per cent.