Sensex, Nifty dip on long-awaited profit-booking; Indian Overseas Bank, Vodafone Idea, PNB stocks bleed

Overall the market is bullish. The Nifty has sustained above the psychological 11,900 levels and has strong support there. If it opens above 11,900 tomorrow, then we can still expect the 50-stock index to hit 12,100 levels, say experts.

The BSE Sensex shed 53 points after closing at 40,248 levels while the 50-stock Nifty went down 24 points and closed at 11,917 levels after the Closing Bell trade session. Photo: Reuters

Stock Market News: After rallying for seven straight trade sessions, the Indian indices took a pause today. The BSE Sensex shed 53 points after closing at 40,248 levels while the 50-stock Nifty went down 24 points and closed at 11,917 levels after the Closing Bell trade session. Bank Nifty index went down 113 points and closed at 30,219 levels.

Speaking on the Indian stock market trends Simi Bhaumik, a SEBI registered technical equity analyst said, "Overall the market is bullish. The Nifty has sustained above the psychological 11,900 levels and has strong support there. If it opens above 11,900 tomorrow, then we can still expect the 50-stock index to hit 12,100 levels."

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Indian Overseas Bank share price crashed 11.52 per cent in the intraday trade. Shares of Prism Johnson, SREI Infrastructure, Punjab National Bank or PNB, Indian Bank, Ashoka Buildcon, Federal Bank, Dilip Buildcon and Biocon were among the major losers while Reliance Power, Lakshmi Vilas Bank, Vakrangee, Indiabulls Real Estate, Dewan Housing Finance Limited or DHFL and Reliance Capital stocks were among the major gainers after the Closing Bell trade session.

Healthcare stocks led the bloodbath on Dalal Street as the BSE Healthcare index shed around 1 per cent. Healthcare major Fortis Healthcare share price crashed 3.46 per cent, shares of Divi's Laboratories shed 3.41 per cent, Biocon counter slashed 3.24 per cent, Sun Pharmaceutical Industries stock price went down 2.02 per cent while Unichem Laboratories nosedived 4.92 per cent in the intraday trade.

Among major Asian indices, the Japanese Nikkei soared 1.76 per cent, Kospi rose 0.58 per cent, Hang Seng added 0.49 per cent while the Shanghai markets went up 0.54 per cent.

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