Sensex, Nifty volatile; Yes Bank, Vodafone Idea drop
Equity benchmark indices erased morning gains and are currently trading flat owing to selling pressure in realty, banking, and metal stocks. On the other hand, IT, FMCG, and Auto indices were trading in the positive zone.
Shares of Vodafone Idea tanked 7% in early morning trade after the joint entity in its maiden earnings announcement reported a consolidated loss of Rs4,609cr for the September quarter.
Kotak Mahindra Bank rose 1% after a media report said that ING Group sought to sell its entire 3.7% stake in Kotak Mahindra Bank via block deals.
Yes Bank's stock fell 8% after its non-executive chairman Ashok Chawla tendered his resignation from the bank's board following his name appearing in a CBI charge sheet in the Aircel-Maxis case.
Shares of Jet Airways gained 4% after a media report suggested that Tata Group was in talks to buy a controlling stake in the cash-strapped airline company.
The Sensex is up by 67 points at 35,209, while the Nifty is slightly up at 10,577. On the BSE, 878 shares rose and 1,067 shares fell, while a total of 91 shares were unchanged.
Volatility index India VIX was down 0.31% to 18.76.
On the economy front, India's imports, exports, and trade balance data is likely to be announced today.