Equity benchmark indices turned volatile after opening higher in the late morning trade. Selling pressure was seen in HDFC, SBI, ITC, TCS and IndusInd Bank, while HDFC Bank, Kotak Mahindra Bank and Reliance Industries are among major gainers on the Sensex pack.
The Sensex was trading at 40,750, down 29 points and the Nifty was down 11 points at 12,006.
The Nifty PSU Bank slipped nearly 3% at 2,500.85 levels. All the banking components were trading in the negative zone.
Bank of Baroda, SBI, Union Bank and Indian Bank fell 3% on the banking index, PNB, Bank of India and Canara Bank also fell 1%.
From the Pharma space, the index is trading higher at 8,073.85 levels. Dr Reddy’s, Glenmark, Biocon and Divis Lab gained in the range of 1-2%, respectively.
Also, the Nifty Media index dropped 2% led by losses seen in Dish TV, Hathway, Zee, Network 18 and DB Corp. Shares of Dish TV tanked over 13% in today’s trade.
Agro Phos India, Akash Infra-Projects, City Union Bank, ICICI Securities, Sanginita Chemicals and Uttam Value Steels hit a 52-week high on the NSE.
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