Benchmark indices started off with gains but it slowly faded away as the day progressed and are currently in the red. All sectors except IT are in the red led by PSU Banking and followed by Automobile and Media sector.

On BSE Sensex, Fortis Healthcare is the volume topper with a TTQ of 11,345,962 followed by Sanwaria Consumer, Unitech and Suzlon Energy.

ICICI Bank contributed 27 points in the fall of 110 points on BSE Sensex.

PSU Banking sector has fallen by 2.14% led by Punjab National Bank (-4.4%) due to its ~Rs11,600cr scam case. Other major losers in PSU Banking sector include Bank of Baroda (-3.6%) and Bank Of India (-3%).

At 2:48 PM, the BSE Sensex was trading at 33,967, down 329 points, while the Nifty50 index was trading at 10,440, down 105 points.

Shares of Punjab National Bank and Union Bank of India fell owing to concerns regarding the ~Rs11,600cr fraud, and the Nifty PSU Bank extended its losing streak to the fifth consecutive session.

BHEL said it has commissioned 18 megawatt (MW) Mukerian hydro-electric project (HEP) in Punjab. Stock is marginally higher.

Shares of Gitanjali Gems breached lower circuit and dropped 20% over its alleged involvement the PNB scam.

The BSE MidCap Index slipped 0.72% and the BSE SmallCap Index slipped 0.91%.

Volatility index India VIX gained 0.59% at 16.4125.

Ambuja Cement (+2.2%), Kotak Mahindra Bank (+1.5%), TCS (+1.2%), Dr. Reddy’s Laboratories (1.2%) and Infosys (+0.9%) were the top gainers on Nifty50.

Eicher Motors (-2.5%), Yes Bank (-2.3%), State Bank of India (-1.9%), Tech Mahindra (-1.6%) and Maruti Suzuki (-1.4%) were the top losers in today’s trade.

Out of 2019 stocks traded on Nifty, 347 advanced, 1339 declined and 333 remained unchanged.

A total of 17 stocks registered a fresh 52-week high in trade today, while 28 stocks touched a new 52-week low on the NSE.

source: indiainfoline.com