The key equity benchmarks traded with significant losses in morning trade. Investor sentiment remained cautious amid uncertainty surrounding the India-US trade deal and ongoing corporate earnings. Nifty traded below 25,000 level.
Private Bank shares tumbled for second consecutive trading session.
At 10:25 IST, the barometer index, the S&P BSE Sensex declined 491.22 points or 0.60% to 81,774.41. The Nifty 50 index fell 148.65 points or 0.60% to 24,962.10.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.64% and the S&P BSE Small-Cap index declined 0.74%.
The market breadth was strong. On the BSE 1,305 shares rose and 2,262 shares fell. A total of 226 shares were unchanged.
Results Today:
Hindustan Zinc (down 0.03%), JSW Steel (down 0.14%), Reliance Industries (down 0.18%), IndiaMART InterMESH (down 0.87%) Indian Overseas Bank (down 1.26%), L&T Finance (up 1.13%), Mastek (down 2.33%), Bandhan Bank (down 0.49%), Aarti Drugs (down 1.51%), Atul (down 0.32%), Hatsun Agro Product (up 1.12%) will announce their results later today.
Buzzing Index:
The Nifty Private Bank index declined 1.31% to 27,577.75. The index dropped 1.88% in the two straight trading sessions.
Axis Bank (down 3.85%), Kotak Mahindra Bank (down 1.16%), IDFC First Bank (down 0.65%), HDFC Bank (down 0.39%) and ICICI Bank (down 0.19%) declined.
On the other hand, RBL Bank (up 0.65%), Bandhan Bank (up 0.23%) and IndusInd Bank (up 0.14%) advanced.