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Live Stock Market Updates – Nifty holds 10,200 mark; Axis Bank drops

Share indices declined on the back of weakness in banking shares which came under selling pressure after Axis Bank disappointed the Street by reporting spike in bad loans in the September quarter. The Indian rupee strengthened marginally against the US dollar.

At 9:41 AM, the S&P BSE Sensex is trading at 32,546, down by 64 points, while NSE Nifty is trading at 10,206 down by 28 points.

The BSE Mid-cap Index is trading up by 0.04% at 16,115 whereas BSE Small-cap Index is trading up by 0.12% at 17,066.

Axis Bank tanked 7% as the private lender’s asset quality worsened with percentage of gross NPA increasing to 5.90% from 5.03% in the sequential quarter ended June 30, 2017.

Kotak Mahindra Bank, RIL, Wipro, Power Grid and ONGC are among the gainers, whereas Axis Bank, Infratel, Yes Bank, ICICI Bank and SBI are losing steam on NSE.

The INDIA VIX is down by 1.11% at 11.48.

Out of 1,951 stocks traded on the NSE, 690 advanced, 814 declined, and 447 remained unchanged today.

A total of 37 stocks registered a fresh 52-week high in trade today, while 13 stocks touched a new 52-week low on the NSE.

Wipro stock up 2.5% as Q2 FY18 PAT rises 6%.

Crisil stock down 2% as Q2 FY18 PAT declines.

Steel stocks gain on anti-dumping duty on China, EU products.

Tata Sponge stock up 1% as Q2 FY18 net profit rises 64.7% yoy.

JBF Ind stock zooms 10.5% on report co in talks to sell majority stake.

Power Grid Corp won a bid for the India Eastern Region Project. Stock up 1%.