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Sensex down 40 points; ICICI Bank, Axis Bank slip

Indices traded higher in the afternoon, following positive lead from global peers and Nifty hovering around 10,250 mark. PSU banks continued to underperform, with the PSU Bank index slipping 1%.

The markets continue to rally as both the benchmark indices are sustaining in green.

At 3:21 PM, the BSE Sensex was trading at 33,304, down 47 points, while the Nifty50 index was trading at 10,227, down 15 points.

On Nifty50, only two sectors namely Metal and PSU Banking Index have lost over 1% each. Big companies like SAIL (-4.7%), Jindal Steel (-3%) and Tata Steel (-2.9%) are dragging Metal Index down.

IT Index has gained the most at 0.85% with most of its stocks in green lead by giants like Tech Mahindra and TCS with gains over 1% each. PSU Banking Index continue to fall with Canara Bank (-3.4%) and IDBI Bank (-2.8%) being primarily responsible for it.

Under Media Index, Inox Leisure has gained a massive 4.3% continuing its rally from yesterday as it acquires 50% equity shares of Swanston Multiplex Cinemas Pvt. Ltd from Reliance Mediaworks Ltd.

On BSE Sensex, PNB once again tops the volume charts with a TTQ of 1,912,312 and total number of trades standing at 5,852 followed by Ashok Leyland, Vedanta and SBI.

HDFC contributed the most to the gain on BSE Sensex with 60 points. out of its total gains of 143 points. It was followed by TCS with 24 points and HDFC Bank with 22 points in the index contribution.

Both, BSE MidCap Index and BSE SmallCap Index gained 0.21% each.

Volatility index India VIX slipped 2.38% at 14.2375.

Bajaj Finance (+2%), HDFC(+1.9%), TCS(+1.5%), M&M(+1.5%) and Tech Mahindra(+1.4%) were top gainers on Nifty50.

Tata Steel (-3%), Adani Ports (-1.5%), SBI(-0.9%), NTPC(-0.8%) and Axis Bank(-0.8%) were the top losers in today’s trade.

Out of 2,018 stocks traded on Nifty, 901 advanced, 782 declined and 335 remained unchanged.

A total of 11 stocks registered a fresh 52-week high in trade today, while 86 stocks touched a new 52-week low on the NSE.

Shares of Sadbhav Infrastructure Projects added 1.3% after National Highways Authority of India awarded contract for four laning of Tumkur-Shivamogga section on NH-206. The bid price of the contract is Rs933.82cr.

Shree Renuka Sugars is trading flat after the company signed an agreement with banks for debt restructuring.

BHEL stock rose 1.7% after it won an order worth Rs11,700cr for a supercritical power plant.

HG Infra Engineering has made a listless debut on the bourses by listing at Rs270, at par against its issue price of Rs270 per share on the BSE and the NSE.