Sensex loses ground, Nifty breaks 8100; IT index gains 1%

Moneycontrol Bureau11:41 am Market Update: Equity bencmarks lost ground in late morning trade with the Nifty breaking 8100 level, dragged by banks.The 30-share BSE Sensex was down 66.12 points at 26308.58 and the 50-share NSE Nifty fell 22.80 points to 8081.55.The market breadth also weakened further as about 1355 shares declined against 836 advancing shares on the BSE.11:33 am Buzzing: Mumbai-based pharma company Wockhardt shares advanced more than 3 percent intraday after the UK healthcare regulator said company's Chikalthana facility complied with good manufacturing practice norms.

"UK Medicines and Healthcare products Regulatory Agency has confirmed that general compliance with the principles and guidelines of good manufacturing practice of the company's manufacturing unit at L-1, Chikalthana, Aurangabad," the company said in its filing.

In view of this, the approval status of the said unit continues, it added.

In addition, UK MHRA has considered this manufacturing facility suitable for risk based inspection with reduced inspection frequency of 2 years from the existing inspection frequency of 1 year.11:20 am Order win: HPL Electric & Power has received orders of over Rs 100 crore, which include Rs 70 crore for Bhopal Smart City Lighting project and Rs 33 crore for energy meters from Southern Power Distribution.

For Bhopal Smart city lighting order, HPL has earlier entered as part of a consortium with Bharti Infratel and Ericsson.Also read - Buy, sell, hold: 13 stocks that you can focus today11:00 am Market Check

Benchmark indices remained steady amid low volumes in morning, supported by technology, infra and FMCG stocks. Banks stocks remained under pressure.

The 30-share BSE Sensex was up 23.06 points at 26397.76 and the 50-share NSE Nifty gained 4.85 points at 8109.20.

Nifty IT index climbed 1 percent as TCS and Infosys rallied 1-2 percent. ITC and L&T continued to support the market with a percent upside.

Shares ICICI Bank, SBI, ONGC, Bajaj Auto and Axis Bank remained lower by 1-2 percent.

Non-banking finance company Bharat Financial was the most active stock on the NSE, falling more than 3 percent.