Sensex, Nifty volatile; Lupin, Tata Steel, Hindalco fall

Moneycontrol Bureau11:30 am Rollback: Two days after announcing an aggressive branch expansion plan and seeing its stock getting hammered 30 percent, DCB Bank has decided to go slow on network expansion. On Wednesday, post the second quarter earnings announcement, DCB Bank Chairman Nasser Munjee had said the bank would double its branch network over the next 12-15 months. That triggered a flurry of downgrades from analysts who felt the move was risky and would impact return ratios, causing the stock to nosedive.Don't miss: CLSA downgrades ITC on cigarette growth concerns; stock down

The market is still weak as the Sensex is down 29.02 points at 26981.12. The Nifty is down 11.30 points at 8168.20. About 1127 shares have advanced, 996 shares declined, and 152 shares are unchanged.

NTPC, L&T, Maruti, Bajaj Auto and Tata Motors are gainers while Bharti, Lupin, Tata Steel, ITC, Hindalco are among the losers.

Meanwhile, US Federal Reserve policymakers are not as divided as it may appear and are generally operating under the same framework for determining when to raise interest rates, one Fed official said on Thursday, while another said the differences of opinion reflect the countervailing economic data.

Many Fed watchers are exasperated by the mixed messages from the US central bank in recent weeks. Fed Chair Janet Yellen and other officials have said they expect a rate hike will be needed by the end of this year, but two Fed governors this week urged caution.