The Indian stock market has extended the morning loses and is trading at the low point of the day ahead of F&O expiry with Sensex is down 127.33 points or 0.31 percent at 41333.93 while and the Nifty slipped 38.10 points at 12176.40.
Nifty PSU Bank shed over a percent dragged by Union Bank of India, Central Bank of India, Canara Bank, Oriental Bank, Punjab National Bank and State Bank of India.
Infra stocks are also under pressure, the top losers include Bharti Airtel, Larsen & Toubro, Tata Power Company, Container Corp and Ambuja Cements.
The auto index is marginally trading in the green with gains from Eicher Motors, Exide Industries, Hero MotoCorp, Mahindra & Mahindra and Motherson Sumi Systems.
Nifty Metal is up half a percent amid optimism in US-China trade deal. US President Donald Trump said on Tuesday he and Chinese President Xi Jinping will have a signing ceremony to sign the first phase of the US-China trade deal agreed to this month.
The top gainers include SAIL, Jindal Steel & Power, JSW Steel, NALCO, Tata Steel, Vedanta, NMDC and Hindustan Copper.
The top gainers from the Nifty are Vedanta, JSW Steel, Tata Steel, Mahindra & Mahindra and Eicher Motors. The top losers include Indian Oil Corporation, YES Bank, Coal India, Bharti Airtel and Zee Entertainment.
The most active stocks are Reliance Industries, Indiabulls Housing Finance, Tata Steel, State Bank of India and YES Bank.
About 1286 shares have advanced, 1057 shares declined, and 146 shares are unchanged.Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.