The Indian benchmark indices have turned negative in this afternoon session with the Nifty50 down 12 points, trading at 10,238 while the Sensex shed 66 points at 34,000.
Nifty energy is the biggest drag to the weak market led by BPCL, HPCL, Indian Oil Corporation, Reliance Industries and ONGC.
However, PSU banks are are outperforming with the index jumping over 3 percent led by State Bank of India, Bank of India, PNB, Indian Bank, Central Bank of India, Union Bank of India and Vijaya Bank.
IT stocks are also buzzing with gains from Infibeam, Tech Mahindra, Infosys, Tata Elxsi and KPIT Tech.
From the BSE smallcap space, the top gainers are Udaipur Cement followed by Jindal Worldwide and Emami Infra while Plastiblends India, Supreme Petrochem and Snowman Logistics are the top losers.
From the BSE midcap space, the top gainers include DHFL, Indian Bank and Union Bank of India. The top losers are MRPL, Muthoot Finance and Mphasis.
The top gainers from NSE include GAIL India, State Bank of India, Tech Mahindra, Infosys and Grasim Industries.
The top losers include BPCL, IndusInd Bank, Coal India, Reliance Industries and Cipla.
The most active stocks are ICICI Bank, YES Bank, Reliance Industries, IndusInd Bank and State Bank of India.
Divis Labs is one of the few stocks to hit new 52-week high on the NSE.
On the other hand, 59 stocks have hit new 52-week low including names like Bombay Rayon Fashions, Bharat Financial Inclusion, Intrasoft Technologies and Sagar Cements among others.
The breadth of the market favoured the advances with 1132 stocks advancing and 529 declining while 394 remained unchanged. On the BSE, 1142 stocks advanced, 822 declined and 132 remained unchanged.
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
For more market news, click here