Rise in global oil prices and a weak rupee have dragged benchmark indices in the red with Nifty50 down 91 points, trading at 11,661, while the Sensex shed 251 points and is trading at 38,870.
Nifty Energy is down close to a couple of percent dragged by BPCL, HPCL, Indian Oil Corporation and Reliance Industries after rise in global crude oil prices.
PSU Banks are trading in the red with loses from State Bank of India, Punjab National Bank, Bank of Baroda, Bank of India and Canara Bank.
Selective auto stocks are trading in the negative territory with loses from Ashok Leyland, Apollo Tyres, Motherson Sumi Systems, TVS Motor, Bharat Forge and Eicher Motors.
However, Bank Nifty index is trading in the green led by HDFC Bank.
Following a weak rupee against the US dollar, IT stocks are trading in the green led by Infosys, Tata Elxsi, Tech Mahindra, Mindtree, TCS and Wipro.
India VIX is flat, down 0.04 percent at 22.73 levels.
The top Nifty gainers include Infosys, Wipro, Tech Mahindra, TCS and HCL Tech while BPCL, IOC, YES Bank, Indiabulls Housing Finance and Reliance Industries are the top losers.
The most active stocks are Reliance Industries, HDFC Bank, Jet Airways, YES Bank and PC Jeweller.
Maharashtra Scooters, ARSS Infrastructure, Balaxi Ventures and Rane Engine hit 52-week high on NSE while Natco Pharma, Reliance Communications, Reliance Power, Eveready Industries, SRS and Ballarpur Industries hit new 52-week low.
The breadth of the market favoured the declines as 485 stocks advanced and 1,033 declined while 540 remained unchanged. On the BSE, 469 stocks advanced, 803 declined and 81 remained unchanged.
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