Benchmark indices have become weak in this afternoon session with Nifty turning red, giving up earlier gains, trading at 11,707, down 6 points while the Sensex is up 69 points and is trading at 39,126.
Nifty PSU Bank is the biggest drag with loses from PNB, Union Bank of India, State Bank of India, Syndicate Bank, Bank of India, IDBI Bank, Oriental Bank of Commerce and Canara Bank.
Pharma stocks are also trading in the red led by Dr Reddy's Labs, Glenmark Pharma, Piramal Enterprises, Sun Pharma, Aurobindo Pharma, Divis Labs and Cadila Healthcare.
Nifty Media continues to stay in the red as Zee Entertainment, Dish TV, INOX Leisure, Network18, Hathway Cable and Sun TV Network are down 2-3 percent.
From the infra space, the top losers are Bharti Airtel, BHEL, CG Power, Engineers India, GMR Infra, NHPC, Larsen& Toubro, Reliance Power, Tata Power and Vodafone Idea.
Selective realty stocks are trading in the green led by DLF, Godrej Properties, Prestige Estates and Phoenix Mills.
From the oil & gas space, HPCL and BPCL extended their respective falls, down 4 percent each followed by Indian Oil Corporation and Reliance Industries.
Maruti Suzuki added 2 percent while MRF and TVS Motor are trading in the green from the auto space.
From the private banking space, HDFC Bank and IndusInd Bank are trading in the green.
India VIX moved up by 3.65 percent at 18.74 levels.
The top Nifty gainers include Indiabulls Housing Finance, Maruti Suzuki, Bajaj Finserv, HCL Tech and Tata Steel while BPCL, Zee Entertainment, IOC, GAIL India and State Bank of India are the top losers.
The most active stocks are Tata Motors, Indiabulls Housing, Reliance Industries, Maruti Suzuki and State Bank of India.
Bajaj Finance, Bajaj Finserv, Godrej Properties, Asian Paints, HCL Tech, Siemens, Muthoot Finance, Pidilite Industries and Varun Beverages hit 52-week high on NSE while Vodafone Idea, Petron Engineering and Reliance Communications hit new 52- week low.
The breadth of the market favoured the declines as 661 stocks advanced and 1,075 declined while 349 remained unchanged. On the BSE, 995 stocks advanced, 1,499 declined and 165 remained unchanged.Disclosure
: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.