Market Update: Oil, bank underperform as ONGC, ICICI Bank slip 1%; Vedanta down 6%

The market turned volatile in the afternoon trade as the indices trim the morning gains.

The oil & gas space underperformed the market as IOC slipped more than 2 percent followed by ONGC, RIL, Gail and BPCL.

In the PSU banking space, Canara Bank declined 4.4 percent followed by IDBI, Bank of Baroda, OBC, PNB.

Tata Steel, Infosys, Edelweiss, Kotak Mahindra Bank, ICICI Bank are the most active shares on the BSE.

The market breadth was in favour of the declining as 1051 declines and 637 shares advances and 334 remained unchanged on the NSE.

On the other hand, in the BSE, 1549 stocks declines and 1026 advances and 166 remained unchanged.