Live Stock Market Updates – Nifty slides below 9100, Axis Bank drags BSE Bankex down

Some of the major banking stocks are trading in red, with Axis Bank pulling the BSE Bankex in the negative territory. The stock is trading down by 1.6% and is contributing nearly 30 points to the Index down fall.

The BSE Bankex is at 24607 levels lowers by 106 points or 0.4%.

While other stock in the sectoral index such as Punjab National Bank is down by 1.5%, Bank of Baroda is down by 0.7%, Kotak Mahindra Bank is down by 0.5%, ICICI Bank is down by 0.4%, HDFC Bank is down by 0.4%. State Bank of India is down by 0.2% and InduInd Bank is down by 0.1% on the BSE.

At 10 AM, the S&P BSE Sensex is trading at 29,266 down 52 points, while NSE Nifty is trading at 9087 down 17 points. A total of 22 stocks registered a fresh 52-week high in trade today, while 11 stocks touched a new 52-week low on the NSE.

The BSE Mid-cap Index is trading down 0.03% at 14300, whereas BSE Small-cap Index is trading down 0.03% at 14848.

Some buying activity is seen in Utilities, Auto, Capital Goods and Power, while Bankex, Oil & Gas, Energy and Finance indices are showing weakness on BSE.

Power Grid, Infratel, Tata Power, Tech Mahindra and Sun Pharma are among the gainers, whereas Axis Bank, IndiaBulls Housing Finance, BPCL, Bank of Baroda and Tata Steel are losing on the NSE.

The INDIA VIX is down 0.7% at 12.