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Market Watch: PSU Bank, IT stocks trade Lower


The benchmark indices Sensex and Nifty are moving between gains and losses in the morning session, Wednesday, as part of market volatility.

The Nifty PSU Bank index is trading lower during mid-morning session, as selling pressure seen mainly the stocks in Indian Bank (down 2.36%) and Central bank (down 2%) while Nifty PSU bank index declined 1.14% at 2,125.75.

In addition, Bank of India, Allahabad Bank, Canara Bank, Union Bank, Syndicate Bank and SBI were also declining in range between 1 to 1.8% Get best stock Tips from the experts.

IT stocks also witness selling pressure with Nifty IT index slipping at 1.19% at 15,065. Shares of Tata Elxsi fell 8%, followed by HCL Technologies, Hexaware, NIIT Technologies which were down in the Nifty IT index. Infosys and TCS and Mindtree are also down in today‚Äôs trade.

At 11.30 am, the Sensex scaled at 37564.34, up by 32 points while the Nifty traded at 11,140.70 up by 14 points. Ultratech Cement, M&M, Cipla, Bharti Airtel and Bharti infratel were gainers at this time, while Yes bank, Titan and HCL Tech were among top losers.For Free stock tips  visit our website.