Markets witness selling pressure on Monday, with Nifty below at 11400-levels. During mid-morning at 11.30am, the benchmark Sensex, was down 311 points at 38,025.92. The Nifty50 index at the same time was down 82 points at 337-mark.
Shares of HDFC Bank declined nearly over 3% to trade at Rs.2301 per cent, after the company reported Q1 results on Saturday, with its provision and the NAP rose.
According to its reports, the bank’s provisions & contingencies for the Q1 ending 30-June, 2019 , were placed at Rs2613 crores, v/s Rs.1629.4 crore for the corresponding quarter a year ago.
Nifty Private bank index falls 1.59% at 16,038.55 with selling pressure seen in RBL Bank (down 5.61), followed by HDFC Bank and Federal bank (down 3.19% each), Kotak Bank down 2.89% and DCB bank (down 2.14%) as major index losers on the Nifty PSU Bank.
The Nifty Realty index also slips considerably by 1.80% with Indiabulls Real Estate down by 5.55%, Godrej Properties down 3.08% and Obroi Realty down by 2.64%. However, Brigade, Phonix and DLF were trading marginally higher in the Nifty realty index.
Among the 50-scrip in the NSE Nifty index, 32 stocks were seen with buying pressure while 18 stocks were seen selling pressure.