Market Morning Update: Shares of Lakshmi Vilas Bank Gains

Equity benchmark indices, after opening a positive note, erased all its morning gains and trading on lower circuit with Nifty around 11,650 level.

Investors will watch out for March quarter earnings results this week, with TCS and Infosys reporting their numbers on 12-April, in addition to the I-phase of general elections will go on later this week.

At 10.00am , the Nifty is down at 11,662-level  down 3 points and the  Sensex is up 36 points at 38,898-mark.

PowerGrid, Zeel, IndusInd Bank, HUL and Bharti Airtel were among top Nifty gainers, while BPCL, Adani Ports, IOC, Yes bank and HCL Tech the top losers.

All sectoral indices, Except Nifty IT, were trading in the green, where Nifty PSU bank rose the most followed by Nifty media Bank and Nifty FMCG indices.

Shares of Lakshmi Vilas Bank trades on upper circuit near 5% as Indiabulls Housing Finance is looking to amalgamate with the bank.  On the other hand, Indiabulls Housing stock trade on lower note, down, 0.25%.

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