Market Turned Volatile, PSU Bank, Media hit hard


Equity front line indices changed its trends turning volatile during the mid-session, after opening higher in the morning session.

Major selling pressure was witnessed in the Nifty PSU bank and Media, which slipped 3.26% and 3.14% respectively at 11.50-hrs.

Union bank slipped 4.21%, Bank of Baroda lost 3.67% Central bank of India and SBI slipped 3.55% each. In addition, Indianbank, SyndicateBank, PNB, Bank of India, and Canara Bank also witnessed selling in between 2 to 3%.

In the Media index, DishTV slipped the most down by 18% followed by Zee media, Zee Entertainment and Hathway which slipped upto 4.75% For Best stock to invest tips by just clicking the link.

In the Pharma space, the Nifty pharma index is trading higher at 8,066.25-levels, up 14 points. In the upper front, Dr.Reddy’s, Glenmark, Divis Lab and Biocon advanced in the range between 1 to 2%.

Meantime, shares in Tata Motors slipped 2% even after the Company Board approved allotment of 20.16-cr ordinary shares. More stock and financial Market-Updates visit the link/website.

The Sensex now quoted lower at 40658, down 121 points, and the Nifty lower at 11974, down 43 points at the mid-noon session.

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