Indices Witnessed Selloff, Bankex Fall By 2.3%

The Indian markets witnessed heavy sell-off in mid-session. After banking stocks like Axis Bank, ICICI Bank, Yes Bank, PNB and Yes Bank hammered badly. The Nifty crashed by 72 points at 8160 and the Sensex by 240 points at 27012. The both the indicators were down around 0.88% each.

The advance-decline ratio is on the positive side. On the NSE, 1095 shares are in the green and 1440 shares are in red.

Top Nifty Gainers: Tech Mahindra is leading the gainer list so far up by 2.6%, followed by Kotak Mahindra, Bharti Airtel, ACC and Ambuja Cement.

Top Nifty Losers: Axis Bank is leading the losers list so far down by 7.7%, followed by ICICI Bank, Yes Bank, Adani Ports and PNB.

All the sectors were trading in red apart of Consumer Durables. Bankex was the top loser down by 486 points. Followed Auto and Capital Goods were down by 118 points and 75 points respectively. Mid-Caps and Small-Caps also were turning in negative on negative note. However Consumer Durables is sustain in the green zone, up by 165 points.    

The Asian markets were also trade on negative note. The Hang Seng down by 186 points. Followed by the Taiwan market down by 35 points. However Nikkei is up by 125 points.

Buzzer:- Most of the banking stock crashed more than 3%. Axis Bank (8%), ICICI Bank (4.5%), Bank Of Baroda (3.5%), IndusInd Bank (1.5%)

Nifty Future continued to fell down its broke 8200 level which is indicating more pain ahead.