Equity benchmark indices, Sensex and Nifty, have erased morning losses witnessed during the opening session on Monday amid buying seen in bank stocks.
At 10:30AM, the Sensex was trading 59 points up at 34,435 levels, while the Nifty was 9 points up at 10,325 levels.
The Nifty sectoral indices were trading mixed, wherein PSU Bank, Private Bank, Auto, and Bank indices were trading in the green, while the Nifty Metal, IT, Realty, Pharma, and Media indices were in the red. Meanwhile, the Nifty FMCG and Financial Services remained flat.
Among stocks, Hindustan Petroleum, Indian Oil Corporation, Yes Bank, Indiabull Housing Finance, and Bharat Petroleum Corporation were the top gainers on the NSE. Conversely, Vedanta, Hindalco, Wipro, Tata Steel, and Bharti Airtel were the biggest losers.
Shares of Yes Bank were trading 3% after its board appointed a search committee on Friday to appoint Rana Kapoor’s successor. The bank’s aim is to shortlist three names to succeed the current managing director and chief executive officer of the bank. This will then be submitted to the country’s top bank RBI for its approval by end of November or the first week of December.
Meanwhile, market breadth was in favor of negatives on NSE with 1,023 shares declining against 639 shares advancing, and 399 remaining unchanged.