Markets have been seeing a sell off in the early trade, as stocks from various key sectors have been trading in the red.
At 9:40 AM, the Nifty is at 5043, down by 41 pts or -0.8%. The CNX IT index is down by 0.7%, while the CNX Midcap index ha seen a decline of 0.4%.
Banking stocks have taken the beating. The Bank Nifty is down by 1.3%. ICICI Bank is down by 1.5%. SBI is down by 1.7%, while the PNB is down by over 1%. HDFC Bank is also down by 0.7%.
Steel and other metal counters have also been sluggish. Tata steel is down by 1.3%. SAIL is down by 1.4%. Sterlite is down by 1.7%.
TCS, from the IT space is trading down with 1% loss. Wipro is however holding in the green.