Markets are in a mood of consolidation, with stocks from the IT, Metal and the Banking sectors trading on the downside.
At 11:07 AM, the Nifty is down by 34 pts or -0.65%.
Hindalco has further lost 1% to trade at 134.90. Sterlite is down by 1.7%. Tata steel is also down by 1.3%. SAIL has seen a major cut of 2.4%.
Oil & gas major ONGC is down by 2%, which has dragged down the Nifty index.
The Bank nifty index is down by over 1%. ICICI Bank is down by 1.3%. HDFC Bank is down by 2.2%. PSU Banks are however trading in the green.
The CNX IT index has fallen by 1%. Infy is down by 1.2%. Wipro and TCS have also seen cuts of over 1%.
Sugar stocks have tumbled. Renuka sugars is down by 2%, while Bajaja Hindustan (BAJAJHIND) is down by over 4%. Jubilant Food works (JUBLFOOD) is however up by 2%.