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Nifty drifts below 5500.

Markets have drifted down heavily, with the Nifty going below 5482, down by 65 pts or -1.2%

At 10:52 AM, the Nifty is at 5478, down by 69 pts or -1.3%

Banks have been the top losers again. PNB has lost 3.5%. SBI has lost around 1.8%. HDFC Bank is down by 1.8%. Axis Bank is down by 1%.

Metal counters are also trading down. Sterlite industries is down by 2.2%. Tata steel is down by 1.4%. Jindal steel is down by 1.8%. SAIL is down by 1.8%

Oil major RIL is down by over 2%.

RCOM, HDFC, Reliance Capital, NTPC, L&T – have all lost over 1.5% each.



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