Banks, infra, oil, telecom stocks drag Sensex; Asian Paints up

Equity benchmarks remained under pressure in afternoon trade with the Sensex falling 96.66 points to 27104.83 due to selling in banking & financials, infra, oil and telecom stocks.

The Nifty fell 23.70 points to 8314.20. The market breadth continued to be in favour of declines with advance:decline ratio of 1068:1516 on the Bombay Stock Exchange.

HDFC Bank, L&T, ICICI Bank, Bharti Airtel, Lupin, SBI and ONGC fell 1-2.6 percent while Tata Motors and Asian Paints gained more than 2 percent followed by Hero MotoCorp, Infosys, Maruti, Cipla and HUL.

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Posted in: Indian Market Tips