After opening at a record high, the Sensex is currently off its opening levels, while the Nifty is hovering around 11,050-mark.
Selling in midcaps is likely to have dragged them from the high points; the Nifty midcap index is trading a quarter of a percent lower. Meanwhile, among sectoral indices, PSU banks and metals are seeing some weakness, while IT and energy sectors are trading in the green.
Share price of PNB, IOB, Andhra Bank, Corporation Bank and Allahabad Bank reacted positively on the government capital infusion plan.
Benchmark indices have maintained their uptrend in morning trade, with the Sensex rising over 100 points, while the Nifty is above 11,050 as well. The Nifty PSU bank index has extended its correction and is now down over 1 percent, while the Bank Nifty is trading in the green. Metals, too, are witnessing some weakness, down over 1 percent on the index. Midcaps, too, have seen some selling since morning, thereby dragging the indices from opening highs. ONGC, Bajaj Auto and Indiabulls Housing are the top gainers, while Tata Steel, Airtel, Lupin and Hindalco have lost the most. Shares of Sintex Industries soared over 9 percent on Wednesday morning as investors cheered its Q1 results.
Missed call
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