Nifty, Sensex Trade Lower as Bank Stocks Dip

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The Sensex and the Nifty were trading lower for a second day in a row as selling pressure was seen in banks after their sharp rally in the last few days.

The Sensex was trading lower by 56 points, while the Nifty dropped 18 points in trade. Leading the pack of losers were banking stocks like HDFC Bank, ICICI Bank, Yes Bank and Canara Bank.

 Nifty, Sensex Trade Lower as Bank Stocks Dip
Sensex27,836.51Sensex Quote-254.91 [0.91%]
Nifty8,615.25Nifty Quote-76.05 [0.88%]
State Bank of India bucked the trend and was trading higher. Mid cap stocks saw some buying interest at lower levels with stocks like CESC, Crompton Greaves, JSW Energy and Divis Labs seeing buying interest in trade.

Software stocks which have been seeing huge interest saw some selling pressure with stocks like HCL Tech, Infosys and Wipro falling.

Brokers said apart from profit-booking in recent gainers, trimming of positions by speculators in view of tomorrow's monthly expiry in the derivatives segment, influenced sentiments.

Besides, a mixed trend on other Asian bourses following a lower closing in the US markets in yesterday's trade, triggered selling at domestic markets.

Meanwhile, Asian markets were trading flat with a slight negative bias.

Read more about: sensex, nifty
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