Equity benchmark indices erased morning gains as selling pressure was witnessed in Yes Bank, Indiabulls Housing Finance, UPL, IOC and Tata Motors.
The BSE MidCap index is down 47 points at 14,496 levels, with Reliance Infra falling 13%. Reliance Power, Reliance Capital, PNB Housing, Wockhardt and DHFL were among the major contributors to the index's fall.
The BSE SmallCap index, too, slipped 129 points at 13,984 levels. Jet Airways, Indiabulls Ventures, Manappuram Finance, Indiabulls Real Estate and IRB Infra contributed most to the index's fall.
Shares of IRB Infrastructure slumped 11% on the BSE after a media report said the NHAI was planning to find a new operator for the Mumbai-Pune Expressway after the company’s agreement ends in August.
Meanwhile, Indiabulls Group stocks fell sharply in the late morning trade, with Indiabulls HF dropping 8%, Indiabulls Real Estates slipped 5% and Indiabulls Ventures was down 2%.
Further, shares of Emami, GlaxoSmithKline Pharmaceuticals, Glenmark, HEG, Indiabulls Integrated Services, IRB Infrastructure Developers, Jet Airways, Jain Irrigation Systems, Lupin, Monsanto India, Reliance Capital, TV Today Network, Yes Bank, Alembic Pharma, Atul Auto, Bayer CropScience, Bharat Forge and Cadila Healthcare hit a 52-week low on NSE.
Currently, the Sensex was up 93 points to 39.139, while the Nifty rose 14 points at 11,705.
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