Indian benchmark indices are trading lower in the late morning session amid highly volatile trade.
The Sensex hovered around 39,000, while the Nifty was below 11,600.
Sectorally, all indices were trading in the red except Nifty Media and Realty.
Nifty PSU Bank was down 1.2% led by Indian Bank and SBI. Indian Bank was off 8% even though it posted robust growth in PAT in Q2.
Nifty Pharma was off 1.2% led by Biocon which lost 6% as its Q2 earnings disappointed the street.
Among top gainers were HCL Tech, Eicher Motors, and Tech Mahindra. Losers included Bharti Airtel, BPCL, and Grasim.
HCL Tech rose 6% intraday after posting its Q2 results. The tech major reported its Q2FY20 net income at Rs2,651cr; up 19.4% qoq & 4.4% yoy. Further, its FY20 Revenue is expected to grow between 15.0% to 17.0% in constant currency.
ITC, Maruti Suzuki, Colgate Palmolive, Raymond, PNB Housing Finance, IDFC First, Cummins, Bandhan Bank, and Shriram Transport will declare their Q2 results today along with several other companies.
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