With several blue chip stocks reeling under pressure, the market looks set to end on a weak note today. There are some impressive results from top notch banks, including ICICI Bank, Punjab National Bank and Union Bank of India, but investors appear keen on taking some profits.
The Sensex, which declined to 19,865.72, is down 106.54 points or 0.53% at 19,898.46. The Nifty is down 19.40 points or 0.32% at 6036.45, off the day's low of 6025.15.
Among the major losers, HDFC Bank, Ranbaxy Laboratories, Tata Power, ICICI Bank, Reliance Industries, Larsen & Toubro, Bharti Airtel and HDFC are down 1.3% to 2.3%. Jindal Steel & Power and Maruti Suzuki are also down sharply.
Punjab National Bank is up more than 9% on strong volumes, thanks to upbeat results. Bank of Baroda has gained nearly 4%. BHEL, DLF and Ambuja Cements are up 2% - 3%.
Hero Motocorp, Siemens, Sun Pharmaceutical Industries, ITC and NTPC are also up with impressive gains.