On BSE, the market breadth was positive as 2,127 shares were advancing while 1,079 were declining.New Delhi: The Indian equity indices on Wednesday were trading in red amid highly volatile trade during late morning deals.
As of 11:35 am, the benchmark BSE Sensex fell 166 points or 0.29 per cent to 57,976; while the broader NSE Nifty moved 38 points or 0.22 per cent lower to 17,315.
The domestic indexes started on a higher note amid across-the-board buying but soon gave up gains led by weakness in banking stocks.Asian shares rallied as fears of a Russian invasion of Ukraine this week dissipated after Moscow indicated it was returning some troops to base from exercises.
The tension over the Ukraine situation has kept investors on the edge.Back home, mid- and small-cap shares were trading on a positive note as Nifty Midcap 100 index edged 0.19 per cent higher and small-cap shares gained 1.21 per cent.On the stock-specific front, State Bank of India (SBI) was the top Nifty loser as the stock cracked 1.60 per cent to Rs 516.40.
Eicher Motors, ICICI Bank, Larsen and Toubro (L-T) and UltraTech Cements were also among the laggards.In contrast, Adani Ports, Divi's Lab, Grasim Industries, ONGC and M-M were among the gainersOn BSE, the overall market breadth was positive as 2,127 shares were advancing while 1,079 were declining.On the 30-share BSE platform, SBI, ICICI Bank, L-T, UltraTech Cements, Wipro and Tata Steel attracted the most losses with their shares sliding as much as 1.58 per cent.Meanwhile, shares of Vedant Fashions, the owner of Manyavar brand, got listed at a premium of 8 per cent.IDBI Bank rose as much as 5.5 per cent after a report said the Centre might start privatising the state-owned lender soon.Sensex had rebounded 1,736 points or 3.08 per cent to close at 58,142 on Tuesday.
This was the biggest single-day jump for the benchmark index since February 1, 2021.
Nifty had settled 510 points or 3.03 per cent higher at 17,352.
Both the domestic indices had crashed 3 per cent on Monday, marking their worst day since mid-April 2021.