Market

Afternoon Session: Market edges lower ahead of F&O expiry; Nifty below 12,200 as financials drag

Updated : December 26, 2019 12:44 PM IST

Banks, pharma and financial services stocks reeled under pressure while gains were seen in only metals and auto counters.

Nifty Metal index gained over 1 percent while selling in state-run lenders pressurised Nifty Bank, taking it below 32,200 levels.

Indian benchmark indices traded lower Thursday afternoon amid lack of fresh triggers ahead of December derivative series expiry.

At 12:10 pm, the 30-share BSE index was trading 106.96 points or 0.26 percent lower at 41,354.30 while the NSE Nifty50 index was trading at 12,187.65, down 26.90 points or 0.22 percent.

Banks, pharma and financial services stocks reeled under pressure while gains were seen in only metals and auto counters.

Nifty Metal index gained over 1 percent while selling in state-run lenders pressurised Nifty Bank, taking it below 32,200 levels.

Indian Oil Corporation, Yes Bank, Coal India, Bharti Airtel and L&T were top losers while Vedanta, JSW Steel, Tata Steel, M&M, and Eicher Motors were the top gainer on Nifty50.

On the front of the global markets, stocks in Asia mostly edged higher on Thursday afternoon. Markets in Australia and Hong Kong were closed for holidays.

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