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Market trades volatile; pharma, bank shares dip

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Indian equity indices traded volatile on Friday noon tracking weak global cues and the fall in the Indian rupee, triggering sustained selling in most sectors.

Market trades volatile; pharma, bank shares dip
Indian equity indices traded volatile on Friday noon tracking weak global cues and the fall in the Indian rupee, triggering sustained selling in most sectors.
Amid the ongoing US-China trade war, investors also remained cautious ahead of US Federal Reserve chairman Jerome Powell's speech at the annual global central bank conference in Jackson Hole in Wyoming.
The Sensex was trading at 38,280.73, lower by over 56 points or 0.15 percent at 11:45 AM, while the Nifty 50 slipped to 11,570.35, down by 12.40 points or 0.11 percent.
Market had recovered mildly in mid-morning session on the back of buying in PSU Bank shares, after a tepid start in the morning session.
Midcaps trade weak, with the Nifty MidCap lower by 0.15 percent and the BSE MidCap down by 0.13 percent. The Nifty Pharma, PVT Bank and Bank declined the most among sectoral indcies, most of which were in the red.
Only IT, Metal and Realty were in the green with modest gains.
Shares of ONGC, Wipro, Power Grid, Vedanta, Coal India, Bharti Infratel and UPL gained on indexes, while Yes Bank, ICICI Bank, Sun Pharma, Titan Company, Hero MotoCorp and IndusInd Bank declined.
Asian stocks were mixed, tracking overnight losses on the Wall Street. Hong Kong's Hang Seng was down 0.42 per cent, while Japan's Nikkei was up 0.82 per cent at 11:57 AM IST.
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