Profit booking drags the indices lower and as investors wait for cues from exit poll results of assembly elections. Tata Steel, Hindalco and Axis Bank remain the top losers on both the indices.
The market fell furthermore in late morning trade as investors looked to book profits ahead of the key exit poll data for assembly elections on Thursday. The NSE Nifty is trading well below 8950-mark while the BSE Sensex is down 64.01 points at 28984.18, while the Nifty was down 24.15 points at 8939.30. The market breadth was negative as 1,032 shares had advanced, while 1,450 shares declined in noon trade. Meanwhile, 137 shares remained unchanged. Bharat Financial Inclusion tanked nearly 7 percent intraday after the microfinance institution indicated a risk of 4.5 percent of its loan book turning bad in the December quarter.
Tata Steel, Hindalco and Axis Bank were major laggards on the indices, while Adani Ports, TCS and BPCL were the top gainers.