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Sensex continued to trade on a weak note in the late noon deals on Friday weighed down by selling pressure in IT and oil & gas stocks.
The Nifty was hovering around 8,850 on the back of selling pressure visible in the heavyweight stocks like Reliance Industries, ICICI Bank, Wipro and Infosys.
The broader markets were outperforming the benchmark indices. The BSE mid-cap and small-cap indices were up 0.3 and 0.7 per cent each respectively.
Oil & gas stocks were the worst hit in trades today after the shares of Reliance Industries slipped nearly 3 per cent on news that an employee of the company has been detained in the corporate espionage case involving the alleged leak of classified documents from the petroleum ministry to corporates.
IT stocks were also facing selling pressure. The BSE IT index slipped nearly 1 per cent. Technology heavyweights like Wipro, HCL Technologies, Infosys and Tech Mahindra were trading on a weak note.
From the Nifty basket, Reliance Industries was the top loser. Tata Power, HCL Technologies, ICICI Bank, Bharti Airtel, HDFC and Wipro were also trading weaker by over 1 per cent each. On the other hand, BHEL was the top Nifty gainer the stock was up 4.2 per cent at Rs 273. Bank of Baroda, IndusInd Bank and Jindal Steel were also among the gainers.
At 3:05 PM, the Sensex was down 180 points at 29,280 and the Nifty was at 8,846, down 49 points.
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