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Indian equity ebnchmarks have given up morning gains and declined to trade at day's lows during the afternoon session.
Indian equity benchmarks reversed early gains on Friday, with the Nifty 50, Sensex and major sectoral indices trading lower by midday. The sell-off extended across market segments, with mid-cap and small-cap stocks facing sharper declines than the benchmark indices.
The Nifty 50 was down around 1.3% at 22,396, while the Sensex fell 1% to 72,520, according to the latest market data. The Nifty Next 50 dropped 3.24%, while the Nifty Midcap 100 declined 3.1%. The Nifty Smallcap 250 was down 3.61%, and the Nifty Realty index fell nearly 4%.
Banking stocks also came under pressure, with the Nifty Bank down around 1.5%. The Nifty IT index was relatively resilient, declining around 0.25%.
Market breadth remained weak, with 92 stocks declining, three advancing and 89 unchanged on the market dashboard. The Nifty 50, Nifty Bank and Nifty 100 were flagged as trading near their day's lows on the Market Pulse dashboard.
India VIX, the volatility index, rose 6.58% to 16.80, indicating a rise in expected market volatility.
