Equity indices hit fresh intraday low as selling pressure intensified in morning trade. The Nifty slipped towards 14,700 mark. PSU banks and pharma stocks were in demand while IT, metal and auto stocks corrected.
At 10:31 IST, the barometer index, the S&P BSE Sensex, was down 441.89 points or 0.9% at 48,719.68. The Nifty 50 index was down 131.40 points or 0.88% at 14,719.35.
In the broader market, the S&P BSE Mid-Cap index was down 0.49% while the S&P BSE Small-Cap index fell 0.22%.
The market breadth was positive. On the BSE, 1431 shares rose and 1185 shares fell. A total of 147 shares were unchanged.
Indian stock markets will remain shut tomorrow, 13 May 2021, on account of Id-Ul-Fitr (Ramzan Id).