- At 1:18 pm, the Sensex traded down 85 points at 38,777, while the Nifty was at 11,621, down 45 points from the previous close.
- Bharat Petroleum, Adani Ports, Indian Oil and Vedanta - trading between 0.99 per cent and 1.87 per cent lower - were the top laggards on the 50-scrip index at the time.
- On the other hand, top gainers were Power Grid, IndusInd bank, Hindustan Unilever (HUL) and Mahindra & Mahindra, trading with gains of between 0.99 per cent and 1.99 per cent.
- The Nifty PSU Bank sectoral index jumped as much as 1.74 per cent to touch an intraday high of 3,352.20, outperforming the broader Nifty Bank index which rose 0.49 at the day's strongest point.
- Shares in Lakshmi Vilas Bank soared as much as 4.96 per cent to touch an intraday high of Rs 97.40 on the NSE, after the announcement of a merger between the private sector bank and housing finance firm Indiabulls Housing Finance. The Reserve Bank of India said over the weekend that it had not approved the merger proposal of the two.
- Indiabulls Housing Finance shares rose 1.49 per cent to hit Rs 916.55 at the day's highest level.
- The market breadth favoured gains, with 950 stocks on the NSE trading with advances and 685 trading lower.
- The markets receded from the day's highest levels as volatility set in. In late morning deals, the NSE's India VIX index - which gauges the market expectation of volatility in the near term - surged as much as 8.94 per cent.
- Equities in other Asian markets inched up to seven-month highs as investors cheered a rebound in US payrolls and hints of more stimulus in China, though there was some caution ahead of what is likely to be a tough US earnings season.
- MSCI's broadest index of Asia-Pacific shares outside Japan followed by gaining 0.4 per cent to its highest since August. Japan's Nikkei also made its high of the year so far and was last up 0.1 per cent.
(With agency inputs)
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