Equity indices volatile, metals gain while PSBs drag

Equity benchmark indices fluctuated between gains and losses on Thursday ahead of the expiry of December series futures and options (F & O) contracts.

At 12:10 pm, the BSE S & P Sensex was down by 98 points to 41,363 while the Nifty 50 slipped by 27 points at 12,187.

Except for Nifty metal and auto, all sectoral indices at the National Stock Exchange were in the red. Nifty PSU bank dropped by 0.75 per cent but Nifty metal rose by 1.07 per cent.

Metal majors had a good time with Vedanta moving up by 2.8 per cent at Rs 152.20 per share. JSW Steel rose by 1.8 per cent and Tata Steel by 1.5 per cent.

Auto companies Mahindra & Mahindra and Eicher Motors jumped by 1.1 per cent and 1.05 per cent respectively while Bajaj Finance and Bajaj Finserv rose by 0.7 per cent and 0.6 per cent. IT giants HCL Technologies and Tech Mahindra showed marginal gains.

However, IndianOil Corporation lost by 1.5 per cent to Rs 125.40 per share. Yes Bank was down by 1.2 per cent after a rating downgrade by Brickwork. Coal India, Bharti Airtel and Larsen & Toubro edged lower by 1 per cent each.

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