Sensex, Nifty down in volatile trade; banking, IT stocks fall

Paring its initial gains, the benchmark BSE Sensex was down 62.76 points, or 0.22 per cent, at 28,235.37 in late morning trade on selling in select banking, FMCG and IT stocks.
The NSE Nifty too fell by 17.5 points to 8,571.15 at 1127 hours as volatility grips the markets.
The BSE Sensex resumed higher at 28,327.11 and hovered in a range of 28,335.67 and 28,240.33. It was quoted at 28,235.37 points, a loss of 62.76 points or 0.22 per cent at 1127 hours.
Selling was seen in Tech, Realty, Metal and Banking stocks, pushing the barometer into the negative zone. However, gains in Oil&gas, power and healthcare, limited the Sensex fall.

SBI fell 1.20 per cent, followed by Coal India 0.89 per cent, ITC 0.69 per cent, TCS 0.68 per cent and Axis Bank 0.65 per cent.
Major gainers were, ONGC 2.40 per cent, Vedl 2.21 per cent, Tata Motors 1.46 per cent, M&M by 1.22 and Reliance by 1.18 per cent.

Foreign portfolio investors (FPIs) bought shares worth a net Rs 108.93 crore yesterday, as per provisional data released by the stock exchanges.
Asian stocks were trading mixed. Key benchmark indices in Taiwan and South Korea fell 0.19 per cent to 0.67 per cent. Indices in China, Hong Kong and Japan rose 0.25 per cent to 1.9 per cent.

US stocks finished lower yesterday, testing technical levels in a volatile trading session as media stocks suffered a big hit and investors awaited the closely watched jobs report due Friday morning.