Sensex extends fall; PNB dips after weak results

Reuters Market Eye - The BSE Sensex is down 0.7 percent and the broader Nifty is lower 0.75 percent with blue-chip stocks and banks leading the decline.

Punjab National Bank falls more than 4 percent after its July-September net profit halves to sharply below consensus estimates.

HDFC Bank is down 1.4 percent, State Bank of India falls 0.3 percent and Bank of Baroda drops 1.2 percent. The Bank Nifty down 1.1 percent.

Blue chips such as Tata Consultancy Services Ltd falls 1.4 percent on profit-taking, while Housing Development Finance Corp drops more than 3 percent.

Tata Motors up 0.8 percent ahead of its quarterly results due just around market close.

 

(Reporting by Swati Bhat)