Sensex, Nifty in red... Banking, IT slip

The Volatility index has jumped over 8.5 per cent. Bank Nifty is the top loser.

The market continues to trade on a weak note on the back of heavy selling across-the-sectors.

The BSE Sensex so far has plunged to a low of 29,017 and now is down 1.4 per cent (411 points) at 29,038.

Similarly, the Nifty tumbled to a low of 8,801 and now is down 1.4 per cent (132 points) at 8,806.

The volatility index - India VIX has jumped 8.6 per cent to 15.6875.

The broader market is trading marginally in red zone. The CNX Midcap and the CNX Smallcap indices have shed 0.2-0.3 per cent each at 13,314 and 5,824, respectively.

Barring the CNX Pharma index, all the sectoral indices are trading in the negative territory. The Bank Nifty is the top loser - down 2 per cent on account of profit-taking ahead of IIP and CPI data this Thursday.

Axis Bank is the top loser in banking space, down 3 per cent at Rs. 599, followed by Kotak Bank and Bank of India, which have tumbled 2.4 per cent each at Rs. 1,378 and Rs. 224, respectively.

ICICI Bank has dropped 2.3 per cent at Rs 340. Yes Bank has slipped 2.2 per cent at Rs. 838.

Canara Bank, HDFC Bank and Bank of Baroda are some of the significant losers.

So far, 46 stocks have registered 52-week high. Colgate Palmolive, Container Corporation of India, Dhanuka Agritech, Eros International, Eveready Industries, Glenmark Pharmaceuticals and Lotus Eye Care Hospital are among the prominent gainers.

Whereas, Antarctica, Birla Power Solutions, Educomp Solutions, Shree Ganesh Jewellery House, Vishnu Chemical are among the losers, which has hit 52-week low