The South Indian Bank Limited is outperforming the Nifty Private Bank index trading higher by over 6% at Rs 21.5 per share.
The PSU Bank stocks are rallying as Cabinet meet is likely discuss the issue of rising NPAs in the banking sector.
The FMCG heavyweight, ITC Limited is trading in red lower by 1.08% at Rs 279.7 per share dragging the Nifty FMCG down.
There are 980 advances, 585 declines and 358 unchanged stocks on NSE reflecting fairly positive bias floating in the market.
At 1 PM, the S&P BSE Sensex is trading at 29590 down 56 points, while NSE Nifty is trading at 9162 down 11 points. A total of 90 stocks registered a fresh 52-week high in trade today, while 17 stocks touched a new 52-week low on the NSE.
The BSE Mid-cap Index is trading up 0.7% at 14088, while BSE Small-cap Index is trading up 0.7% at 14430.
Some buying activity is seen in Healthcare, Metal, Auto, while FMCG, Information Technology and Telecom are showing weakness on BSE.
Hindalco, IOC, BPCL, Tata Steel and Reliance are among the gainers, whereas HDFC Bank, Wipro, Bharti Airtel and HCL Technologies and Cipla are losing sheen on NSE.
The INDIA VIX is up 1.37% at 12.3.
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