Sensex down 400 points, banking stocks fall

Mumbai: The key Indian equity indices declined on Friday morning with the BSE Sensex losing over 400 points.

Heavy selling pressure was witnessed in banking and finance stocks. However, buying in metal and oil and gas stocks restricted the losses.

Around 10.15 a.m., Sensex was trading at 49,335.39, lower by 430.55 points or 0.87 per cent from its previous close of 49,765.94.

It opened at 49,360.89 and has so far touched an intra-day high of 49,569.42 and a low of 49,229.51 points.

The Nifty50 on the National Stock Exchange was trading at 14,826.60, lower by 68.30 points or 0.46 per cent from its previous close.

The major losers on the Sensex so far were HDFC Bank, HDFC and Hindustan Unilever, while the top gainers were ONGC, NTPC and Dr Reddy's Laboratories.