Financials shares edge lower

Financials stocks were trading in red, with the S&P BSE Financial Services index falling 214.92 points or 2.5% at 8396.08 at 13:46 IST.

Among the components of the S&P BSE Financial Services index, Mahindra & Mahindra Financial Services Ltd (down 12.85%), Cholamandalam Investment & Finance Company Ltd (down 6.32%),Punjab National Bank (down 4.82%),JSW Holdings Ltd (down 4.69%),Canara Bank (down 4.57%), were the top losers. Among the other losers were Mangalam Industrial Finance Ltd (down 4.4%), Federal Bank Ltd (down 4.35%), IIFL Wealth Management Ltd (down 4.33%), Bank of Baroda (down 4.23%), and IDFC First Bank Ltd (down 4.14%).

On the other hand, Tourism Finance Corporation of India Ltd (up 5.61%), JM Financial Ltd (up 4.97%), and Max Ventures and Industries Ltd (up 4.34%) moved up.

At 13:46 IST, the S&P BSE Sensex was down 880.7 or 1.49% at 58239.02.

The Nifty 50 index was down 260.05 points or 1.48% at 17369.75.

The S&P BSE Small-Cap index was down 374.81 points or 1.28% at 29002.54.

The S&P BSE 150 Midcap Index index was down 153.68 points or 1.69% at 8953.89.

On BSE,1037 shares were trading in green, 2341 were trading in red and 136 were unchanged.

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