Sensex, Nifty witness volatile trading; Axis Bank surges 5 per cent

After losing 1545.67 points or 2.62 per cent on Monday, the 30 stock S&P BSE Sensex of the Bombay Stock Exchange opened the trade in the red at 57,158.63 points and tumbled to a low of 56,409.63 points within a few minutes of opening of the trade.

The Sensex was trading at 57,021.01 points at around 11.05 am, which is 470.5 points, or 0.82 per cent lower from its previous day's close at 57,491.51 points.

The Sensex touched a high of 57,626.95 points at around 10 am.

The broader Nifty 50 of the National Stock Exchange was trading at 17,028.20 points, which is 120.90 points or 0.7 per cent down from its previous day's close at 17,149.10 points.

The Nifty also opened in the negative at 17,001.55 points and touched a low of 16,836.80 points in the early morning trade. The Nifty also briefly moved into positive terrain rising to a high of 17,201.45 points.

Axis Bank soared over 5 per cent a day after the company posted 224 per cent surge in its third quarter profit year-on-year. Axis Bank was trading at 5.02 per cent higher at Rs 739.70. The Bank on Monday said its net profit surged 224 per cent to Rs 3,614 crore during the third quarter of the current financial year as compared with the same quarter of last year.

Bharti Airtel rose 3.16 per cent to Rs 711.40. IndusInd Bank 2.28 per cent higher at Rs 869.25 and State Bank of India 1.97 per cent higher at Rs 503.85 were among the major Sensex gainers.

Asian Paints tumbled 2.24 per cent to Rs 3085. Wipro fell 1.79 per cent to Rs 562.40.

Reliance Industries fell sharply for the second consecutive day after announcing Q3 results. Reliance Industries was trading 1.60 per cent down at Rs 2339.50.

HDFC Bank 1.77 per cent down at Rs 1461.15; HDFC 1.66 per cent down at Rs 2496.80; Titan 1.48 per cent down at Rs 2367.35; Bajaj Finance 1.38 per cent down at Rs 6837.35 and Bajaj Finserv 1.32 per cent down at Rs 15500 were among the major Sensex losers. (ANI)