The Sensex has shed all its gains and is now down 60 points at 20,790 and Nifty is lower by 20 points at 6250.
SBI leads the Sensex losers charts followed by HDFC, ACC, Tata Power and market heavyweight Reliance Industries while TCS, Tata Motors, Hindustan Unilever and Tata Steel are among the gainers on the Sensex.
Bankex continues to witness selling pressure, the index is at 14,797 down 93 points followed by Oil & Gas and PSU indices.
However, IT,Realty and FMCG indices are among the sectoral gainers.
SBI is the top loser among the banking stocks, the stock is trading at Rs 3293 down nearly 4%, after the bank reported a 22.5.% dip in Q2 net profit, however the bank's total income increased to Rs 37,925 cr from Rs 33,101 cr in the same quarter the previous fiscal.
Bank of Baroda, IDBI Bank, Punjab National Bank, Axis Bank and Yes Bank are other losers among the banking space.
Meanwhile, the Metal index which touched the intra-day high of 17,812 points has shed all its gains and is now near the day's low at 17,630.
The broader markets continue to hold firm with mid-cap index adding 23 points at 8695 and small-cap index adding 85 points at 11,139. The BSE 500 market breadth is also positive as 259 stocks are advancing while 228 stocks are declining.
