The key benchmark indices hit fresh intraday low in afternoon trade after surging to record high in mid-morning trade. Metal and mining stocks declined.
The BSE Small-Cap and Mid-Cap indices also reversed intraday gains. The barometer index, the S&P BSE Sensex, was down 98.09 points or 0.38%, off 250.27 points from the day's high and up 31.99 points from the day's low.
Shares of three listed associate banks of State Bank of India (SBI) - State Bank of Mysore, State Bank of Bikaner and Jaipur and State Bank of Travancore rallied to hit 52-week highs on reports that SBI is planning to merge its three listed and two unlisted associate banks with itself.
The market breadth indicating the overall health of the market was positive. The total turnover on BSE amounted to Rs 3169 crore.
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