Bearish trends grip bourses financial stocks suffer

Equity benchmark indices traded substantially lower during early hours on Wednesday in line with their Asian peers amid inflation fears globally. At 10:45 am, the BSE S&P Sensex was down by 396 points or 0.81 per cent at 49,766 while the Nifty 50 slipped by 122 points or 0.82 per cent to 14,728. Sectoral indices at the National Stock Exchange were mixed with Nifty financial service and private bank sliding by 1.1 per cent each, IT by 1 per cent and auto by 0.6 per cent. But Nifty PSU bank rose by 1.8 per cent. Among stocks, home loan lender HDFC fell by 2 per cent to Rs 2,414.10 per share while Hindustan Unilever dropped by 1.9 per cent to Rs 2,354.