Markets bearish as Sensex sheds 500 pts, Nifty around 18,500

Domestic benchmark indices trading in the red after a gap-down opening on Thursday's's trading session. Both the Sensex and Nifty benchmarks are marginally lower in the afternoon market session. Moreover, Indian markets may witness volatility among sectors amid weak global cues.

On the sectoral front, except oil & gas stocks, all other sectoral indices are trading in the red territory. IT index underperformed by tumbling over 500 points follwed by auto, pharma and metal stocks plunging marginally.

At around 2:00 PM, Sensex was trading at 62,119.75 lower by 558.16 points or 0.89%. Nifty 50 traded at 18,524.30 lower 136 points or 0.73%

Top Bulls on Nifty 50 are: Hero MotoCorp (+1.08%), SBI Life (+1.04%), Britannia (+0.91%) supported by HDFC Life (+0.6%) and BPCL (+0.57%). Meanwhile, top losers on Nifty are: Tech Mahindra (-2.85%), Infosys (-2.05%), Titan (-1.95%), JSW Steel (-1.6%) and TCS (-1.47%).

Further, today IDBI Bank hits 52-week high and rallied 7% so far on an intraday basis after the  government extended the deadline for privatization till January 07. The stock has logged gains of more than 10% so far this month.

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