Sensex, Nifty under pressure amid consolidation; Kotak Bank, ITC drag

Epic Update ITC
Equity benchmarks fell further amid consolidation in afternoon, with the Nifty struggling below 9900 level, dragged by ITC, Kotak Mahindra Bank and Infosys.

The 30-share BSE Sensex was down 66.44 points at 31,888.91 and the 50-share NSE Nifty declined 29.85 points to 9,869.75.

Kotak Mahindra Bank dropped 1.5 percent after lower-than-expected profitability in June quarter. Infosys and ITC were down 0.6-1 percent.

Axis Bank extended gains to 4 percent on value buying and HDFC Bank was up 0.8 percent, which both helped Nifty Bank trade higher.

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