Sensex sinks 250 pts; PSU Bank bucks trend ahead of SBI Q1 nos

Benchmark indices extended losses due to weak Europe opening.

The Sensex was down 244.73 points at 31,286.60 and the Nifty declined 75.80 points to 9,744.45 but the broader markets outperformed after 3-day fall.

The BSE Midcap index was up 0.4 percent and the advance:decline ratio also improved. About three shares declined for every share rising on the BSE against the ratio of 8:1 in early trade.

All sectoral indices barring PSU Bank traded lower in afternoon trade.

PSU Bank index gained 0.5 percent ahead of earnings from country’s largest lender SBI due later today.

All eyes are its asset quality of the bank.

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