Equity indices in red; banking stocks under pressure

The key Indian equity indices traded on a negative note on Friday with the BSE Sensex losing over 300 points during the initial trade.

It is the second consecutive day of fall in the domestic stock market after the recent record run and positive trend for eight straight sessions.

Heavy selling pressure was witnessed in banking and finance stocks on Friday.

The indices have however trimmed losses to currently trade at 43,306.52, lower by 50.67 points or 0.12 per cent from its previous close of 43,357.19.

It opened at 43,298.92 and has so far touched an intra-day high of 43,522.25 and a low of 43,053.37.

The Nifty50 on the National Stock Exchange was trading at 12,680.95, lower by 9.85 points or 0.08 per cent from its previous close.