Equity indices open in red, LVB shares fall 20%

The key Indian equity indices opened on a negative note on Thursday due to profit booking along with weakness in the Asian markets.

It opened at 43,902.24 and fell over 350 points to an intra-day low of 43,821.39 points.

Around 9.35 a.m., it was trading at 44,056.33, lower by 123.72 points or 0.28 per cent from its previous close of 44,180.05

The Nifty50 on the National Stock Exchange was trading at 12,898.10, lower by 40.15 points or 0.31 per cent from its previous close.

Selling pressure was witnessed in banking, finance and telecom stocks.

Shares of Lakshmi Vilas Bank fell around 20 per cent for the second consecutive day after the Centre on Tuesday put the bank under moratorium.

Its shares on the BSE were at Rs 9.95, lower by Rs 2.45 or 19.76 per cent from its previous close.