Banking and financials drag down equity indices, ICICI Bank top loser

Equity benchmark indices snapped three-days of winning streak during early hours on Thursday on weak global cues after the Federal Reserve warned that the US economic recovery faces a highly uncertain path.

At 10:15 am, the BSE S and P Sensex was down by 291 points or 0.75 per cent at 38,324 while the Nifty 50 slipped by 75 points or 0.66 per cent at 11,333.

Most sectoral indices at the National Stock Exchange were in the red with Nifty private bank and financial service dipping by 1 per cent each.

Among stocks, ICICI Bank lost by 2.2 per cent to Rs 366.30 per share while IndusInd Bank and Kotak Mahindra Bank retreated by 1.5 per cent and 1.1 per cent respectively.