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The S&P BSE Sensex slipped over 100 points on opening before paring most losses to trade rangebound in trade on Wednesday led by losses in ICICI Bank, HDFC, SBI and Lupin.The 50-share NSE Nifty50 traded around its crucial psychological level of 7,950 dragged by banking, pharma, IT and financial services stocks. 

Axis Bank Ltd down as much as 4.6 pct to its lowest since April 20; posts biggest intraday pct fall since Feb. 11.India's third-biggest private sector lender by assets sees bad loans rising in the current financial year.Lender also expects credit costs to be sharply higher, after Q4 profit fall.While this increased transparency is desirable and positive, we believe the higher stress guidance is likely to negatively affect the stock, says HSBC.