NEW DELHI: The Nifty Financial Services index was down with most of its components trading lower in Wednesday's afternoon session.

Shares of Bajaj Holdings & Investment (down 2.68 per cent), State Bank of India (down 2.60 per cent), Power Finance Corporation (down 2.53 per cent) and ICICI Prudential Life Insurance Company (down 2.52 per cent) were trading with losses.

Bajaj Finserv (down 2.33 per cent), Indiabulls Ventures (down 1.89 per cent), Housing Development Finance Corporation (down 1.34 per cent), and Mahindra & Mahindra Financial Services (down 1.30 per cent) too were trading lower.

The Nifty Financial Services index was trading 1.02 per cent down at 12,238 around 02:49 pm.

Benchmark NSE Nifty50 index was down 109.10 points at 11,388.80 while the BSE Sensex was down 377.03 points at 37,899.60.

Among the 50 stocks in the Nifty index, 9 were trading in the green, while 41 were in the red.

Shares of Vodafone Idea, ZEEL, DHFL, YES Bank, Dish TV India, Suzlon Energy, Tata Motors, Vedanta, PC Jeweller and PNB were among the most traded shares on the NSE.