D-Street Buzz: Nifty Auto underperforms dragged by Tata Motors; Zee Ent falls 3%, VIX spikes

The Indian benchmark indices have turned negative in this afternoon session with Nifty50 down 75 points, trading at 11,752, while the Sensex shed 230 points and is trading at 39,121. All sectors are trading in the red left aside by the FMCG space which is marginally trading in the green.

Tata Motors, down over 8 percent is the biggest loser from the auto space followed by Tata Motors DVR, Motherson Sumi Systems, Mahindra & Mahindra, Exide Industries and Bharat Forge.

Media stocks are also trading in the red with loses from Zee Entertainment, Sun TV, TV Today, Network18, EROS International Media and DEN Networks.

From the BSE midcap space, the top gainers are Edelweiss Financial Services, United Breweries, Divis Labs, CRISIL and PNB Housing Finance while the top losers are Reliance Power, NALCO, Torrent Pharma, IDBI bank and Union Bank of India.

From the smallcap space, the top gainers are ESAB India, HPL Electric, Emami Realty and Aksh Optifibre while the top losers are Shree Pushkar Chemicals and Shivtex.

India VIX spiked 4.90 percent at 24.84 levels.

The top Nifty gainers included Bharti Infratel which jumped 3 percent followed by Dr Reddy’s Labs, Reliance Industries, Britannia Industries and Titan Company while the top losers are BPCL, Tata Motors, Zee Entertainment, UltraTech Cement and IOC.

The most active stocks were Reliance Industries, Indiabulls Housing Finance, HDFC, Bajaj Finance and State Bank of India.

34 stocks have hit new 52-week high including Adani Ports, Axis Bank, Bajaj Finserv, Bajaj Finance, HDFC, HDFC Bank, Just Dial, Kotak Mahindra Bank, Larsen & Toubro, Muthoot Finance, State Bank of India, Titan Company, UPL, and Siemens.

61 stocks hit new 52-week low on NSE including Fortis Healthcare, Jubilant Life Sciences, Mangalore Refinery and Petrochemicals, Sterlite Technologies.

The breadth of the market favoured the declines as 522 stocks advanced and 1215 declined while 360 remained unchanged on the NSE. On the BSE, 865 stocks advanced, 1628 declined and 146 remained unchanged.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

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