D-Street Buzz: Nifty Metal underperforms dragged by JSPL, NMDC; BPCL down 3%, FMCG rises

The Indian benchmark indices continues to trade in the green in this Wednesday afternoon session with the Nifty50 down 16 points, trading at 10,818 while the Sensex gained 111 points and was trading at 36,092.

Nifty Metal was down over a percent dragged by JSPL which shed over 4 percent followed by NMDC, SAIL, JSW Steel, Tata Steel and Vedanta.

PSU banks were  also trading weak with loses from Bank of India, Canara Bank, Indian Bank, Syndicate Bank, Union Bank of India and Punjab National Bank.

Selective FMCG stocks were buzzing led by Dabur India, ITC and Marico.

The top gainers from NSE included Axis Bank, ITC, Tata Motors, Bharti Airtel and HDFC while the top losers included GAIL India, HPCL, BPCL, Tata Steel and YES Bank.

The most active stocks were Infosys, Axis Bank, YES Bank, GRUH Finance and ICICI Bank.

ICICI Bank, Bata India, PVR, IOL Chemicals and Pharmaceuticals, Praj Industries and Gujarat Fluorochemicals have hit new 52-week high in this afternoon session.

43 stocks have hit new 52-week low including names like Tata Steel, RAIN Industries, Nagarjuna Oil Refinery, Sandhar Technologies, SRS, Lux Industries and MVL among others.

The breadth of the market favoured the declines with 648 stocks advancing and 1032 declining while 386 remained unchanged. On the BSE, 1044 stocks advanced, 1466 declined and 152 remained unchanged.

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

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