D-Street Buzz: Nifty PSU Bank shed 1% dragged by IDBI Bank; Dabur down 3%, ITC slips

The Indian benchmark indices continues to stay in bear grip and have extended the respective loses with the Nifty50 down 64 points, trading at 10659 while the Sensex was down 239 points and was trading at 35,570 mark.

Nifty Energy continued to trade lower by 1 percent with loses from HPCL and Reliance Industries which were down over 1.5 percent each followed by Indian Oil Corporation.

PSU banks were also down led by IDBI Bank which was down 5 percent followed by Vijaya Bank, Punjab National Bank, Indian Bank, Bank of India and Bank of Baroda.

Selective FMCG stocks were trading lower with loses from Godrej Consumer, HUL, ITC, Hindustan Unilever, GSK Consumer, Godrej Industries, Proctor & Gamble, Tata Global Beverage and Marico.

The top gainers from NSE included Bharti Infratel, ONGC, Zee Entertainment, Axis Bank and IndusInd Bank while the top losers included YES Bank, TCS, ITC, Coal India, and Bajaj Finserv.

The most active stocks were YES Bank, Reliance Industries, ITC, TCS and Dr Reddy’s Labs.

Aditya Birla Fashion and Retail, Bata India, IPCA Laboratories and Tech Mahindra have hit new 52-week high in this afternoon session.

306 stocks have hit new 52-week low on the NSE including names like ABG Shipyard, Amtek Auto, Andhra Bank, Arvind, Ashok Leyland, Firstsource Solutions, Global Offshore, Mahindra Lifespace, Mercator, MRF, Natco Pharma, Natco Pharma, Unitech and Vijaya Bank among others.

The breadth of the market favoured the declines with 545 stocks advancing and 1153 declining while 381 remained unchanged. On the BSE, 842 stocks advanced, 1672 declined and 137 remained unchanged.

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

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