D-Street Buzz: Pharma, media stocks fall with Cipla & Sun TV down 7%; PSU banks gain

The Indian stock market continues to trade in the red with the Nifty50 shedding 59 points, trading at 10,493 while the Sensex is down 127 points at 34,884.

Nifty infra is down 1 percent dragged by Bharat Heavy Electricals, CG Power, Engineers India, IRB Infra, NTPC, Reliance Infra, Voltas and Tata Power.

Media stocks are also weak as Sun TV, TV Today, Network18, Dish TV, INOX Leisure and Zee Entertainment.

From the pharma space, the top losers are GSK Pharma, Cipla, Divis Labs and Aurobindo Pharma.

Nifty PSU bank is up 1.5 percent led by Bank of India, OBC, State Bank of India and Union Bank of India.

The top gainers from NSE include Axis Bank, State Bank of India, Wipro, HCL Tech and Reliance Industries.

The top losers include Indiabulls Housing Finance, IOC, Cipla, BPCL and HPCL.

The most active stocks are Axis Bank, PC Jeweller, SBI, Dewan Housing Finance and ICICI Bank.

Kilitch Drugs, Technocraft Industries, Universal Cables and Usha Martin are some of the few stocks which hit new 52-week high on the NSE.

41 stocks have hit new 52-week low including names like Amtek Auto, Pincon Spirit, Sharda Cropchem, SRS, V2 Retail and Vakrangee among others.

The breadth of the market favoured the declines with 801 stocks advancing and 926 declining while 347 remained unchanged. On the BSE, 1184 stocks advanced, 1356 declined and 158 remained unchanged.

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

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