D-Street Buzz: PSU Banks in red led by Indian Bank; RIL rises, YES Bank most active

The Indian benchmark indices continues to trade in the red but has come off the low point of the day with the Nifty50 down 51 points, trading at 10694 while the Sensex fell 150 points and was trading at 35,725 mark.

The pharma sector was the underperforming sector, down over 3 percent dragged by Glenmark Pharma, Dr Reddy’s Labs, Divis Labs, Lupin, Sun Pharma and Aurobindo Pharma.

PSU Banks were also trading in the red with loses from Indian Bank, Canara Bank, Punjab National Bank, State Bank of India, Oriental Bank of Commerce, Syndicate Bank, Bank of India and Bank of Baroda.

From the metal space, the top losers were JSW Steel, Hindustan Copper, Jindal Steel & Power, SAIL and Tata Steel

However, Nifty Energy was trading in the green led by gains from BPCL, GAIL India, ONGC and Reliance Industries.

From the infra space, the top gainers were Adani Power which spiked 7 percent followed by Bharti Infratel, NTPC, Power Grid and Tata Power.

The top gainers from NSE included Bharti Infratel, Power Grid, NTPC, BPCL and GAIL India while the top losers included Dr Reddy’s Labs, JSW Steel, Sun Pharma, Tata Steel and Vedanta.

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

Aditya Birla Fashion and Retail, Sagardeep Alloys, SKF India and Xelpmoc Design And Tech have hit new 52-week high in this afternoon session.

258 stocks have hit new 52-week low on the NSE including names like Balmer Lawrie & Company, Dr Reddy’s Labs, Hindalco Industries, Cadila Healthcare, Castex Technologies, Cochin Shipyard, Gujarat State Petronet, Kitex Garments, Mahindra & Mahindra, Natco Pharma, Punj Lloyd, RAIN Industries, Rashtriya Chemicals and Fertilizers, Sagar Cements and Unitech among others.

The breadth of the market favoured the declines with 571 stocks advancing and 1125 declining while 362 remained unchanged. On the BSE, 827 stocks advanced, 1614 declined and 128 remained unchanged.

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

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