D-Street Buzz: Zee Entertainment, Tech Mahindra jump 6-7%; Infosys hits new 52-week high, midcaps drag

The bulls have taken over Dalal Street in this Wednesday afternoon session with the Sensex and Nifty up 1 percent each. Nifty50 jumped 115 points, trading at 11049 while the Sensex rallied 328 points and was trading at 36944 mark.

Nifty Media continued to outperform, jumping over 4 percent led by Dish TV which zoomed 13 percent followed by Zee Entertainment which jumped close to 7 percent. The other gainers were Zee Media and Sun TV Network.

From the oil & gas space, the top gainers were HPCL, Reliance Industries, ONGC, GAIL India and Indian Oil Corporation.

Nifty IT added 2 percent with gains from Tech Mahindra which spiked 7 percent followed by Infibeam, Mindtree, TCS, Wipro and Infosys.

Selective midcap stocks continued to drag led by Apollo Tyres, Federal Bank, Cummins India, Dewan Housing Finance, IDBI Bank, Muthoot Finance, IGL, Jubilant Food and Tata Chemicals among others.

The top gainers from NSE included Zee Entertainment, Tech Mahindra, Tata Steel, HPCL and Bajaj Finance while the top losers included Dr Reddy’s Labs, Adani Ports, YES Bank, IndusInd Bank and Titan Company.

The most active stocks were Reliance Infra, Jubilant Foodworks, Tech Mahindra, Reliance Industries and Zee Entertainment.

Axis Bank, Divi’s Laboratories, Infosys, Tech Mahindra, UPL and Wipro have hit new 52-week high in this afternoon session.

379 stocks have hit new 52-week low on the NSE including names like Aban Offshore, Adlabs Entertainment, Andhra Bank, Andhra Cements, RCom, IL&FS Transport, Kwality, JP Associates and GVK Power among others.

The breadth of the market favoured the declines with 639 stocks advancing and 1076 declining while 343 remained unchanged. On the BSE, 913 stocks advanced, 1565 declined and 136 remained unchanged.

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

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