Finance Update

D-Street Buzz: IT stocks slip with TCS down 3%; Tata Motors jumps 2%, HDFC hits 52-week high


Post RBI monetary policy, the Indian benchmark indices have extended the respective loses with Nifty trading at 11,582, down 61 points while the Sensex is lower by 227 points and is trading at 38,650.

At 14:45 hrs, Nifty IT shed 1.5 percent dragged by Tata Consultancy Services which is down 3 percent followed by HCL Tech, Wipro, Tech Mahindra, Tata Elxsi and Infosys.

From the oil & gas space, the top losers are Reliance Industries, GAIL India, BPCL and Oil & Natural Gas Corporation.

Bank Nifty is also trading in the red with loses from IndusInd Bank, Kotak Mahindra Bank, IDFC First bank, Punjab National Bank, YES Bank, RBL Bank, ICICI Bank and Bank of Baroda.

Nifty Metal shed close to a percent dragged by Jindal Stainless, Hindalco Industries, Hindustan Copper, JSW Steel and Jindal Steel & Power.

However, Nifty Media gained half a percent led by Zee Entertainment, PVR, Dish TV and DEN Networks.

Selective auto stocks are trading in the green led by Tata Motors, Hero MotoCorp, Exide Industries, Maruti Suzuki and Bajaj Auto.

From the BSE midcap space, the top gainers are ICICI Securities, Varroc Engineering, PNB Housing and Godrej Properties while the top losers are Reliance Infra, MRPL, Future Retail and Bajaj Holdings.

From the BSE smallcap space, the top gainers are Asian Oil, Orient Cements, Neuland Labs and FORCE Motors while the top losers are Shiva Texyarn, Repco Home and Zuari Agro.

India VIX was down by 0.8 percent at 18.63 levels.

The top Nifty gainers include Indiabulls Housing Finance, Tata Motors, Hero MotoCorp, Zee Entertainment and Bharti Airtel while TCS, IndusInd Bank, Hindalco, BPCL and HCL Tech are the top losers.

The most active stocks are Indiabulls Housing, YES Bank, Reliance Industries, Maruti Suzuki and State Bank of India.

HDFC, SRF, Bil Energy Systems, Jai Balaji Industries, MT Educare, Seamec and Spacenet Enterprises hit 52-week high on NSE while Cox & Kings, Vodafone Idea, Reliance Communications and Uttam Value Steels hit new 52- week low.

The breadth of the market favoured the declines as 575 stocks advanced and 1,134 declined while 373 remained unchanged. On the BSE, 946 stocks advanced, 1,503 declined and 165 remained unchanged.

Disclosure

:

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



Source

Prakash Poojary
Business Analyst

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