The top Nifty50 gainers include Tata Motors, Tech Mahindra, HCL Tech, Britannia Industries and Infosys while the top losers are YES Bank, ONGC, JSW Steel, Indiabulls Housing Finance and Tata Steel
Benchmark indices have slipped into the red with Sensex down 82 points at 37,558 marks while the Nifty shed 23 points and is trading at 11,082 level.
Metal stocks are under pressure with the index down over a percent dragged by SAIL and JSW Steel down over 2 percent each followed by Tata Steel, Jindal Steel & Power, Hindalco Industries and NALCO.
Bank Nifty shed half a percent, the top losers being RBL Bank which is down over 4 percent followed by YES Bank, IDFC First Bank, HDFC Bank, Bank of Baroda and Kotak Mahindra Bank.
However, Nifty Media added a percent led by Hathway Cable and DEN Networks which jumped 4-6 percent each followed by Network18, Jagran Prakashan, UFO Moviez and TV18 Broadcast.
IT stocks are also buzzing led by Infosys, Tata Elxsi and Tech Mahindra.
India VIX is down 1.19 percent and is trading at 15.82.
Gautam Shah of JM Financial told CNBC-TV18 that the market has gone through a lot of pain in the last few weeks and 12 percent decline from all-time highs is not a big fall.
He believes this is the most unsynchronised bear market so far.
"Nifty appeared very oversold at 10,600 levels and bearish momentum has been arrested for the time being," he said.
The top Nifty50 gainers include Tata Motors, Tech Mahindra, HCL Tech, Britannia Industries and Infosys while the top losers are YES Bank, ONGC, JSW Steel, Indiabulls Housing Finance and Tata Steel.
The most active stocks are YES Bank, Indiabulls Housing Finance, Tata Motors, HDFC Bank and IndusInd Bank.
Among the Nifty50 names, 19 stocks advanced while 31 declined.
112 stocks hit new 52- week low on BSE including Cox & Kings, Reliance Naval and Unitech among others. Stocks to hit 52-week high are Tata Global Beverages, Apollo Hospitals, MCX India, NIIT Tech, Nestle India and Bata India among others.
Get Best Stock Options Tips For More Updates in Stock Market Tips Give a Missed call @9644405057 and Get Free Trial
No comments:
Post a Comment