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Last Updated : Sep 17, 2018 12:34 PM IST | Source:

D-Street Buzz: IT stocks gain led by Oracle Financial; sugar stocks continue to rally, RIL drags

The breadth of the market favoured declines, with 732 stocks advancing, 954 declining and 387 remaining unchanged. On BSE, 1149 stocks advanced, 1295 declined and 161 remained unchanged.

Sandip Das @Im_Sandip1
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Todays L/H

The Indian stock market have extended the morning loses and are trading well in the red this Monday  afternoon with the Nifty50 down 102 points and is trading at 11,412 while the Sensex is trading lower by 391 points at 37,699.

PSU bank index is down 1 percent dragged by Union Bank of India which is down 3 percent followed by Bank of BarodaState Bank of India and Allahabad Bank.

Nifty Energy is also trading lower by 1 percent with loses from Reliance Industries which shed 2 percent followed by ONGC. However, BPCL and HPCL are trading higher by 2.5-3 percent.

The FMCG index is lower by a percent dragged by Britannia Industries, Hindustan Unilever, ITC, Godrej Industries and United Spirits.

With rupee sliding 1 percent in the morning trade, IT is up led by Oracle Financial Services, Tata Elxsi, Mindtree, Tech Mahindra and Wipro.

From the BSE smallcap space, sugar stocks have taken the pole position led by Bajaj HindusthanDhampur Sugar, Ugar Sugar, Dwarikesh Sugar, Sakthi Sugars and Avadh Sugar which zoomed 20 percent after government approved hiking the price of ethanol produced directly from sugarcane juice for blending in petrol by 25 percent last Wednesday.

BPCL, HPCL, Indian Oil Corporation, Tata Steel and Grasim Industries are the top gainers on the Nifty.

The most active stocks include Balrampur Chini, Aurobindo Pharma, Reliance Industries, Divis Labs and YES Bank.

The top losers are Bajaj Finance, HDFC, Reliance Industries, Titan Company and State Bank of India which are down 1-2 percent.

The top BSE gainers include Venkys, EID Parry, Suzlon Energy, Balrampur Chini and Avanti Feeds among others.

The top losers include Kwality, Redington India, Ashoka Buildcon, Berger Paints and KEI Industries.

Monnet Ispat, Divis Labs, Alembic Pharma, Sonata Software and Universal Cables are few stocks which hit new 52-week high this Monday afternoon.

On the other hand, 68 stocks have hit new 52-week low including names like Ashoka Buildcon, IL& FS Transport and JK Tyre among others.

The breadth of the market favoured declines, with 732 stocks advancing, 954 declining and 387 remaining unchanged. On BSE, 1149 stocks advanced, 1295 declined and 161 remained unchanged.

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

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First Published on Sep 17, 2018 12:34 pm
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