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Last Updated : Feb 18, 2019 01:23 PM IST | Source:

D-Street Buzz: IT stocks in red dragged by TCS; Dr Reddy's Labs jumps 2%, Yes Bank falls

The top gainers from NSE included Dr Reddy's Labs, NTPC, Tech Mahindra, Vedanta and ONGC while the top losers included YES Bank, Coal India, Bajaj Auto, UltraTech Cement and Titan Company.

Sandip Das @Im_Sandip1

The Indian benchmark indices have slipped in the red after trading flat with the Nifty50 down 44 points, trading at 10680 while the Sensex fell 140 points and was trading at 35,668 mark.

At 9:30 hrs, Nifty Auto was down half a percent with loses from Ashok Leyland, Tata Motors, Bosch, Mahindra & Mahindra, Bajaj Auto and Exide Industries.

Selective FMCG stocks were trading lower led by Godrej Consumer, Britannia Industries, GSK Consumer, Godrej Industries and Marico.


From the IT space, the top losers were KPIT Tech which plunged 12 percent Mindtree, Tata Elxsi, TCS and Wipro.

The pharma sector was trading in the green with gains from Reddy's Labs which jumped over 3 percent after US FDA lifted warning letter for Duvvada Unit-VII. Also research firm Edelweiss has maintained a buy rating with target at Rs 3,450 per share.

The other gainers were Glenmark Pharma and Sun Pharma.

From the banking space, YES Bank was down 3 percent but was off the low point of the day after the Reserve Bank of India (RBI) has warned the private sector lender of regulatory action for disclosure of nil divergence report in violation of the confidentiality clause.

On the other hand, Punjab National Bank added 1 percent while Indian Bank, Union Bank of India and Syndicate Bank were the other gainers.

From the BSE midcap space, the top gainers were Reliance Power which spiked 10 percent followed by Reliance Infra, Reliance Capital and DHFL while the top losers were Divis Labs, Adani Power and Edelweiss Financial.

The top gainers from NSE included Dr Reddy's Labs, NTPC, Tech Mahindra, Vedanta and ONGC while the top losers included YES Bank, Coal India, Bajaj Auto, UltraTech Cement and Titan Company.

The most active stocks were YES Bank, Reliance Industries, TCS, Dr Reddy's Labs and Reliance Infra.

Aditya Birla Fashion and Retail and Tech Mahindra have hit new 52-week high in this morning session.

145 stocks have hit new 52-week low on the NSE including names like ABG Shipyard, Amtek Auto, Andhra Bank, Ashok Leyland, Firstsource Solutions, Global Offshore, Mahindra Lifespace, Mercator, MRF, Natco Pharma, Natco Pharma, Unitech and Vijaya Bank among others.

The breadth of the market favoured the declines with 633 stocks advancing and 876 declining while 538 remained unchanged. On the BSE, 572 stocks advanced, 873 declined and 70 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 Feb 18, 2019 09:45 am
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