D-Street Buzz: JSPL, SAIL fall 3-4% as metals lose shine; RCom tanks 10%, Kotak Mahindra Bank slips 3%

The Indian benchmark indices this Thursday afternoon have again slipped and are trading in the red with the Nifty down 46 points at 11, 388 while the Sensex shed 149 points and is trading at 37,703.

The metal index is down 2 percent dragged by Hindustan Zinc, Hindalco Industries, Jindal Steel & Power, NALCO, SAIL, Tata Steel and JSW Steel.

Nifty media is also trading lower by 1 percent with loses from Hathway Cable, DEN Networks, EROS International, INOX Leisure, PVR, Network18, TV18 Broadcast and Zee Entertainment Enterprises.

Nifty PSU bank is down close to 1 percent led by Andhra Bank, Bank of Baroda, Bank of India, Syndicate Bank and Union Bank of India.

GAIL India, Dr Reddy's Labs, Sun Pharma, Infosys and Grasim Industries are the top gainers on the Nifty.

The most active stocks include Sun Pharma, ICICI Bank, Axis Bank, SBI and Reliance Industries.

The top losers include Vedanta, Kotak Mahindra Bank, Zee Entertainment, Indiabulls Housing Finance and HDFC.

The top BSE gainers are HDIL, Sonata Software, Tamil Nadu Newsprint, Maxx India and Vakrangee.

The top losers include names like Reliance Communications, Jain Irrigation, Tata Steel, Reliance Naval and SREI Infra.

Axis Bank, Bajaj Finserv, Bajaj Finance, Bata India, Dabur India, Havells India, Infosys, Jubilant Foodworks, Sun Pharma, GAIL India and United Breweries are some of the stocks which have hit new 52-week high in the afternoon trade on NSE.

On the other hand, 61 stocks have hit fresh 52-week low which are eClerx Services, Lanco Infra, SREI Infra, Tata Motors and Videocon Industries.

The breadth of the market favoured declines, with 683 stocks advancing, 1047 declining and 341 remaining unchanged. On BSE, 1117 stocks advanced, 1546 declined and 142 remained unchanged.

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