D-Street Buzz: Media stocks gain led DEN Networks; GAIL India, HPCL shed 3%, YES Bank most active

The Indian stock market continues to stay weak in this afternoon session with the Nifty50 down 12 points, trading at 10,460 while the Sensex shed 29 points at 34,704.

Nifty IT is outperforming, up over 1 percent led by KPIT Tech, Mindtree, Tata Elxsi, Tata Consultancy Services and Infosys.

Pharma stocks are also buzzing, with the index up close to 2 percent led by Cadila Healthcare, Dr Reddy's Labs, Lupin, GSK Pharma and Sun Pharma.

From the media space, DEN Networks zoomed over 15 percent followed by Hathway Cable, INOX Leisure, Network18, TV18 Broadcast and Zee Entertainment.

Selective midcap stocks are up led by Cholamandalam Investment, Exide Industries, NBCC, Power Finance Corporation, Rural Electrification Corporation and Tata Power among others.

From the oil & gas space, GAIL India and HPCL are down 3 percent each while heavyweight Reliance Industries has gained half a percent.

From the BSE midcap space, ICICI Securities jumped 10 percent followed by Natco Pharma, Mphasis and Central Bank of India.

From the BSE smallcap space, the top gainers include sugar stocks like Uttam Sugar, Dalmia Bharat Sugar and Dwarikesh Sugar followed by CMI, DEN Networks and GTPL.

The top gainers from NSE include Dr Reddy's Labs, Indiabulls Housing Finance, Cipla, Infosys and ITC.

The top losers include HPCL, GAIL India, Hindustan Unilever, Mahindra & Mahindra and IndusInd Bank.

The most active stocks are YES Bank, Reliance Industries, Hindustan Unilever, Dewan Housing Finance and ICICI Bank.

57 stocks have hit new 52-week low including names like Kwality, Pincon Spirit, JP Power, Videocon Industries and The South Indian Bank among others.

The breadth of the market favoured advances, with 1096 stocks advancing, 598 declining and 375 remaining unchanged. On BSE, 1421 stocks advanced, 927 declined and 148 remained unchanged.

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

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