D-Street Buzz: Metal stocks gain led by NALCO, JSPL; oil & gas stocks slip

Dalal Street is trading in the red with Sensex down 131.88 points or 0.32 percent at 41510.78 while the Nifty shed 33 points and is trading at 12229.80.

Nifty IT continues trading lower by half a percent dragged by HCL Tech, Tata Elxsi, Tata Consultancy Services, Tech Mahindra, Wipro and Infosys.

The Metal index is up half a percent led by Jindal Steel & Power, JSW Steel, Hindalco Industries, NALCO, Vedanta, NMDC and Coal India among others.

Shares of JSW Steel gained 1.6 percent intraday on December 24 after a media report indicated that the company is raising funds for acquisition of Bhushan Power.

From the auto space, the top losers are Bharat Forge, Ashok Leyland, Eicher Motors, Exide Industries, Motherson Sumi Systems and TVS Motor Company.

Reliance Industries, HPCL and BPCL, down 1 percent each are the top losers from the oil & gas space. Brent crude was up 12 cents, or 0.2 percent, at USD 66.51 a barrel by 0702 GMT.

Jet Airways jumped close to 5 percent after Committee of Creditors (CoC) passed the resolution to issue fresh invitation of expression of interest for the corporate debtor in the e-voting concluded on December 22, 2019.

The top gainers from the Nifty are YES Bank, Cipla, IndusInd Bank, ONGC and JSW Steel. The top losers include HCL Tech, BPCL, Eicher Motors, Reliance Industries and UPL.

The most active stocks are YES Bank, Reliance Industries, Indiabulls Housing Finance, State Bank of India and HDFC.

About 1058 shares have advanced, 1273 shares declined, and 146 shares are unchanged.

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