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D-Street Buzz: Metal stocks shine led by JSPL, Vedanta; Mahindra CIE up 7%, PSU banks drag

About 1218 shares have advanced, 894 shares declined, and 133 shares are unchanged.

December 26, 2019 / 12:33 PM IST

The Indian stock market is trading at the low point of the day on December 26 with Sensex down 100.70 points or 0.24 percent at 41360.56, and the Nifty shed 28 points and is trading at 12186.50.

Nifty Metal is the outperforming sector, up over a percent amid optimism in US-China trade deal.

US President Donald Trump said on Tuesday he and Chinese President Xi Jinping will have a signing ceremony to sign the first phase of the US-China trade deal agreed to this month.

The top gainers include SAIL, Jindal Steel & Power, JSW Steel, Tata Steel, Vedanta, NMDC and Hindustan Zinc.

However, the energy index shed half a percent after rise in global oil prices. The top drags include Indian Oil Corporation, Reliance Industries, HPCL, GAIL India and ONGC.

Close

Brent crude was up 16 cents, or 0.2 percent, at USD 67.36 a barrel by 0155 GMT. West Texas Intermediate was up 20 cents, or 0.3 percent, at USD 61.31 a barrel.

Banks are under pressure with PSU banks trading in the red. Union Bank slipped over 3 percent followed by Canara Bank, Central Bank of India, State Bank of India and Syndicate Bank. IndusInd Bank, YES Bank, Kotak Mahindra Bank and IDFC First Bank are the other losers.

The top gainers from the Nifty are Vedanta, JSW Steel, Tata Steel, Mahindra & Mahindra and Eicher Motors. The top losers include Indian Oil Corporation, YES Bank, Coal India, Bharti Airtel and Larsen & Toubro.

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

About 1218 shares have advanced, 894 shares declined, and 133 shares are unchanged.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
Sandip Das
first published: Dec 26, 2019 12:33 pm

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