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D-Street Buzz: Metal stocks shine led by Vedanta, SAIL; Tata Global hits 52-week high, YES Bank drags

The most active stocks are Tata Global Beverage, Reliance Industries, YES Bank, Tata Steel and State Bank of India.
Jan 14, 2020 / 11:36 AM IST

The Indian stock market is trading flat with Sensex down 15.91 points or 0.04 percent at 41843.78 while the Nifty added 4.9 points at 12334.40.

Hopes of a rate cut in February faded after data showed a higher-than-expected surge in inflation.

Nifty Metal added over a percent ahead of the singing of the first phase of the US-China trade deal which is expected to be signed on January 15. The top gainers include Vedanta, SAIL, Tata Steel, NMDC, JSW Steel and Hindustan Zinc.

The Supreme Court allowed Vedanta to bid for alumina tender of National Aluminium Company, reports CNBC-TV18 quoting Bloomberg.

IT stocks are also trading in the green led by Mindtree, Tata Consultancy Services, NIIT Tech, Tata Elxsi and HCL Tech.

FPI turned buyers for the first time in nine months as the rupee weakened. They infused USD 687 million into IT stocks in December, the highest inflow into the sector in 21 months, according to data released by the National Securities Depository.

India VIX is down 1.54 and is trading at 14.06 level.

The top gainers from the Nifty are Vedanta, Britannia Industries, Zee Entertainment, Tata Steel and Tata Consultancy Services. The top losers include YES Bank, Larsen & Toubro, ONGC, Kotak Mahindra Bank and UPL.

The most active stocks are Tata Global Beverage, Reliance Industries, YES Bank, Tata Steel and State Bank of India.

53 stocks have hit new 52-week high on NSE including Tata Global Beverage, Birla Corp, Ipca Labs, Balkrishna Industries, Century Textiles, NIIT Tech and Tata Chemicals among others.

About 1235 shares have advanced, 770 shares declined, and 99 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: Jan 14, 2020 11:36 am

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