D-Street Buzz: Midcaps drag with Havells, Jubilant Food down 3-5%; L&T Infotech jumps 7%, IT stocks rally

Sensex_Nifty

The market sentiment turned positive this Tuesday afternoon with the Nifty50 trading at 11,578 while the Sensex is trading higher by 57 points at 38,369.

Nifty FMCG is the biggest underperformer, down close to 2 percent dragged by Jubilant Foodworks, Hindustan Unilever, ITC, Godrej Consumer, Emami, Dabur India, United Breweries and Britannia Industries.

The Nifty midcap index is down over a percent dragged by Syndicate Bank, GMR Infra, Havells India, IFCI, India Cements, Jubilant Foodworks, Reliance Capital, Reliance Infra and Tata Chemicals among others.

PSU bank index is trading lower by close to 1 percent with loses from Andhra Bank, Canara Bank, Syndicate Bank, OBC, PNB and Union Bank of India among others.

However, IT stocks are up backed by a weak rupee, led by Infosys, Mindtree, Tech Mahindra, TCS, Wipro and HCL Tech among others.

Infosys, Tech Mahindra, HCL Tech, Tata Consultancy Services and Wipro are the top gainers on the Nifty.

The most active stocks include L&T Infotech which jumped 7 percent followed by Reliance Industries, Infosys, State Bank of India and TCS..

The top losers include Hindustan Unilever, UPL, Asian Paints, IndusInd Bank and Indiabulls Housing Finance.

The top BSE gainers are Greaves Cotton, L&T Infotech, Navin Fluorine, Sadbhav Engineering and Kwality.

The top BSE losers include Balkrishna Industries, Network18, Jubilant Foodworks, Magma FinCorp and Motherson Sumi Systems.

From the BSE smallcap space, JP Power is down 8 percent while Hathway Cable zoomed 15 percent followed by Mawana Sugars.

Albert David, Greaves Cotton, Infosys, V-Mart Retail and Info Edge are some of the stocks which hit new 52-week high this Tuesday afternoon.

On the other hand, 43 stocks have hit new 52-week low including eClerx Services, BGR Energy, Tata Communications, IRB Infra, The South Indian Bank and Unitech.

The breadth of the market favoured declines, with 588 stocks advancing, 1093 declining and 387 remaining unchanged. On BSE, 954 stocks advanced, 1554 declined and 124 remained unchanged.

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