D-Street Buzz: Nifty Infra in red dragged by Bharti Airtel; Axis Bank down 2%, HDFC most active

Indian benchmark indices are trading on a negative note with Sensex down 233 points at 36,889 mark while the Nifty is trading below the 11,000 mark shedding 70 points and is trading at 10,933 level.

Nifty Infra along with the media sector is down 1 percent each. The top losers from the infra space are Bharti Airtel which shed 2 percent. However, CLSA has retained a buy rating on the stock and has raised target to Rs 415 from Rs 390 share.

The other losers include Larsen & Toubro, Bharti Infratel, Container Corp, NCC and Vodafone Idea.

Tata Communications crashed over 34 percent after it adjusted for land bank which demerged into a separate company. The company said Hemisphere Properties India informed that Ministry of Corporate Affairs has approved the Scheme on August 5 and it has filed the order with the Registrar of Companies on September 17.

From the media space, the top losers include Den Networks, Dish TV, Hathway Cable, Jagran Prakashan, Inox Leisure, Zee Entertainment and Zee Media.

Bank Nifty shed half a percent dragged by Axis Bank, IDFC First Bank, State Bank of India, HDFC Bank, ICICI Bank and Bank of Baroda.

Nifty Service Sector shed close to a percent, the top losers being Container Corp, HCL Tech, HDFC, IDFC, REC and Tech Mahindra among others.

Nifty FMCG added half a percent led by Godrej Consumer which jumped over 3 percent following an overweight stance by Morgan Stanley. The other gainers include Emami, Hindustan Unilever and Tata Global Beverage.

India VIX jumped 4.01 percent and is trading at 15.55.

The top Nifty50 gainers include Titan Company, YES Bank, Vedanta, Hindustan Unilever and Asian Paints while the top losers are Axis Bank, Bharti Airtel, Tech Mahindra, BPCL and UltraTech Cement.

The most active stocks were HDFC, YES Bank, Axis Bank, Indiabulls Housing Finance and ICICI Bank.

Among the Nifty50 names, 11 stocks advanced while 39 declined.

Vinati Organics, CESC, Galaxy Surfactants and IndiaMART InterMESH  hit new 52- week high on the NSE.

69 stocks hit new 52- week low on BSE including Tata Communications, Kwality, Eveready Industries and Manpasand Beverages among others.