Last Updated : Jan 18, 2019 12:27 PM IST | Source:

D-Street Buzz: Nifty Infra in red dragged by Bharti Airtel; RIL extends gains, Sun TV at new 52-week low

The breadth of the market favoured the declines with 538 stocks advancing and 1083 declining while 434 remained unchanged. On the BSE, 839 stocks advanced, 1376 declined and 141 remained unchanged.

Sandip Das @Im_Sandip1

The Indian stock market continued to trade in the red in this Friday afternoon session with the Nifty50 down 29 points, trading at 10,875 while the Sensex shed 100 points and was trading at 36,282.

Nifty Pharma continued to underperform, down close to 3 percent weighed down by Sun Pharma which was trading lower by 10 percent over buzz of fresh whistleblower complaint.

According to Moneylife magazine, between 2014 and 2017, Aditya Medisales (AML) has had over Rs 5,800 crore of transactions with Suraksha Realty, controlled by Sun Pharma’s co-promoter, Sudhir Valia.

The other pharma losers were Cadila Healthcare, Piramal Enterprises, Glenmark Pharma and Dr Reddy's Labs.

From the infra space, the top losers were Bharti Airtel which fell 5 percent followed by Vodafone Idea, IRB Infra, NCC, Reliance Communications and NCC

Media stocks were also weak with loses from Dish TV, INOX Leisure, EROS International, TV18 Broadcast, Network18 and Sun TV Network.

However, Nifty Energy was trading in the green led by Reliance Industries ONGC, Reliance Infra and Power Grid.

The top gainers from NSE included Wipro, Reliance Industries, Kotak Mahindra Bank, ONGC and HCL Tech while the top losers included Sun Pharma, Bharti Airtel, GAIL India, Axis Bank and HPCL.
 The most active stocks were Sun Pharma, Reliance Industries, Jet Airways, YES Bank and Hindustan Unilever.

IOL Chemicals and Pharmaceuticals, Next Mediaworks and The Western India Plywoods have hit new 52-week high in this afternoon session.

48 stocks have hit new 52-week low including names like Arrow Textiles, Ashok Leyland, Gemini Communication, Jamna Auto Industries, Nilkamal, Ramco Systems, Sun Pharma Advanced Research Company, Sun Pharmaceutical Industries, Sun TV and Wheels India among others.

The breadth of the market favoured the declines with 538 stocks advancing and 1083 declining while 434 remained unchanged. On the BSE, 839 stocks advanced, 1376 declined and 141 remained unchanged.

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

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First Published on Jan 18, 2019 12:27 pm
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