Moneycontrol
Last Updated : Mar 08, 2019 09:42 AM IST | Source: Moneycontrol.com

D-Street Buzz: Nifty IT in red dragged by Wipro; Bharti Airtel rises, Advanced Enzyme zooms 14%

The top gainers from NSE included NTPC, Bharti Airtel, Indiabulls Housing Finance, Mahindra & Mahindra and Bharti Infratel while the top losers included Wipro, Hinalco, HCL Tech, IOC and ONGC.

Sandip Das @Im_Sandip1

Following weak global cues, the Indian benchmark indices were trading in the red with Nifty50 down 24 points, trading at 11034 while the Sensex shed 48 points and was trading at 36,677 mark.

Nifty IT was down close to a percent despite the rupee trading weak against the US dollar. The losers were Wipro which was down 3 percent followed by HCL Tech, Infosys and Oracle Financial Services.

From the metal space, the top losers were Hindalco which was down close to 3 percent followed by Jindal Steel & Power, JSW Steel, MOIL, NMDC, Tata Steel and Vedanta.

From the banking space, the top losers were Axis bank, HDFC Bank, IndusInd Bank, Central Bank of India and Indian Bank.

However, Nifty Infra was up half a percent with gains from NTPC, NCC, NHPC, Bharti Airtel, Container Corp, Engineers India and GMR Infra.

From the BSE smallcap space, Advanced Enzyme zoomed 14 percent followed by Jai Corp, Reliance Industrial Infra, eClerx and UFO Moviez.

The top gainers from NSE included NTPC, Bharti Airtel, Indiabulls Housing Finance, Mahindra & Mahindra and Bharti Infratel while the top losers included Wipro, Hindalco, HCL Tech, IOC and ONGC.

The most active stocks were Reliance Industries, Wipro, Indiabulls Housing Finance, Axis Bank and Infosys.

Stocks to have hit new 52-week high on NSE included Refex Industries, The Anup Engineering, Bil Energy Systems and Cantabil Retail India.

The breadth of the market favoured the advances with 733 stocks advancing and 712 declining while 542 remained unchanged. On the BSE, 708 stocks advanced, 498 declined and 58 remained unchanged.

Technical Analyst Mitessh Thakkar of mitesshthakkar.com recommends selling Infosys with a stop loss of Rs 733 and target of Rs 705 while Prakash Gaba of prakashgaba.com recommends buying Mahindra & Mahindra with target at Rs 700 and stop loss at Rs 654.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
First Published on Mar 8, 2019 09:42 am
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