D-Street Buzz: Nifty IT outperforms led by Tech Mahindra; Wockhardt jumps 7%, PSU banks drag

The Indian benchmark indices have shed some of the morning gains with the Nifty50 up 16 points, trading at 10,601 while the Sensex gained 63 points at 35,222.

Nifty IT is the outperforming sector, up over 1 percent led by HCL Tech, Infosys and Tech Mahindra which are up 2 percent each.

Selective pharma names are also up with gains from Cipla, Lupin and Cadila Healthcare.

PSU banks are trading weak dragged by OBC, Bank of India, Indian Bank, PNB, SBI and Union Bank of India.

Auto stocks are also down with loses from Tata Motors, Eicher Motors, Hero MotoCorp and Maruti Suzuki.

The top BSE midcap gainers included Wockhardt which jumped 7 percent followed by Cummins India and PNB Housing Finance while the top losers were Edelweiss Financial, Oberoi Realty and Union Bank.

The top smallcap gainers were Pokrana, BGR Energy and SMS Pharma. The top losers were VST Tillers and Avanti Feeds.

The top gainers from NSE include Tech Mahindra, HCL Tech, Titan Company, Infosys and Cipla.

The top losers included HPCL, Tata Motors, YES Bank, Bharti Infratel and Grasim Industries.

The most active stocks are Titan Company, YES Bank, PC Jeweller, SBI and Wockhardt.

Usha Martin and Alkyl Amines Chemicals are some of the few stocks which hit new 52-week high on the NSE.

18 stocks have hit new 52-week low including names like Amtek Auto, Empee Distilleries and V.S.T Tillers Tractors among others.

The breadth of the market favoured the declines with 750 stocks advancing and 865 declining while 446 remained unchanged. On the BSE, 981 stocks advanced, 1010 declined and 114 remained unchanged.

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

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