D-Street Buzz: Nifty IT underperforms dragged by Infosys; metals shine led by JSPL, stock spikes 9%

Markets - Image: Reuters

The Indian benchmark indices have been trading in the negative territory in this Tuesday afternoon session with the Nifty50 trading lower by 4 points, at 10,884 while the Sensex fell 30 points and was trading at 36,365 mark.

Nifty IT was underperforming, down 1 percent dragged by HCL Tech, Infosys, Mindtree, Tata Elxsi, Tata Consultancy Services and Tech Mahindra.

From the real estate space, the top losers were Phoenix Mills, Godrej Properties, Sobha and Unitech. The top gainers were Indiabulls Real Estate, Oberoi Realty and Sunteck Realty.

Nifty Metal was the outperforming sector, up over 2 percent led by Jindal Steel & Power which jumped 9 percent followed by Hindustan Copper, JSW Steel, SAIL, Tata Steel and Vedanta.

From the oil & gas space, the top gainers were BPCL, HPCL and Reliance Industries.

The top gainers from NSE included JSW Steel, Vedanta, Tata Steel, NTPC and BPCL while the top losers included Bharti Infratel, Infosys, HCL Tech, Hero MotoCorp and Bajaj Finance.

The most active stocks were Axis Bank, Tata Steel, Indiabulls Housing Finance, Reliance Industries and Apollo Hospitals.

Aavas Financiers and Xelpmoc Design And Tech have hit new 52-week high in this afternoon session.

240 stocks have hit new 52-week low on the NSE including names like Aban Offshore, Andhra Bank, GMDC, IL&FS Transportation Networks, India Cements, Indian Bank, Jain Irrigation Systems, Kwality, Mahindra Logistics, Mangalore Chemicals & Fertilizers, Motherson Sumi Systems, Patel Engineering, Punj Lloyd, Rashtriya Chemicals and Fertilizers, Sakthi Sugars, Tata Chemicals, Tata Coffee and Unitech among others.

The breadth of the market favoured the declines with 750 stocks advancing and 905 declining while 408 remained unchanged. On the BSE, 989 stocks advanced, 1231 declined and 143 remained unchanged.

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

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