D-Street Buzz: Nifty IT underperforms dragged by Infosys; YES Bank falls 6%, Vedanta hits new 52-week low

A fresh start to the week as the Indian stock market has opened in the green but has turned flat with the Nifty50 adding 6 points, trading at 10,533 while the Sensex is up 16 points at 34,997.

Nifty Energy is up close to a percent with gains from BPCL, HPCL, Indian Oil Corporation and Reliance Industries.

Selective auto stocks are also buzzing led by Eicher Motors, Maruti Suzuki and Hero Moto Corp.

Bank Nifty has added half a percent led by Axis Bank, HDFC Bank, ICICI Bank, IndusInd Bank, RBL Bank and State Bank of India. However, YES Bank is down 4 percent in this morning trade.

Nifty IT is down close to a percent dragged by Infosys which shed 2 percent followed by Tata Elxsi, Mindtree, Oracle Financial Services, Tech Mahindra and Wipro.

From the BSE midcap space, the top gainers included Adani Power, Kansai Nerolac, IGL and Whirlpool while the top losers are Jindal Steel & Power, GSK Pharma and Dewan Housing Finance.

From the BSE smallcap space, the top gainers included Hotel Leela, Indico Remedies, Jayant Agro while the top losers are Adhunik Industries, Godawari Power and Ashapura Intimates.

The top gainers from NSE include BPCL, Bharti Infratel, HPCL, Bharti Airtel and IOC.

The top losers included YES Bank, Adani Ports, Infosys, Tech Mahindra and Kotak Mahindra Bank.

The most active stocks were YES Bank, HDFC Bank, Infosys, Reliance Industries and TCS.

Electrosteel Steels and Vindhya Telelinks are some of the few stocks which hit new 52-week high on the NSE.

33 stocks have hit new 52-week low including names like ABG Shipyard, Amtek Auto, Coal India, Hexaware Technologies, IL&FS Investment Managers, NTPC, Prabhat Dairy, SAIL and Vedanta among others.

The breadth of the market favoured the advances with 793 stocks advancing and 735 declining while 507 remained unchanged. On the BSE, 785 stocks advanced, 651 declined and 95 remained unchanged.

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

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