D-Street Buzz: Nifty Metal down 2% with JSPL at new 52-week low; Tech Mahindra gains 2%, midcaps drag

Ahead of the RBI policy outcome, the Indian stock market continues to trade in the red with the Nifty50 is down 64 points, trading at 10,805 while the Sensex shed 178 points and is trading at 35,955.

Nifty Metal is down over 2.5 percent dragged by JSPL, JSW Steel, Hindalco Industries, SAIL, Tata Steel, NMDC, Coal India and Hindustan Copper.

Midcap stocks are also down with loses from DHFL, Castrol India, Cholamandalam Investment, Dish TV, GMR Infra, IDFC Bank, M&M Financial, PFC, Reliance Infra and United Breweries among others.

Nifty IT manages to stay in the green aided by Infibeam Avenue, KPIT Tech, Tata Elxsi, Tech Mahindra and Wipro.

From the BSE midcap space, the top gainers are Edelweiss Financial Services, Adani Transmission and Crompton Greaves Consumer while the top losers are Bharat Forge, Reliance Infra and Jindal Steel & Power.

The top smallcap gainers are Capital Trust, Trigyn Tech and DFM Foods while the top losers included Bharat Road Network, Kesoram Industries and Prakash Industries.

The top gainers from NSE include Tech Mahindra, HCL Tech, Bharti Infratel, Hindustan Unilever and Wipro.

The top losers included Hindalco Industries, Grasim Industries, Tata Motors, Tata Steel and JSW Steel.

The most active stocks were YES Bank, Sun Pharma, Reliance Industries, Bharat Forge and HDFC.

78 stocks have hit new 52-week low including names like ABG Shipyard, JSPL, Dish TV, Deepak Fertilizers, IL&FS Engineering and Construction, IL&FS Transportation Networks, Kirloskar Brothers, Punj Lloyd, Sun Pharma Advanced Research Company and UFO Moviez among others.

The breadth of the market favoured the declines with 466 stocks advancing and 1175 declining while 419 remained unchanged. On the BSE, 718 stocks advanced, 1577 declined and 132 remained unchanged.

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

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