Moneycontrol
Last Updated : Aug 16, 2018 09:53 AM IST | Source: Moneycontrol.com

D-Street Buzz: Nifty metal underperforms dragged by Hindalco, JSPL; weak rupee keeps IT, pharma in green

The breadth of the market favoured declines, with 688 stocks advancing, 874 declining and 492 remaining unchanged. On BSE, 890 stocks advanced, 868 declined and 77 remained unchanged.

Sandip Das @Im_Sandip1
 
 
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The Indian benchmark indices this Thursday morning are trading in the red taking cues from its global peers with the Nifty down 30 points at 11, 404 while the Sensex shed 135 points and is trading at 37,716.

The metal index is the biggest drag, down 2 percent with losses from Hindustan Zinc, Hindalco Industries, Jindal Steel & Power and JSW Steel which are down 2-3 percent. Vedanta is also trading lower by 4 percent.

From the banking space, Kotak Mahindra Bank is down 2 percent followed by YES Bank, IDFC Bank and ICICI Bank.

With the rupee hitting an all-time low of 70.25 amid Turkey crisis, IT and pharma stocks are positively impacted with gains from HCL Tech, Mindtree, KPIT Tech and Infosys. The top pharma gainers include names like Cipla, Piramal Enterprises and Sun Pharmaceutical Industries.

GAIL India, Cipla, Bajaj Finance, UPL and HCL Tech are the top gainers on the Nifty.

The most active stocks include Sun Pharma, HDFC, Bajaj Finance, Kotak Mahindra Bank and HCL Tech.

The top losers include Vedanta, Kotak Mahindra Bank, Hindalco Industries, UltraTech Cement and YES Bank.

From the BSE smallcap space, WPIL zoomed 18 percent followed by Patel Engineering, Tamil Nadu Newsprint and Ducon Infratech. On the other hand, the top losers is Intrasoft Tech which plunged 20 percent.

The top BSE gainers are TNPL which zoomed 8 percent while Vakrangee, Gujarat Fluorochemicals, Texmaco Rail and Kwality.

The top losers include names like Reliance Naval, Vedanta, Hindustan Zinc, NLC India and Tata Steel.

Bajaj Finserv, Bajaj Finance, Exide Industries, NIIT Tech, Sun Pharma and United Breweries are some of the stocks which have hit new 52-week high in the morning trade on NSE.

On the other hand, 28 stocks have hit fresh 52-week low which are eClerx Services, Lanco Infra, SREI Infra, Tata Motors and Videocon Industries.

The breadth of the market favoured declines, with 688 stocks advancing, 874 declining and 492 remaining unchanged. On BSE, 890 stocks advanced, 868 declined and 77 remained unchanged.
First Published on Aug 16, 2018 09:53 am
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