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D-Street Buzz: Nifty Metal underperforms dragged by Tata Steel, JSPL; Tata Motors falls 3%

The breadth of the market favoured the declines with 714 stocks advancing and 964 declining while 395 remained unchanged. On the BSE, 1050 stocks advanced, 1288 declined and 132 remained unchanged.

March 08, 2019 / 12:59 PM IST

The Indian stock market continues to trade in the red in this Friday afternoon session with Nifty50 down 22 points, trading at 11036 while the Sensex shed 44 points and was trading at 36,680 mark.

Nifty Metal was underperforming all other sectors dragged by Hindalco Industries, Tata Steel and Jindal Steel & Power which shed over 2 percent each followed by MOIL, JSW Steel, Vedanta and Coal India.

From the Nifty midcap space, the top losers were Dish TV, Glenmark Pharma, Ajanta Pharma, M&M Financial, MRPL, Power Finance Corporation, NBCC, Rural Electrification Corporation and Tata Global Beverage.

Selective auto stocks were trading in the negative territory with loses from Tata Motors and Tata Motors DVR which were down over 3 percent each followed by Hero MotoCorp, Bharat Forge and Ashok Leyland.

Indian Oil Corporation, ONGC and Reliance Industries from the oil & gas space were trading in the red.


From the BSE midcap space, the top gainers were Reliance Nippon Life Asset Management which jumped 6 percent followed by Reliance Capital, RBL Bank, 3M India and ICICI Securities while on the other hand, the top losers were NBCC, Sun TV, Ajanta Pharma and SAIL.

From the BSE smallcap space, Future Market Networks zoomed 16 percent followed by Advanced Enzyme, Jai Corp, Federal Mogul and Reliance Industrial Infra. The top losers were Arihant Superstructures, Hotel Leela, JP Power and A2Z Infra.

The top gainers from NSE included NTPC, Eicher Motors, Titan Company, Bajaj Auto and GAIL India while the top losers included Wipro, Tata Motors, IOC, Hindalco and Tata Steel.

The most active stocks were Reliance Industries, Wipro, Indiabulls Housing Finance, Axis Bank and Larsen & Toubro.

Stocks to have hit new 52-week high on NSE included Allahabad Bank, HeidelbergCement India, IPCA Laboratories, Muthoot Finance, Refex Industries, The Anup Engineering, Bil Energy Systems and Cantabil Retail India.

The breadth of the market favoured the declines with 714 stocks advancing and 964 declining while 395 remained unchanged. On the BSE, 1050 stocks advanced, 1288 declined and 132 remained unchanged.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
Sandip Das
first published: Mar 8, 2019 12:59 pm

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