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D-street Buzz: Nifty Midcap down 1% as 250 stocks hit new 52-week low; PSU banks drag

250 stocks have hit fresh 52-week low including Aban Offshore, Raj Rayon, Nakoda, Madhya Pradesh Today Media, Cupid, Cosmo Films, HT Media, Kwality and Manpasand Beverage among others.

July 19, 2018 / 10:09 AM IST

The Indian benchmark indices including the Sensex are trading mixed this Thursday morning with the Sensex trading higher by 12 points at 36,386 while the Nifty is trading lower by 20 points at 10,960.

The midcap index is down 1.5 percent dragged by Ashok Leyland, Biocon, JP Associates, Jain Irrigation Systems, India Cements, Oracle Financial Services and Tata Global Beverage among others.

United Breweries from the BSE midcap space is down 6 percent while Vakrangee and Jindal Steel & Power are lower by 4 percent each.

Selective smallcap stocks are trading in the red with CUPID down 16 percent while Uniply Industries and Cosmo Films are lower by 11-12 percent.

Nifty metal is down 1 percent as stocks like Jindal Steel & Power, NALCO, Tata Steel and Welspun Corp shed up to 4 percent in the morning trade.

Close

The PSU bank index is also trading weak dragged by stocks like Union Bank of India, Bank of Baroda, Punjab National Bank, Allahabad Bank, Andhra Bank, Oriental Bank of Commerce and State Bank of India.

Oil & gas stocks are mixed with ONGC jumping 2 percent while on the other hand, BPCL, HPCL and Indian Oil Corporation are down 2-3 percent.

Bharti Infratel is down over 4 percent while IRB Infra and Reliance Communications from the infra space are trading in the red.

The top gainers among Nifty constituents are ONGC, Bharti Airtel, Mahindra & Mahindra, Hindustan Unilever and Titan Company.

The most actively traded stocks on the NSE are Ashok Leyland which is down 2.5 percent while Mindtree plunged 7 percent. Tata Steel, Reliance Industries and Jindal Steel & Power are the other active stocks.

The top losers included names like HPCL, Hindalco Industries, UPL, BPCL and IOC which are down 2-3 percent.

Some of the top BSE gainers include names like JK Tyre and Industries which is up 2 percent followed by Havells India, Sobha, ONGC and Bharti Airtel.

Asian Paints is one of the very few stocks that hit fresh 52-week high in the morning trade.

On the other hand, 250 stocks have hit fresh 52-week low including Aban Offshore, Raj Rayon, Nakoda, Madhya Pradesh Today Media, Cupid, Cosmo Films, HT Media, Kwality and Manpasand Beverage among others.

The breadth of the market favoured declines, with 334 stocks advancing, 1252 declining and 461 remaining unchanged. On BSE, 478 stocks advanced, 1261 declined and 53 remained unchanged.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
Sandip Das
first published: Jul 19, 2018 10:09 am

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