D-Street Buzz: Nifty Pharma in green led by Sun Pharma; YES Bank jumps 3%, autos drag

The Indian stock market has slipped into the red in this Wednesday afternoon session with the Nifty50 down 17 points, trading at 10,905 while the Sensex shed 85 points and was trading at 36,358.

At 14:30 hrs, Nifty PSU Bank shed half a percent dragged by Syndicate Bank, Vijaya Bank, Bank of Baroda, State Bank of India, PNB and Canara Bank.

Auto stocks were also weak with loses from TVS Motor which shed 4 percent followed by Mahindra & Mahindra, Hero MotoCorp, Exide Industries, Bajaj Auto and Maruti Suzuki.

Media stocks continued to buzz led by Zee Entertainment, TV18 Broadcast Hathway Cable, Network18, Sun TV Network and EROS International Media.

The top gainers from NSE included YES Bank, Zee Entertainment, Sun Pharma, Wipro and Tata Steel while the top losers included Grasim Industries, Indiabulls Housing Finance, Infosys, NTPC and Mahindra & Mahindra.

The most active stocks were Sun Pharma, Reliance Industries, ICICI Prudential, Yes Bank and Mindtree.

Reliance ETF Gold BeES, Kilitch Drugs, Odisha Cement, Dhunseri Ventures and Wipro have hit new 52-week high in this afternoon session.

108 stocks have hit new 52-week low on the NSE including names like ANG Industries, Castex Technologies, Dilip Buildcon, Deepak Fertilizers and Petrochemicals, IL&FS Transportation Networks, Dena Bank, Manali Petrochemicals, Mcleod Russel, Mercator, Narayana Hrudayalaya, Orchid Pharma, Rolta India, Unitech, Ujaas Energy and Wanbury among others.

The breadth of the market favoured the declines with 790 stocks advancing and 871 declining while 397 remained unchanged. On the BSE, 1128 stocks advanced, 1311 declined and 131 remained unchanged.

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

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