Moneycontrol
Last Updated : Oct 11, 2018 11:09 AM IST | Source: Moneycontrol.com

D-Street Buzz: Nifty PSU bank underperforms dragged by SBI; Infosys sheds 3%, oil & gas stocks gain

The breadth of the market favoured declines, with 310 stocks advancing, 1341 declining and 398 remaining unchanged. On BSE, 471 stocks advanced, 1652 declined and 91 remained unchanged.

Sandip Das @Im_Sandip1

The nightmare continues on Dalal Street but the market has become stable yet critical as the Indian stock market is witnessing unprecedented fall on the back of weak global cues and the rupee hitting new record low against the dollar.

The Nifty50 has plunged 256 points, trading at 10,203 while the Sensex has crashed over 812 points at 33,948.

Nifty PSU bank is the biggest underperformer, down over 4 percent dragged by State Bank of India, Indian Bank, Punjab National Bank, Syndicate Bank, Union Bank of India, Central Bank of India and Bank of Baroda.

Nifty realty shed over 3 percent led by Prestige Estates, Unitech, Godrej Properties, Brigade Enterprises, DLF and Oberoi Realty.

From the private banking space, IndusInd Bank, Kotak Mahindra Bank, Axis Bank, HDFC Bank, ICICI Bank and RBL Bank are the top losers.

From the oil & gas space, Reliance Industries is down 2.5 percent, however, HPCL, BPCL and GAIL India and ONGC are trading in the green.

IT stocks are also in the red despite rupee at record lows dragged by TCS, Infibeam, Tata Elxsi, Infosys, KPIT Tech, Wipro, Mindtree and HCL Tech.

Nifty metal has also shed over 3 percent with loses from JSPL, Hindalco Industries, Tata Steel, JSW Steel and SAIL among others.

Also ReadWorried about carnage on D-Street? Here are 10 biggest single day crashes in Sensex's history

From the BSE midcap space, Emami, MRPL and Edelweiss Financial have added 2-3 percent while JSPL, Bharat Forge, Shriram Transport and Cholamandalam Investment are the top losers.

From the BSE smallcap space, the gainers include Goa Carbon which spiked 11 percent followed by HEG, Mercator and Shakti Pumps.

The top losers include Capital Trust, Intrasoft Tech and IFB Agro among others.

The top NSE gainers include only HPCL, BPCL, Zee Entertainment, Bharti Infratel and IOC.

The top NSE losers are Indiabulls Housing Finance, Tata Steel, SBI, HCL Tech and Bajaj Finserv.

The most active stocks are Reliance Industries, DHFL, Bajaj Finance, YES Bank and Indiabulls Housing Finance.

222 stocks have hit new 52-week low including names like 8K Miles Software, Andhra Bank, Bank of Baroda, Bharti Airtel, Bombay Dyeing, Castrol, CG Power, GIC Housing Finance, Hindustan Aeronautics, HUDCO, Jubilant Life Sciences, KEC International, Marico, Motherson Sumi Systems, PNB Housing Finance, NBCC, Sun Pharma Advanced Research, Sobha, Titagarh Wagons and Unitech among others.

The breadth of the market favoured declines, with 310 stocks advancing, 1341 declining and 398 remaining unchanged. On BSE, 471 stocks advanced, 1652 declined and 91 remained unchanged.

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

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First Published on Oct 11, 2018 11:07 am
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