D-Street Buzz: Over 100 stocks hit 52-week low on NSE; realty, pharma stocks gain, M&M skids

The Indian stock market is still trading in the red but has come of the low point of the day in this afternoon session with the Nifty50 down 44 points, trading at 10,917 while the Sensex fell 144 points and was trading at 36,434.

At 14:18 hrs, Nifty Metal continued to underperform, down 2 percent dragged by JSPL and JSW Steel which dipped 4 percent each followed by Tata Steel which shed 3 percent. The other losers were SAIL, Vedanta, Hindalco Industries, Hindustan Copper and Hindustan Zinc.

Realty stocks were trading in the green led by Prestige Estates, Phoenix Mills, DLF and Oberoi Realty.

Nifty Pharma was up over 1.5 percent led by gains from Sun Pharma which jumped 5 percent followed by Piramal Enterprises, Glenmark Pharma, Dr Reddy's Labs and Aurobindo Pharma.

The top gainers from NSE included Sun Pharma, Kotak Mahindra Bank, GAIL India, Titan Company and Dr Reddy's Labs while the top losers included M&M, Zee Entertainment, Vedanta, Tata Steel and HCL Tech.

130 stocks have hit new 52-week low including names like Arrow Textiles, Ashok Leyland, Coal India, Dena Bank, Cipla, JSPL, SAIL, Finolex Cables, Gateway Distriparks, IL&FS Transportation Networks, Mcleod Russel, Tata Steel and Unitech among others.

The breadth of the market favoured the declines with 483 stocks advancing and 1189 declining while 384 remained unchanged. On the BSE, 804 stocks advanced, 1615 declined and 163 remained unchanged.

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

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