Moneycontrol
Last Updated : Jan 18, 2019 10:24 AM IST | Source: Moneycontrol.com

D-Street Buzz: Sun Pharma plunges 10%, hits new 52-week low; oil & gas stocks gain led by RIL

The breadth of the market favoured the declines with 574 stocks advancing and 977 declining while 498 remained unchanged. On the BSE, 703 stocks advanced, 1034 declined and 100 remained unchanged.

Sandip Das @Im_Sandip1

The Indian benchmark indices were trading on a negative note in this Friday morning session with the Nifty50 down 21 points, trading at 10,883 while the Sensex shed 89 points and was trading at 36,284.

Nifty Pharma underperformed, down 3 percent dragged by Sun Pharma which was trading lower by 10 percent over buzz of fresh whistleblower complaint.

According to Moneylife magazine, between 2014 and 2017, Aditya Medisales (AML) has had over Rs 5,800 crore of transactions with Suraksha Realty, controlled by Sun Pharma’s co-promoter, Sudhir Valia.

The other pharma losers were Cadila Healthcare, Piramal Enterprises and Glenmark Pharma.

Media stocks were also weak with loses from Dish TV, TV18 Broadcast, Network18 and Sun TV Network.

From the FMCG space, the top losers were Emami, United Spirits and Tata Global Beverage.

Nifty Energy was trading in the green led by ONGC, Reliance Industries and Power Grid.

The top gainers from NSE included ONGC, Vedanta, Power Grid, JSW Steel and Reliance Industries while the top losers included Sun Pharma, Bharti Airtel, GAIL India, YES Bank and UltraTech Cement.
 The most active stocks were Sun Pharma, Reliance Industries, Jet Airways, YES Bank and Hindustan Unilever.

Next Mediaworks and The Western India Plywoods have hit new 52-week high in this morning session.

32 stocks have hit new 52-week low including names like Ashok Leyland, Gemini Communication, Jamna Auto Industries, Nilkamal, Ramco Systems, Sun Pharma Advanced Research Company, Sun Pharmaceutical Industries and Wheels India among others.

The breadth of the market favoured the declines with 574 stocks advancing and 977 declining while 498 remained unchanged. On the BSE, 703 stocks advanced, 1034 declined and 100 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 Jan 18, 2019 10:24 am
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