323 stocks on the BSE have hit fresh 52-week low including names like NBCC, Punj Lloyd, Indocount Industries, Jain Irrigation, Syndicate Bank, SREI Infra and JM Financial among others.
The Nifty and the Sensex slipped into the red this Wednesday afternoon with the Nifty down 46 points at 10,722 while the Sensex is trading lower by 102 points at 35,387.
The Nifty midcap index slipped over 1 percent dragged by CG Power, GMR Infra, IFCI, India Cements, Jain Irrigation Systems, JP Associates, Just Dial, Power Finance Corporation and Reliance Power among others.
Auto stocks are also weak with Ashok Leyland down 3 percent while Tata Motors and Tata Motors DVR shed over 1 percent each.
From the banking space, ICICI Bank is down 3 percent while Yes Bank and Axis Bank are the other losers.
Nifty PSU bank is trading lower by 1.5 percent dragged IDBI Bank, Syndicate Bank, Allahabad Bank, Andhra Bank, Bank of Baroda, Bank of India, Punjab National Bank, State Bank of India and Union Bank of India.
Oil & gas stocks also slipped in the afternoon trade with BPCL and HPCL down 5-7 percent while Indian Oil Corporation, GAIL India and Oil & Natural Gas Corporation are the other losers.
Nifty IT is outperforming the broader indices and all other sectors, up over 1 percent led by stocks like Tech Mahindra, Tata Consultancy Services, HCL Technologies, Infosys and KPIT Technologies.
The top gainers among Nifty constituents were Bharti Infratel, Tech Mahindra, Hindustan Unilever, Dr Reddy's Labs and HCL Tech.
The most actively traded stocks on the NSE were HDFC Bank, TCS, Reliance Industries, Tata Motors and HDFC.
The top losers included BPCL, HPCL, IOC, ICICI Bank and GAIL India which are down 2-7 percent.
Some of the top gainers on BSE are EID Parry, Vakrangee, Jai Corp, Cyient and Tech Mahindra.
The top losers included NBCC, JP Associates, Indocount Industries, Adani Enterprises and HPCL.
Bata India, Dabur India, Godrej Consumer, Hindustan Unilever, Hexaware Technologies, IndusInd Bank, Infosys, Nestle and Jubilant Foodworks are few stocks that hit fresh 52-week high in the afternoon trade.
On the other hand, 268 stocks hit new 52-week low including names like Amtek Auto, GATI, HCC, Indiabulls Real Estate, Jet Airways, Jain Irrigation, Kwality, NBCC, NTPC, SREI Infra and Union Bank among others.
On the BSE, 323 stocks have hit fresh 52-week low including names like NBCC, Punj Lloyd, Indocount Industries, Jain Irrigation, Syndicate Bank, SREI Infra and JM Financial among others.
The breadth of the market favoured declines, with 278 stocks advancing, 1418 declining and 365 remaining unchanged. On BSE, 480 stocks advanced, 1945 declined and 101 remained unchanged.Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.The Great Diwali Discount!
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