Market Update: Nifty infra underperforms as 161 stocks hit new 52-week low; ICICI most active, Airtel down 3%

The Indian benchmark indices are trading on a negative note this Monday afternoon with the Nifty shedding 64 points at 10,649 and the Sensex is trading lower by 167 points at 35,255.

Nifty infra is down 2 percent dragged by Adani Ports, Adani Power, Bharti Airtel, BHEL, Container Corp, Idea Cellular, Interglobe Aviation, NBCC, NHPC, NTPC, Reliance Communications and Tata Power among others.

Metal stocks are down this Monday afternoon with JSPL, Hindalco, JSW Steel, NALCO, NMDC and SAIL trading lower by up to 6 percent.

The Nifty midcap index is lower by 1 percent dragged by Bata India, Havells, India Cements, JP Associates, JSW Energy, Just Dial, Karnataka Bank, NHPC, Power Finance Corporation, Reliance Capital, Reliance Power, SAIL and Voltas among others.

From the auto space, Amara Raja Batteries, Ashok Leyland, Bajaj Auto and TVS Motor Company are the top gainers.

IT stocks are also buzzing led by Infosys, KPIT Tech, Tech Mahindra and Oracle Financial Services.

Bank Nifty is down in the afternoon trade dragged by Axis Bank, HDFC Bank and Yes Bank.

Nifty energy is weak with ONGC and Reliance Industries down 1 percent while HPCL and GAIL India traded higher.

Nifty IT is trading in the green led by Infosys, Tata Consultancy Services, Tech Mahindra and Mindtree.

The top gainers among Nifty constituents were Asian Paints, Bajaj Auto, Infosys, ICICI Bank and IndusInd Bank.

The most actively traded stocks on the NSE are ICICI Bank, RITES, Tata Steel, Reliance Industries and FINE Organics.

The top NSE losers included Bharti Airtel, NTPC, Hindalco, Adani Ports and ONGC.

Some of the top gainers on BSE are Vakrangee, RAIN Industries, Motilal Oswal, PNB and Max India.

Britannia Industries, Bata India, Godrej Consumer and Infosys are few stocks that hit fresh 52-week high in the afternoon trade.

On the other hand, 161 stocks have hit new 52-week low including Adani Power, Bank of Baroda, Bank of India, Can Fin Homes, Capital First, Castrol, Gammon India, Hindustan Astronautics, India Cements, JK Tyre and JBF Industries among others.

The breadth of the market favoured declines, with 548 stocks advancing, 1177 declining and 356 remaining unchanged. On BSE, 817 stocks advanced, 1697 declined and 136 remained unchanged.

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