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Market Update: Nifty realty, PSU bank fall 2% as market bleeds further; Tech Mahindra tanks 5%

The breadth of the market favoured declines, with 398 stocks advancing, 1298 declining and 365 remaining unchanged. On BSE, 722 stocks advanced, 1772 declined and 132 remained unchanged.

June 28, 2018 / 02:21 PM IST

The Nifty and the Sensex slipped into the red and also extended the morning loses this Thursday afternoon with the Nifty down 89 points at 10,582 and the Sensex is trading lower by 211 points at 35,005.

376 stocks have hit fresh 52-week year low including names like Adani Power, Amtek Auto, Andhra Bank,  Bank of Baroda, Bank of India, Bharat Electronics, BEML, Bharat Heavy Electricals, Ceat, Cummins India, Dena Bank, GATI, GE T&D, Grasim Industries, HCC, HCL Infosystems, Indiabulls Real Estate, IDFC Bank, India Cements, Indian Overseas Bank, India Oil Corporation, Jet Airways, JK Tyre, JK Lakshmi Cements, KRBL, Kwality, Motherson Sumi Systems, NTPC, PTC India Financial, Power Grid, PTC India, Rallis India, SREI Infra, Suzlon Energy, Syndicate Bank, Tata  Power, Tata Motors, Union Bank of India and UPL among others.

The Nifty midcap index is down 1.3 percent dragged by Allahabad Bank, Apollo Tyres, Ashok Leyland, Bata India, Bharat Financial Inclusion, Biocon, CESC, Havells India, India Cements, Jain Irrigation Systems, NHPC and Voltas among others.

With the rupee hitting record low in the opening trade, IT stocks including Infosys added over 1 percent followed by Wipro and HCL Technologies. However, Tech Mahindra tanked over 5 percent followed by Tata Elxsi, Tata Consultancy Services and Mindtree.

Nifty bank is also down dragged by Federal Bank which shed 3 percent while ICICI Bank, State Bank of India, Punjab National Bank and Yes Bank are the other losers.

Close

With the rise in crude oil prices, Nifty energy is trading lower by over 1 percent with loses from GAIL India, HPCL, BPCL and Reliance Industries among others.

Nifty realty is lower by close to 3 percent dragged by Indiabulls Real Estate, Prestige Estates, Sobha, DLF and Godrej Properties.

The top gainers among Nifty constituents were Mahindra & Mahindra, Infosys, Lupin, Tata Steel and Hindalco Industries.

The most actively traded stocks on the NSE were HDFC Bank, Dewan Housing Finance, TCS, ICICI Bank and Infosys.

The top losers included Tech Mahindra, GAIL India, Titan Company, Grasim Industries and BPCL.

Some of the top gainers on BSE are CG Power, Vakrangee, NALCO, Shriram City Union and Religare.

The top losers included Jain Irrigation Systems, Shriram Transport, Cholamandalam Investment, Lakshmi Vilas Bank and Tech Mahindra among others.

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

The breadth of the market favoured declines, with 398 stocks advancing, 1298 declining and 365 remaining unchanged. On BSE, 722 stocks advanced, 1772 declined and 132 remained unchanged.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
Sandip Das
first published: Jun 28, 2018 02:21 pm

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