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The Nifty and the Sensex are trading on a flat to positive note this Thursday morning with the Nifty down 8 points at 10,663 and the Sensex is trading higher by 29 points at 35,246.
Continuing yesterday's fall of the number of stocks hitting new 52-week low, today also over 300 stocks have already hit fresh 1 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.
Despite the fall in the number of stocks, individual midcap names are buzzing led CG Power, Reliance Infra, MRF, JP Associates and Petronet LNG among others.
With the rupee hitting record low in the opening trade, IT stocks are up led by Infosys which added over 2 percent followed by Wipro and HCL Technologies.
Nifty auto managed to stay in the green with gains from Bharat Forge, Mahindra & Mahindra, Exide Industries and Bajaj Auto.
Nifty bank is also up led by HDFC Bank which is up 1 percent while Axis Bank and Kotak Mahindra Bank are the other gainers.
With the rise in crude oil prices, oil & gas stocks have become weak. The top losers included BPCL, HPCL, GAIL India and Reliance Industries.
Metal stocks are also shining with gains from NALCO, Tata Steel, Hindalco Industries, JSW Steel, Jindal Steel & Power and Vedanta.
From the pharma space, Lupin, Dr Reddy's Labs, Glenmark Pharma, Cadila Healthcare and Aurobindo Pharma are all up in the morning trade.
The top gainers among Nifty constituents were Mahindra & Mahindra, Infosys, Vedanta, Tata Steel and HDFC Bank, which added 1-2 percent.
The most actively traded stocks on the NSE were HDFC Bank, TCS, Reliance Industries, Infosys and ICICI Bank.
The top losers included GAIL India, Titan Company, BPCL, NTPC and HPCL.
Some of the top gainers on BSE are CG Power, Vakrangee, NALCO, Container Corp and Symphony.
The top losers included PNB Housing, Dilip Buildcon, Kwality, KPR Mills and Lakshmi Vilas Bank .
Godrej Consumer, Infosys and Mphasis are few stocks that hit fresh 52-week high in the morning trade.
The breadth of the market favoured declines, with 579 stocks advancing, 1023 declining and 450 remaining unchanged. On BSE, 822 stocks advanced, 1204 declined and 89 remained unchanged.
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
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