Tata Steel, PFC, Max Financial Services, Mahindra CIE top losers among BSE ‘A’ group stocks

The Indian stock market continues to trade lower this Tuesday afternoon extending the morning loses with the Nifty50 down 138 points while the Sensex is trading lower by 451 points at 37,470.

The breadth of the market also favoured declines, with 438 stocks advancing, 1296 declining and 330 remaining unchanged. On BSE, 845 stocks advanced, 1809 declined and 141 remained unchanged.

From the BSE A group stocks, the top losers are Tata Steel which is down 8.36 percent followed by Power Finance Corporation (PFC). PFC saw spurt in volume by more than 4.21 times as the company posted a 22 percent jump in profit to Rs 1,373 crore and credit impaired loan assets at Rs 27,384 crore.

Max Financial Services is down 6.13 percent and Cholamandalam Investment and Finance Company shed 5.34 percent. The other losers include SWAN Energy which is down 5 percent followed by Mahindra CIE Automotive which is trading lower by 4.7 percent.

Gateway Distriparks is trading lower by 4.77 percent while Adani Transmission is down 4.93 percent.

From the BSE Group B stocks, GTN Industries plunged 19.96 percent and breached lower circuit of Rs 18.05. Globus Spirits shed 11.60 percent in the afternoon session while Usha Martin traded lower by 10.44 percent.

Khaitan India shed 9.84 percent while LT Foods is down Vivanta Industries 10.18 percent. These are followed by STEL Holdings and NU Tek India.