Market Update: Over 120 stocks hit new 52-week low including BoB, UltraTech; Infratel, ITC up 1-2%

The broader indices including the Nifty and the Sensex are trading on a negative note this Friday afternoon with the Nifty down 10 points at 10,731 and the Sensex is trading lower by 30 points at 35,401.

Although the market managed to regain some lost grounds since morning, over 120 stocks has hit fresh 52-week low this afternoon. ACC, Bank of Baroda, Bharat Electronics, Dalmia Bharat, EID Parry, Grasim, HAL, HCC and IL&FS Transportation Networks hit new 52-week low.

Also, NTPC, NHPC, NBCC, Pincon Spirit, PNB Housing, Punj Lloyd, Shree Cement, Suzlon Energy, UltraTech Cement and UPL are the other stocks which hit fresh 52-week low.

Nifty midcap is down half a percent dragged by Apollo Tyres, Bharat Financial Inclusion, CG Power, Hindustan Zinc, JSW Energy, Mcleod Russel, Reliance Infra, Reliance Power, Siemens and Tata Chemicals.

Individual auto names are buzzing this Friday afternoon led by Mahindra & Mahindra, Bosch and Bharat Forge among others.

Bank Nifty is trading weak with stocks like IndusInd Bank, IDFC Bank, Punjab National Bank and Yes Bank shedding up to 1.5 percent.

Nifty energy is also in the red dragged by heavy weight Reliance Industries which is down over 1 percent.

On the other hand, FMCG stocks are buzzing this afternoon led by Jubilant Foodworks, ITC, United Spirits and Tata Global Beverage among others.

Bharti Infratel, Tata Power, NCC, Larsen & Toubro and Bharti Airtel from the Nifty infra space are all trading on a positive note.

The top gainers among Nifty constituents were Mahindra & Mahindra, Bharti Infratel, ITC, BPCL and Bajaj Finance.

The most actively traded stocks on the NSE were Reliance Industries, HDFC, Tata Consultancy Services, ICICI Bank and State Bank of India.

The top losers included Grasim Industries, Reliance Industries, UPL, IndusInd Bank and Wipro.

Some of the top gainers on BSE were Dr Lal Path Labs, Vakrangee, GE T&D, Godfrey Phillips and Jet Airway.

The top losers included Shree Renuka Sugars, Kwality, SRF, HCC and PNB Housing among others.

Abbott India and Dr Lal Path Labs are two of the only few stocks that hit fresh 52-week high in the afternoon trade.

The breadth of the market favoured declines, with 637 stocks advancing, 1011 declining and 411 remaining unchanged. On BSE, 881 stocks advanced, 1319 declined and 129 remained unchanged.

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