The top Nifty gainers include Cipla, Indiabulls Housing Finance, ONGC, Zee Entertainment and Kotak Mahindra Bank while TCS, Hindalco Industries, HCL Tech, Hero MotoCorp and HDFC are the top losers.
The breadth of the market favoured the declines with 761 stocks advancing and 961 declining while 356 remained unchanged. On the BSE, 1160 stocks advanced, 1,451 declined and 162 remained unchanged.
The breadth of the market favoured the advances with 1225 stocks advancing and 488 declining while 364 remained unchanged. On the BSE, 1692 stocks advanced, 960 declined and 141 remained unchanged.
290 stocks have hit new 52-week low on the NSE including names like Indiabulls Housing Finance which fell 4 percent followed by Vedanta, Mahindra & Mahindra, NTPC, JSW Steel, MRF, Motherson Sumi Systems and Coal India among others.
The breadth of the market favoured the declines with 658 stocks advancing and 1029 declining while 369 remained unchanged. On the BSE, 868 stocks advanced, 1389 declined and 128 remained unchanged.
The breadth of the market favoured the advances with 1010 stocks advancing and 667 declining while 379 remained unchanged. On the BSE, 1286 stocks advanced, 1015 declined and 149 remained unchanged.
Manpasand Beverages, Indiabulls Real Estate, Dish TV India, are some of the companies where promoters increased their holding but stocks remained underperformer.
Indiabulls Real Estate said the transaction will close in the current financial quarter.
In November, the company had announced signing of a non-binding term sheet to divest 50 percent stake in these two assets having nearly 8 lakh sq ft leasable area.
The restructuring will facilitate proposed divestment of the company's assets in Chennai to Blackstone Group.
The breadth of the market favoured the advances with 764 stocks advancing and 913 declining while 384 remained unchanged. On the BSE, 1157 stocks advanced, 1297 declined and 142 remained unchanged.
We expect the stock to move higher towards its potential target of Rs89 in the medium term, says Hadrien Mendonca of IIFL.
The breadth of the market favoured the advances with 831 stocks advancing and 685 declining while 532 remained unchanged. On the BSE, 889 stocks advanced, 625 declined and 77 remained unchanged.
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 42 points or 0.39 percent. Nifty futures were trading around 10,784-level on the Singaporean Exchange.
It is advisable to be optimistically cautious at the current juncture. The Nifty has formed a Doji pattern on the daily chart which indicates that momentum, to some extent, is fading away.
Technically, 10929 will be important resistance level to watch out for. Also, as long as Nifty trades below 10800, 10749, chances of profit booking remains high.
Indiabulls Real Estate recently reported a 23 per cent increase in its consolidated net profit at Rs 75.91 crore for the quarter ended September 30. Its net profit stood at Rs 61.64 crore in the year-ago period.
In May this year, the company has announced buyback of up to 2.6 crore fully paid-up equity shares of Rs 2 each of the company at prevailing market price on stock exchanges at a price not exceeding Rs 240 apiece, up to an aggregate amount not exceeding Rs 624 crore.
India Bulls Real Estate said the assets sold are non-core real estate business operations for the company and will realise a gross value of approximately Rs 850 crore, subject to adjustments, if any, basis certain assets and liabilities on closing (transaction).
The company had earlier proposed to issue secured, redeemable, non-convertible debentures of face value Rs 10 lakh each aggregating Rs 480 crore on a private placement basis.