D-Street Buzz: Nifty Metal underperforms dragged by JSPL, Hindalco; Eicher Motors falls 5%

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D-Street Buzz: Nifty Metal underperforms dragged by JSPL, Hindalco; Eicher Motors falls 5%

The Indian benchmark indices were trading in the red in this Wednesday morning session with the Nifty50 shedding 13 points, trading at 10,848 while the Sensex was down 189 points and was trading at 36,065.

Nifty Metal was the underperforming sector, down 2.5 percent dragged by Hindalco Industries which dipped over 4 percent followed by JSPL which shed 3 percent. The other losers were JSW Steel, Tata Steel, NALCO and Vedanta.

Auto stocks were also weak with loses from Eicher Motors which fell 5 percent followed by Mahindra & Mahindra, Tata Motors and Ashok Leyland.

Nifty IT was up half a percent led by Infosys, Mindtree, Tata Consultancy Services, Tata Elxsi and Tech Mahindra.

The top gainers from NSE include Tech Mahindra, Bharti Infratel, Wipro, TCS and YES Bank while the top losers included Eicher Motors, JSW Steel, Hindalco, M&M and Vedanta.

The most active stocks were Eicher Motors, BEML, Tata Steel, State Bank of India and Mahindra & Mahindra.

19 stocks have hit new 52-week low including names like Arrow Textiles, Mcnally Bharat Engineering, Sundaram Finance Holdings, Unity Infraprojects and Visesh Infotecnics among others.

The breadth of the market favoured the declines with 639 stocks advancing and 857 declining while 549 remained unchanged. On the BSE, 723 stocks advanced, 815 declined and 86 remained unchanged.

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

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Images are for reference only.Images gathered automatic from google.All rights on the images are with their original owners.

2019-01-04 06:51:32

Images are for reference only.Images gathered automatic from google.All rights on the images are with their original owners.

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