Tuesday, November 20, 2018

D-Street Buzz: Nifty Metal underperforms with Hindalco, JSPL down 4%; PSU banks drag

The breadth of the market favoured the declines with 484 stocks advancing and 1224 declining while 357 remained unchanged. On the BSE, 830 stocks advanced, 1628 declined and 140 remained unchanged.





The Indian stock market continued to slide further in this afternoon session with the Nifty50 down 79 points, trading at 10,684 while the Sensex shed 205 points at 35,569.
Nifty Metal is the biggest underperformer, down over 2 percent led by JSW Steel, Hindalco Industries, Jindal Steel & Power, NALCO, SAIL, Vedanta and Tata Steel.
Pharma stocks are also trading in the red dragged by Dr Reddy's Labs, Glenmark Pharma, Piramal Enterprises, Cadila Healthcare, Sun Pharma and Aurobindo Pharma.
Nifty IT remained weak dragged by HCL Tech, Infosys, Tech Mahindra, KPIT Tech and Wipro.
PSU banks are also down with loses from Bank of Baroda, OBC, State Bank of India, Union Bank  of India and Vijaya Bank.
From the BSE midcap space, the top gainers included PAGE Industries, Godrej Properties and Castrol India while the top losers were ICICI Securities and Jindal Steel & Power.
From the BSE smallcap space, the top gainers were ITI, Forbes & Company and Kridhan Infra while the losers included Capital Trust and Weiz Forex among others.
The top gainers from NSE include GAIL India, IndusInd Bank, Adani Ports, Asian Paints and M&M.
The top losers included YES Bank, Tech Mahindra, Indiabulls Housing Finance, Hindalco Industries and Dr Reddy's Labs.
The most active stocks were YES Bank, Indiabulls Housing Finance, Jet Airways, Reliance Industries and ICICI Bank.
Aarti Industries, Adani Gas, Birla Cable, Newgen Software and NRB Bearing were some of the few stocks which hit new 52-week high on the NSE.
48 stocks have hit new 52-week low including names like ABG Shipyard, Sumeet Industries, Deepak Fertilizers, GE T&D and Empee Distilleries 
The breadth of the market favoured the declines with 484 stocks advancing and 1224 declining while 357 remained unchanged. On the BSE, 830 stocks advanced, 1628 declined and 140 remained unchanged.
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