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D-Street Buzz: Nifty metal tanks 4% with JSPL, SAIL down 6%; RIL, SBI up 1-2%

28 September, 2018 7:01 AM
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D-Street Buzz: Nifty metal tanks 4% with JSPL, SAIL down 6%; RIL, SBI up 1-2%

391 stocks have hit new 52-week low including names like 8K Miles Software Services, Aban Offshore, AB Capital, Allahabad Bank, Apollo Tyres, Arvind, Ashoka Buildcon and Bank of Baroda among others.

PSU banks are up as the Indian benchmark indices have turned positive this Friday afternoon with the Nifty50 up 40 points and is trading at 11,017 while the Sensex is trading higher by 170 points at 36,494.

Nifty PSU bank is the outshining sector, up 2 percent led by State Bank of India which jumped 2 percent followed by Bank of Baroda, IDBI Bank, Union Bank of India and Canara Bank.

From the private banking space, IndusInd Bank, Kotak Mahindra Bank, HDFC Bank and Axis Bank are the top gainers while YES Bank shed over 7 percent.

Nifty energy has added half a percent with gains from GAIL India, Indian Oil Corporation and HPCL. Reliance Industries gained 1 percent in the afternoon session.

However, Nifty metal tanks 4 percent dragged by Jindal Steel and Power and SAIL which dipped 6-7 percent followed by JSW Steel, Hindalco Industries, Tata Steel, NALCO and Hindustan Zinc.

From the BSE midcap space, Steel Authority of India fell 5 percent followed by TVS Motor, GRUH Finance, Jindal Steel & Power and PNB Housing Finance.

Infibeam Avenues from the BSE smallcap space tanked 50 percent followed by Kridhan Infra, Future Enterprises DVR and Adlabs Entertainment.

The top NSE gainers include names like State Bank of India, HDFC, Wipro, GAIL India and Hindustan Petroleum Corporation.

The top NSE losers are YES Bank, Indiabulls Housing Finance, JSW Steel, Tata Steel and Bharti Airtel.

The most active stocks are DHFL, YES Bank, Infibeam, Maruti Suzuki and Indiabulls Housing Finance.

The top BSE gainers include KEI Industries, Vakrangee, Can Fin Homes, Bajaj Electric, Kesoram Industries and Max India.

Monnet Ispat and United Breweries are few stocks which hit new 52-week high this Friday afternoon.

On the other hand, 391 stocks have hit new 52-week low including names like 8K Miles Software Services, Aban Offshore, AB Capital, Allahabad Bank, Apollo Tyres, Arvind, Ashoka Buildcon, Bank of Baroda, BEML, Can Fin Homes, Castrol, DHFL, DCB Bank, Hero MotoCorp, Indiabulls Real Estate, Vodafone Idea, Jet Airways, Jain Irrigation, Maruti Suzuki India, NBCC, NIIT, Punjab National Bank, Reliance Capital, Reliance Infrastructure, Tata Motors, Union Bank and YES Bank among others.

The breadth of the market favoured declines, with 434 stocks advancing, 1264 declining and 358 remaining unchanged. On BSE, 670 stocks advanced, 1709 declined and 135 remained unchanged.

Source: moneycontrol.com

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