D-Street Buzz: Nifty Realty outperforms led by Sunteck Realty; IT stocks drag

The Indian benchmark indices have turned around and have erased the morning gains. Nifty50 is up 12 points and is trading at 11,439 while the Sensex has added 11 points and is trading at 38,036.

At 1255 hours, Nifty IT shed over half a percent dragged by Tata Consultancy Services, Wipro, HCL Tech and Infibeam Avenue.

Auto stocks continue to remain weak as Maruti Suzuki has shed 2 percent followed by Hero MotoCorp, Motherson Sumi, Eicher Motors, Bharat Forge, Bajaj Auto and Ashok Leyland.

Selective PSU banks are also trading in the red led by State Bank of India and Central Bank of India.

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Nifty Realty is the outperforming sector led by Prestige Estates that spiked 8 percent followed by Indiabulls Real Estate, Sobha, Godrej Properties and DLF.

Nifty Energy added over 1 percent led by HPCL, Indian Oil Corporation, Reliance Industries, BPCL and Reliance Infra.

Realty stocks are also buzzing led by Prestige Estates that zoomed 17 percent followed by Indiabulls Real Estate, Sobha, Oberoi Realty, Godrej Properties and Brigade Enterprises.

The top Nifty gainers included Indian Oil Corporation, BPCL, HPCL, Tata Motors and Bharti Infratel while the top losers included Maruti, Grasim Industries, Hero Moto, Vedanta and Eicher Motors.

The most active stocks were Maruti Suzuki, ICICI Bank, Kotak Mahindra Bank, Reliance Industries and HDFC Bank.

HDFC Bank, ICICI Bank, Axis Bank, Karnataka Bank, UPL, SRF, Jubilant Life Sciences, IDFC First Bank and Alok Industries have hit 52-week high on NSE.

The breadth of the market favoured the declines with 685 stocks advancing and 1,024 declining while 390 remained unchanged. On the BSE, 1,011 stocks advanced, 1,474 declined and 161 remained unchanged.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
First Published on Mar 18, 2019 01:19 pm

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