Market Update: IT, metal stocks outshine led by Tech Mahindra, Hindalco; Sintex zooms 10%, HPCL, BPC

The Indian equity market was trading on a flat to positivenote on Wednesday morning with the Niftyadding1 point and was trading at 10,718 while the Sensex wasup 17 points or 0.05 percent.

The Nifty IT index outperformed, adding close to 1 percent led by Tech Mahindra which added 1 percent followed by Tata Elxsi and Tata Consultancy Services.

Nifty metal also out shined the broader indices led by Hindalco Industries, Jindal Steel & Power which added 2 percent each followed by Tata Steel, Vedanta and NALCO.

The top Nifty gainers includedHindalco Industries which was up2 percent followed byBharti Infratel and Yes Bank which added 1 percent each. Tata Steel and Vedanta were the other gainers.

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The most active Nifty stocks included PC Jeweller whichadded1 percent. Hindalco, Jubilant Foodworks, ICICI Bankand HPCL were the other active stocks.

The top Nifty losers wereHPCL which shed over 3 percent while BPCL and Indian Oil Corporation were down 2 percent each. UltraTech Cement and ICICI Bank were the other losers.

The top BSE gainers includedSintex Industries which zoomed 10 percent followed by Mahindra Holidays & Resorts which jumped 5 percent. Firstsource Solutions and Jubilant Food were the other gainers.

The top BSE losers included names likeHPCL and Chennai Petro which shed 2-3 percent while BPCL, Blue Dart and IOC were the other losers.

Firstsource, KPIT Tech, Bombay Dyeing, Divis Labs, Manappuram Finance andRelaxo Footwears were few of the stocks that hit fresh 52-week high in the morning trade.

On the other hand, 48 stocks hit new 52-week low including names like Alok Industries,Chennai Petro, EROS International, HUDCO, NBCC and Vakrangeeamong others.

The market breadth wasin favour of the advances with844 stocks advancing while728 declined and 458 remained unchanged. On the other hand, in the BSE,1057 stocks advanced and777 declined and93 remained unchanged.

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