Nifty midcap was trading lower but individual stocks are buzzing with Bata India up 2 percent followed by Mcleod Russel India.The broader indices are trading on a negative note this Monday morning with the Nifty down 22 points at 10,795 and the Sensex is trading lower by 65 points at 35,557.
Metal stocks were the biggest losers as Tata Steel, Jindal Steel & Power, JSW Steel, Hindalco Industries and Hindustan Zinc were down up to 3 percent.From the real estate space, Unitech, HDIL, Indiabulls Real Estate, Phoenix Mills and Sobha were the top losers.
The top gainers among Nifty constituents were HPCL, ICICI Bank, IOC, BPCL and HCL Tech.The most actively traded stocks on the NSE were Tata Consultancy Services, ICICI Bank, Dr Reddy's Labs, Infosys and Strides Shasun.
Bajaj Finance, Bharat Financial Inclusion, Jubilant Foodworks and Page Industries were the few stocks that hit fresh 52-week highs in the morning trade.On the other hand, 34 stocks hit a new 52-week low. These include ICRA, Bharti Infratel, IOB, Manpasand Beverages, MRPL, Tata Power and Vedanta among others.
The breadth of the market favoured declines, with 529 stocks advancing, 1035 declining and 492 remaining unchanged. On BSE, 681 stocks advanced, 1134 declined and 82 remained unchanged.
TCS hit a new high of Rs 1,871, up 1.6% on Monday, extending its Friday’s 2.7% gain the BSE after the company’s board approved a proposal to buy back up to 76 million equity shares worth about Rs 160 billion. The buyback price has been fixed at Rs 2,100 a share, a 14 per cent premium over its Friday’s closing price of Rs 1,841 market price. The promoters’ holding in the company now stands at 71.92%.Infosys, too, hit a new high of Rs 1,291, up 0.8%, extending its previous day’s 3.3% gain on the BSE.
At 09:38 am; the S&P BSE Index up 0.1% at 13,965, hit a record high of 14,071 in intra-day trade today. On comparison, the S&P BSE Sensex was trading 0.09% lower at 35,586 points.
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