Market Update: IndusInd Bank hits new 52-week high; HCPL top Nifty gainer, ICICI Bank up 1.5%

The Indian equity market were trading on a negative note on Tuesday afternoon with the Nifty shedding 8 points at 10,203 mark while the Sensex was down 15 points or 0.05 percent.

The Nifty PSU bank index was still trading higher by 1 percent in the afternoon trade after the Reserve Bank of India asked the lenders to spread bond losses over 4 quarters.

Among the banking names State Bank of India was up 1 percent while Bank of Baroda gained 1.3 percent. Union Bank added 1.3 percent followed by Syndicate Bank, Bank of India and IOB among others.

The top Nifty gainers included Hindustan Petroleum Corporation which jumped 3 percent followed by Indiabulls Housing Finance which was up 2 percent. Mahindra & Mahindra, Power Grid and Indian Oil Corporation were the other gainers.

The most active Nifty stocks included ICICI Bank which was up bu 1.5 percent while Infibeam gained 4 percent followed by Tata Steel, Reliance Industries and State Bank of India.

The top Nifty losers were Tech Mahindra which fell 3 percent while Hindalco Industries, ONGC, Wipro and Titan Company were the other Nifty losers.

The top BSE gainers included Delta Corp which zoomed 12 percent while HCC was up 9.72 percent. Sharda Crop,Advanced Enzymes and MMTC were the other gainers.

The top BSE losers included names like Vakrangee which was down 5 percent followed by Tech Mahindra, Religare and GRUH Finance.

Apollo Tyres, Interglobe Aviation, Britannia Industries, MRF, Nestle  India, Firstsource Solutions, IndusInd Bank and TV18 Broadcast were few Nifty stocks which hit fresh 52-week high in today's trade.

42 stocks hit new 52-week low including names like Gitanjali Gems, Kwality, SRS and Videocon Industries among others.

The market breadth was in favour of the advances with 1150 stocks advancing while 576 declined and 304 remained unchanged. On the other hand, in the BSE, 1617 stocks advanced and 925 declined and 135 remained unchanged.