Market Update: 88 stocks hit new 52-week low; Sun Pharma, TVS Motor down 2-3%, PC Jeweller zooms 22%

The Indian equity market extended loses was trading on a negative note on Friday afternoon with the Nifty falling 54 points was trading at 10,624 while the Sensex was down 179 points or 0.51 percent.

Nifty pharma was the biggest drag to the market weakness, shedding 1.3 percent as stocks like Sun Pharmaceutical Industries fell 2.5 percent followed by Aurobindo Pharma, Divis Laboratories and GSK Pharma, which shed over 1 percent each.

CNX Auto was also weak dragged by TVS Motor Company which was down over 3 percent while Bharat Forge, Motherson Sumi Systems fell 2 percent each. Bajaj Auto and Eicher Motors traded lower by 1 percent.

The top Nifty gainers included Adani Ports which was up 2.3 percent followed by GAIL India which gained 1.8 percent. ONGC, Tech Mahindra and HCL Technologies added over 1 percent each.

The most active Nifty stocks included PC Jeweller which zoomed 22 percent while Bharti Airtel, Hexaware Technologies, NIIT Tech and Vedanta were the other active stocks.

The top Nifty losers were Sun Pharma and Infosys, each shedding 2 percent followed by Bajaj Auto, Eicher Motors and Yes Bank.

The top BSE gainers included PC Jeweller which jumped 22 percent while Rattan India was up 9 percent. Bombay Dyeing, HCC and Just Dial were the other gainers.

The top BSE losers included names like Hexaware Tech which shed 10 percent while NNIT Tech and JSW Energy were down 5 percent. Ajanta Pharma and Castrol India were the other losers.

Manappuram Finance, Tata Chemicals and Khadim were few of the stocks that hit fresh 52-week high in the afternoon trade.

On the other hand, 88 stocks hit new 52-week low including names like BEML, Chennai Petro, Hindustan Petroleum Corporation, HCC, Idea Cellular, India Cements, Mahanagar Gas, Strides Shasun, Suzlon Energy and Vakrangee among others.