Stock market update: These stocks tank 4% as market pares gains
NEW DELHI: Shares of JBF Industries (down 4.96 per cent), Unitech (down 4.08 per cent), Precot Meridian (down 3.80 per cent) and Rolta India (down 3.79 per cent) tanked 4 per cent in morning trade on Wednesday.
Stocks such as Idea Cellular (down 3.52 per cent), Repro India (down 3.51 per cent), BGR Energy (down 3.10 per cent) and MMTC (down 3 per cent) declined over 3 per cent.
Equity benchmarks pared some gains owing to losses in select bank, FMCG, metal and financial stocks.
Investors were cautious as the retail inflation rose to a four-month high in May, led by rising prices of food items.
Inflation based on consumer price index (CPI) stood at 4.87 per cent in May against 4.58 per cent in April.
Food inflation rose to 3.1 per cent in May from 2.8 per cent in April, according to a data released by Central Statistics Office on Tuesday.
The NSE Nifty index was trading 15 points up at 10,858, while the BSE Sensex was up 64 points at 35,756 around 10:15 am.
Dr. Reddy's Laboratories, Lupin, Cipla, Sun Pharma and Axis Bank were among the top gainers in the Nifty index.
On the other hand, Zee Entertainment, Indiabulls Housing Finance, Vedanta, Housing Development Finance Corporation and Hindustan Unilever were leading among Nifty losers.
Stocks such as Idea Cellular (down 3.52 per cent), Repro India (down 3.51 per cent), BGR Energy (down 3.10 per cent) and MMTC (down 3 per cent) declined over 3 per cent.
Equity benchmarks pared some gains owing to losses in select bank, FMCG, metal and financial stocks.
Investors were cautious as the retail inflation rose to a four-month high in May, led by rising prices of food items.
Inflation based on consumer price index (CPI) stood at 4.87 per cent in May against 4.58 per cent in April.
Food inflation rose to 3.1 per cent in May from 2.8 per cent in April, according to a data released by Central Statistics Office on Tuesday.
The NSE Nifty index was trading 15 points up at 10,858, while the BSE Sensex was up 64 points at 35,756 around 10:15 am.
Dr. Reddy's Laboratories, Lupin, Cipla, Sun Pharma and Axis Bank were among the top gainers in the Nifty index.
On the other hand, Zee Entertainment, Indiabulls Housing Finance, Vedanta, Housing Development Finance Corporation and Hindustan Unilever were leading among Nifty losers.