The breadth of the market favoured declines, with 703 stocks advancing, 897 declining and 462 remaining unchanged. On BSE, 931 stocks advanced, 976 declined and 94 remained unchanged.
The Indian benchmark indices are trading on a negative note this Monday morning with the Nifty50 trading at 11,530, down 58 points while the Sensex is trading lower by 193 points at 38,196.
At 9:54 hrs, the Nifty energy index is down close to a percent dragged by Bharat Petroleum Corporation, Hindustan Petroleum Corporation and Oil & Natural Gas Corporation which are trading lower by over 1 percent each. Heavy weight Reliance Industries is also trading on a weak note and is down close to a percent.
Pharma stocks continues to buzz this morning, up half a percent led by Glenmark Pharma which jumped 2.5 percent followed by Lupin, Cipla, GSK Pharma, Piramal Enterprises and Cadila Healthcare.
Nifty IT is also trading in the green led by Infosys, KPIT Technologies, HCL Technologies and Tata Consultancy Services.
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From the BSE smallcap space, Flexituff International jumped 7 percent followed by Mercator, Arshiya and Alembic. The top loser include IL&FS Transport which plunged 14 percent followed by IL&FS Investment and 8K Miles Software among others.
Axis Bank, Lupin, Cipla, YES Bank and HCL Technologies are the top gainers on the Nifty.
The most active stocks include Axis Bank, YES Bank, Aurobindo Pharma, Reliance Industries and Lupin.
The top BSE gainers are Max Financial Services, Persistent Systems, Axis Bank, Tata Global Beverage and Coffee Day.
Albert David, Axis Bank, Cipla, Dr Reddy's Labs, Glenmark Pharma, JSW Steel and Usha Martin are some of the stocks which hit new 52-week high this Monday morning.
On the other hand, 34 stocks have hit new 52-week low including names like Geojit Financial Services, GIC Housing Finance, IL&FS Transportation Networks, Lanco Infratech, Unitech and Videocon Industries among others.
The breadth of the market favoured declines, with 703 stocks advancing, 897 declining and 462 remaining unchanged. On BSE, 931 stocks advanced, 976 declined and 94 remained unchanged.
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.