D-Street Buzz: Bank Nifty underperforms dragged by Kotak Bank, HDFC Bank; Zee Ent spikes 5%

After 2 percent surge in the last couple of days of trading on September 20 and September 23, the Indian benchmark indices have cooled off with Nifty and Sensex trading in the red.

Nifty50 shed 50 points and is trading at 11,544 level while the Sensex was down 170 points and is trading at 38,919 mark.

Bank Nifty was the underperforming sector, down over 2 percent dragged by Kotak Mahindra Bank which shed 3 percent followed by HDFC Bank, State Bank of India and ICICI Bank which were down 2 percent each. The other losers.

The realty index was down close to 2 percent dragged by Prestige Estates, Phoenix Mills and Brigade Enterprises which shed over 3 percent each followed by Oberoi Realty and Sobha.

Nifty IT was up over a percent led by Infosys, Tech Mahindra, Tata Elxsi, Tata Consultancy Services and Wipro.

Oil & gas stocks were also buzzing led by Reliance Industries which jumped close to 4 percent while BPCL also traded in the green.

Nifty Media added a percent with Dish TV up over 8 percent followed by Zee Entertainment and PVR.

The most active stocks were Reliance Industries, Maruti Suzuki, Zee Entertainment, HDFC Bank and ICICI Bank.

Among the Nifty50 names, 21 stocks advanced while 29 declined.

59 stocks hit new 52-week high on BSE including MCX India, Muthoot Finance, IIFL Wealth Management, Balrampur Chini, JK Cement, IGL and PVR among others.

95 stocks hit 52-week low on BSE including ITD Cementation, Coffee Day Enterprises, Manpasand Beverages, HDIL, Reliance Home Finance and Indian Bank among others.