D-Street Buzz: Zee Ent drags Nifty Media 2%, energy stocks also slip; Infosys gains

The Indian benchmark indices are trading on a flat to negative note with Nifty shedding 10 points, trading at 11,521 whereas Sensex is down 22 points, trading at 38,341.

At 0934 hours, Nifty Media is the underperforming sector, down over 2 percent dragged by Zee Entertainment that shed 4 percent followed by Dish TV, UFO Moviez, INOX Leisure and Sun TV Network.

Oil & gas stocks are also trading in the red with losses from BPCL, HPCL, Indian Oil Corporation and Reliance Industries.

From the PSU banking space, the top losers are State Bank of India, Punjab National Bank, Oriental Bank of Commerce, Indian Bank, Canara Bank and Bank of India.

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Nifty PSE is also down over a percent dragged by NMDC, NHPC, Oil India, PFC and NTPC.

However, Nifty Realty is the outperforming sector led by Indiabulls Real Estate, DLF, Godrej Properties, Prestige Estates and Oberoi Realty.

From the IT space, the top gainers are Infosys that added close to 2 percent followed by Tata Elxsi, Tech Mahindra and Wipro.

The top Nifty gainers included Indiabulls Housing Finance, Infosys, Wipro, Hindalco Industries and Vedanta while the top losers included Zee Entertainment, IOC, HPCL, BPCL, and ONGC.

The most active stocks were Jubilant Life Sciences that shed 5 percent followed by Infosys, Axis Bank, Indiabulls Housing and Reliance Industries.

Axis Bank, Refex Industries, Titan Company and Alok Industries have hit 52-week high on NSE.

The breadth of the market favoured the declines with 717 stocks advancing and 842 declining while 507 remained unchanged. On the BSE, 725 stocks advanced, 736 declined and 83 remained unchanged.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd. First Published on Mar 20, 2019 10:10 am