D-Street Buzz: Auto stocks slip further led by Hero Moto, Bharti Airtel sheds 2%; Bajaj Finance gains

The Indian stock market has turned negative in the afternoon trade with Nifty50 down 3 points, trading at 11,439 while the Sensex has added 11 points and is trading at 38,036.

At 1455 hours, Nifty IT along with Nifty Auto shed over a percent dragged by Wipro, Infosys, Tata Consultancy Services, Tech Mahindra, HCL Tech and Infibeam Avenue.

From the auto space, the top losers are Maruti Suzuki followed by Hero MotoCorp, Motherson Sumi, Eicher Motors, Bharat Forge, Bajaj Auto and Ashok Leyland.

Selective PSU banks continue to trade in the red led by State Bank of India, Punjab National Bank and Central Bank of India.

From the midcap space, the top losers are 3M India, CG Consumer, GE T&D, GRUH Finance, Reliance Communications, Shriram Transport and Tata Global Beverage among others.

From the small-cap space, the top losers are Action Construction, Adan Offshore, Adani Transmission, Aksh Optifibre, Allcargo Logistics, Amtek Auto, Apar Industries, Arcotech, Arihant Superstructures, RPP Infra, Indocount Industries, Gayatri Projects and TTK Prestige among others.

The top Nifty gainers included Indian Oil Corporation, BPCL, HPCL, JSW Steel and Bajaj Finance while the top losers included Maruti, Wipro, Hero Moto, Bharti Airtel and HCL Tech.

The most active stocks were Maruti Suzuki, ICICI Bank, Just Dial, Reliance Industries and HDFC Bank.

HDFC Bank, ICICI Bank, Axis Bank, Karnataka Bank, UPL, SRF, Jubilant Life Sciences, IDFC First Bank, PVR and Alok Industries have hit 52-week high on NSE.

The breadth of the market favoured the declines with 711 stocks advancing and 1,023 declining while 368 remained unchanged. On the BSE, 1,061 stocks advanced, 1,582 declined and 172 remained unchanged.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.