The Indian benchmark indices have extended the early morning losses and are trading deep in the red with Nifty down 136 points, trading at 11,320 whereas Sensex has fallen 463 points, trading at 37,701.
Nifty Realty is down over 2 percent dragged by Indiabulls Real Estate that shed over 4 percent followed by DLF, Prestige Estate, Sunteck Realty and Unitech. The S&P BSE Realty index also trading a couple of percentage lower with losses from Indiabulls Real Estate, DLF, Sobha, Prestige Estates, Sunteck Realty, Godrej Properties, Mahindra Life, Oberoi Realty and Phoenix Mills.
Telecom stocks have also taken a beating. The top losers are Vodafone Idea which is down 5 percent while Reliance Communications, Optiemus Infracom and GTL Infra have shed 4 percent each. The other losers are MTNL, Tejas Networks, GTPL, Bharti Infratel, Aksh Opti Fibre, TTML, Tata Communications and Bharti Airtel.
From the metal space, the top losers are SAIL that shed 3 percent followed by Vedanta, Jindal Steel and Power, NMDC, JSW Steel, Hindalco Industries, Hindustan Zinc, Tata Steel and NALCO.
related news Jet Airways surges 15% on report of resignation of Naresh Goyal & Anita Goyal Hero Motocorp touches 52-week low, sheds over 7% in 9 sessionsElara Capital has recommended a buy on Bharti Airtel with a target of Rs 520 based on 6.5x FY21E EV/EBITDA adjusted for the minority holding in Bharti Infratel, but without adjusting for the upcoming rights issue.
Over 100 stocks have hit 52-week low on the BSE including names like Lakshmi Energy, Petron Engineering, Genesys International, Igarashi Motors, Hero MotoCorp, Uttam Value Steel, SRS Finance and Ballarpur Industries among others.
The breadth of the market favoured the declines with 362 stocks advancing and 1,383 declining while 357 remained unchanged. On the BSE, 664 stocks advanced, 1,897 declined and 166 remained unchanged. First Published on Mar 25, 2019 02:51 pm
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