D-Street Buzz: Nifty PSU Bank falls 3% dragged by PNB; Kotak Bank rises, VIX spikes

The Indian stock market is trading in the red with Nifty down 31 points at 11,314 while the Sensex is down 95 points and is trading at 37,935 level.

Nifty PSU Bank is down over 3 percent dragged by Punjab National Bank, Bank of Baroda, State Bank of India, Union Bank of India, Central Bank of India, Oriental Bank of Commerce and Bank of India among others.

Midcap index shed over a percent, the top losers are Shriram Transport Finance, Motilal Oswal, M&M Financial Services, GRUH Finance, Union Bank of India and Cholamandalam Investment.

The top smallcap losers are Mastek, Kellton Tech, Talwalkars Healthclubs, SVP Global and V2 Retail among others.

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India VIX spiked 4.23 percent and is trading at 13.56 levels.

The top gainers from NSE include Kotak Mahindra Bank, Hero Moto, Power Grid, ITC and Asian Paints while the top losers are State Bank of India, HDFC, Indiabulls Housing, Dr Reddy’s Labs and Adani Ports.

The most active stocks are YES Bank, HDFC Bank, Kotak Mahindra Bank, Reliance Industries and HDFC.

420 stocks have hit 52-week low on BSE including Duke Offshore, Ruchi Soya, Cox & Kings, Andhra Cements, Eros Media, Prime Focus, Ballarpur Industries, Burnpur Cement, Capital Trust, Apollo Tyres, M&M Financial and Castex Technologies among others.

870 stocks advanced and 871 declined while 357 remained unchanged on the NSE. On the BSE, 1139 stocks advanced, 1234 declined and 171 remained unchanged.

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

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