Markets witness stock specific moves

The markets are seeing more of a stock specific activity, while the benchmark indices are hovering around the previous day's close.

The Sensex so far has moved in a narrow band of 140-odd points. The BSE benchmark index has touched a high of 17,172, and a low of 17,034. The index is now up 20 points at 17,140.

The NSE Nifty is down three points at 5,145.

The market breadth is extremely negative with over 1,600 stocks on the declining side as against 700 advancing shares on the BSE.

Cipla is the top gainer among the index stocks, up 6 per cent at Rs 305 on the back of better-than-expected earnings. Tata Motors, Jindal Steel, HDFC Bank and ONGC are the other prominent gainers.

Tata Power leads the loser list with a loss of 3.5 per cent at Rs 97. DLF, Jaiprakash Associates, Tata Steel and ICICI Bank are the other key losers.

Among individual sectors, the realty index has tanked 2.5 per cent to 1,720. DB Realty has plunged over 6 per cent to 57.35. Indiabulls Realestate has also dropped over 5 per cent to 68.25. HDIL, Sobha Developers, Phoenix Mills and Prasvnath Developers are the other major losers.

In the broader markets, Adani Enterprises and Shree Renuka Sugars have tumbled over 7 per cent each to Rs 422 and Rs 35.65, respectively. Redington India, United Spirits, Sintex, Aurobindo Pharma and Mundra Port are the other significant losers.

On the other hand, Emami has rallied nearly 3 per cent to Rs 439. Jet Airways, IDFC, Nestle and Havells India are the other notable gainers.