The breadth of the market favoured declines, with 742 stocks advancing, 954 declining and 369 remaining unchanged. On BSE, 1055 stocks advanced, 1428 declined and 139 remained unchanged.
The Indian benchmark indices have slipped into the red this Thursday afternoon with the Nifty shedding 23 points and is trading at 10,746 mark. The Sensex is trading lower by 81 points at 35,564.
Nifty FMCG is up over 1 percent led by ITC which jumped 3 percent while Emami, Marico and Hindustan Unilever are the other gainers.
The metal and the IT index are the biggest drag to the market weakness. The top IT losers include names like Infosys which is down over 5 percent followed by KPIT Tech, Tech Mahindra and KPIT Technologies.
The top metal losers include names like NALCO, Hindustan Zinc, Jindal Steel and Power, SAIL, Tata Steel, Vedanta and Hindalco Industries.
After the 41st AGM, Reliance Industries has slipped into the red, trading lower by over 1.5 percent which has also dragged the Nifty energy index down. The other stock which have lost some ground include GAIL India.
Following the launch of JioGigaFiber and registering a customer base of 215 million, other telecom stocks have come under pressure. Bharti Airtel and Idea Cellular are down 1 percent each. DEN Networks is down 8 percent while Hathway Cable has fallen close to 15 percent.
Nifty realty is down 1 percent with loses from DLF, Godrej Properties, HDIL, Phoenix Mills, Oberoi Realty, Prestige Estates and Sobha.
The top gainers among Nifty constituents were Yes Bank, UltraTech Cement, ITC, HPCL and Asian Paints which gained up to 4 percent.
The most actively traded stocks on the NSE are Reliance Industries, Infosys, Shriram Transport, Maruti Suzuki and Yes Bank.
The top NSE losers included Infosys, Titan Company, Vedanta, Tata Motors and Reliance Industries.
Some of the top gainers on BSE are IL&FS Transport which jumped close to 10 percent followed by Future Lifestyle, GATI, Firstsource Solutions and Yes Bank.
The top losers included Hathway which tanked 14 percent while DEN Networks is trading lower by 8 percent. HCC, Infosys and Vakrangee are the other losers.
Britannia Industries, Graphite India, Hindustan Unilever and HEG are some of the very few stocks that hit fresh 52-week high in the afternoon trade.
On the other hand, 156 stocks have hit new 52-week low including BHEL, DEN Networks, Dena Bank, Grasim Industries, Hathway Cable, Finolex Industries, Kwality, Max Financial, Punj Lloyd and Tata Motors among others.
The breadth of the market favoured declines, with 742 stocks advancing, 954 declining and 369 remaining unchanged. On BSE, 1055 stocks advanced, 1428 declined and 139 remained unchanged.
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
