Market Now: Equity benchmarks cautious; these stocks plunge over 7%

NEW DELHI: Shares of Zodiac JRD (down 8.96 per cent), Jaiprakash Power Ventures (down 8.04 per cent) and Automotive Stampings and Assemblies (down 7.10 per cent) cracked over 7 per cent on NSE in morning trade on Tuesday.

Stocks such as Gujarat State Petronet (down 6.14 per cent), Cipla (down 5.78 per cent) and Bil Energy Systems (down 5.26 per cent) declined over 5 per cent on NSE.

Indian equity market benchmarks opened lower amid weak global cues. Investors were cautious before the long-term capital gains tax on stocks and mutual fund units comes into effect on April 1.


However, gains in select metal, auto, IT and bank stocks moved markets a little up.

The Nifty50 index was 16 points up at 10,110, while the BSE Sensex was 60 points up at 32,983 around 10 am (IST).

With a gain of over 4 per cent, shares of Bharti Infratel were leading the pack of gainers in the Nifty index.

Tata Steel, Vedanta and Hindustan Petroleum Corporation were also among the top gainers in the Nifty pack of stocks.

On the contrary, NTPC, Mahindra & Mahindra and Aurobindo Pharma were among the top losers in the Nifty index.