Market Now: These stocks are down 5% despite bullish market

NEW DELHI: Shares of Lanco Infratech (down 5.56 per cent), MSP Steel (down 4.58 per cent), Nelcast (down 4.43 per cent), Sanwaria Agro (down 4.42 per cent), Uniply Ind (down 4.34 per cent) and Nath Bio-Genes (down 4.21 per cent) plunged over 4 per cent on NSE despite bullish market sentiment on Thursday.

Other stocks that were trading in the negative included Parsvnath Developers (down 3.68 per cent), Indian Oil Corp (down 3.45 per cent), Srikalahasthi Pipes (down 3.41 per cent), Electrosteel (down 3.33 per cent), Alok Industries (down 3.28 per cent), Castex Tech (down 3.23 per cent), Prestige Estate (down 2.99 per cent) and Monnet Ispat (down 2.86 per cent).

The overall market remained positive in anticipation of an RBI rate cut after positive inflation data.

Asian peers also did well after the US Federal Reserve chief Janet Yellen hinted at a gradual approach to raising interest rates.

Over 85 companies hit their fresh 52-week high on NSE, whereas 16 stocks hit their fresh 52-week low.

On the sectoral front, buying was visible in FMCG, realty, banking and auto shares while metal and PSU bank shares were facing the heat of selling pressure.

Benchmark Nifty50 index was 70 points up at 9,885, while the 30-share Sensex was 257 points up at 32,061 around 2 pm (IST).

In the Nifty50 pack, 40 stocks were trading in green, while 11 stocks were in red.
On BSE, 1,366 stocks were advancing whereas 1,222 stocks were lagging.

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