Market Update: Nifty metal underperforms as by SAIL, NMDC fall 6%; BEML, IOC hit 52-week low, L&T top gainer

The Indian markets on Monday morning were trading lower with the Nifty shedding 40 points or 0.39 percent  while the Sensex was down 99 points.

Nifty Realty was down 1.4 percent dragged by Unitech which fell 3 percent followed by Delta Corp, DLF, HDIL and Indiabulls Real Estate, each shedding 2 percent.

CNX metal index was down over 2 percent as stocks like SAIL plunged 7 percent while NMDC was down 6 percent. Tata Steel, Jindal Steel & Power and JSW Steel were all trading lower by over 2 percent each.

The top Nifty gainers included Lasren & Toubro which added 1 percent followed by Maruti Suzuki, Mahindra & Mahindra, Tata Consultancy Services and Hindustan Unilever.

The top Nifty losers included IOC which fell close to 4 percent while BPCL, HPCL and Coal India were down over 3 percent.  Tata Steel was trading lower by 2.5 percent.

The most active Nifty stocks included HEG which was up 4 percent while Tata Steel, IDBI Bank, HDFC and Maruti Suzuki were the other active stocks.

The top Sensex gainers were Vakrangee which added 3 percent while Bombay Dyeing and Sintex Industries were the other top gainers.

HEG was one of the few stocks that hit new 52-week high while 57 stocks hit 52-week low including names like AB Capital, AB Fashion, BEML, Cummins India, IOC, Max Financial, NHPC, PFC, REC and Tata Motors.

The market breadth was in favour of the declines with 315 stocks advancing while 1342 declined and 371 remained unchanged. On the other hand, in the BSE, 558 stocks advanced and 1761 declined and 92 remained unchanged.