Market Update: IT stocks gain led by Infosys, KPIT Tech; Tata Motors fall 7%, hits fresh 52-week low

The market was trading on a positive note on Thursday morning, with the Nifty up 23 points at 10,453 and the Sensex gaining 120 points at 34,465.

Nifty IT was up over 1.5 percent led by KPIT Tech, Infosys, HCL Tech, Tata Consultancy Services and Tech Mahindra.

Oil & gas stocks were weak with HPCL, ONGC and BPCL down 2-3 percent while GAIL India and Indian Oil Corporation fell 1 percent each. Reliance Industries was however up half a percent in the morning trade.

Nifty Auto was lower by 1.5 percent dragged by Tata Motors which fell over 7 percent while Bharat Forge shed 3 percent. Apollo Tyres, Motherson Sumi Systems and TVS Motor Company were the other losers.

The top gainers among Nifty constituents were Infosys, HCL Technologies, Tech Mahindra, Tata Consultancy Services and HDFC.

The most actively traded stocks on the NSE were Tata Motors and Jet Airways which dipped 7-9 percent while PC Jeweller, Vedanta and State Bank of India were the other active stocks.

Some of the top gainers on BSE were Kaveri Seed Company, Eros International Media, Sobha, L&T Infotech and Sharda Crop.

The top losers on BSE were Jet Airways, GE T&D, PC Jeweller, Tata Motors and Tata Motors DVR.

Britannia Industries, KPIT Technologies, NELCO and Welspun Enterprises were some of the stocks that hit fresh 52-week highs in morning trade.

On the other hand, 85 stocks hit a new 52-week low. These include ABB, ACC, Adani Power, Bharat Heavy Electricals, Bharat Petroleum Corporation, Capital First, Castrol India, Ceat, Century Textiles, Chennai Petro, HPCL, IDFC Bank, Power Finance Corporation, Tata Motors, UltraTech Cement and Vakrangee among others.

The breadth of the market favoured declines, with 716 stocks advancing, 854 declining and 463 remaining unchanged. On BSE, 884 stocks advanced, 905 declined and 100 remained unchanged.

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