Stock market update: Market in positive territory, but these stocks plunge 5%

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NEW DELHI: Shares of IDBI Bank (down 6.14 per cent), Ankit Metal & Power (down 5.88 per cent), GNFC (down 5.19 per cent), Karnataka Bank (down 5.12 per cent) and Manpasand Beverages (down 5 per cent) plunged 5 per cent on NSE during Friday’s session despite positive market sentiment.

The domestic equity market started Friday’s session with solid gains amid firm global cues.

Buying in heavyweights such as Reliance Industries, HDFC Bank, Infosys and Tata Consultancy Services were keeping the equity benchmarks Sensex and Nifty aloft.

The NSE Nifty index was trading 35 points up at 11,058, while the BSE Sensex was up 163 points at 36,711 around 09:50 am.

Among the sectors on NSE, PSU bank, realty, pharma, media and FMCG were under pressure.

In the Nifty index, 23 stocks were in the green, while 27 stocks in the red.

Wipro, Reliance Industries, Coal India, Infosys and Bajaj Finance were among the top gainers in the Nifty index.

UPL, Bharti Infratel, State Bank of India, ICICI Bank and Axis Bank were among the top losers in the Nifty kitty of stocks.

Source: Economic Times