The Nifty Media stocks fell over 2% with loses from Zee Entertainment, Sun TV, TV Today, Network18, EROS International Media and DEN Networks. On the flip side, Hathway, Inox Leisure, and PVR are trading in the positive territory.
Equity benchmark indices slip further in the last hour of the trading session, with the Sensex falling 450 points while Nifty slumped below 11,700 after both the indices hit new highs in early trade.
The stock market trimmed gains in afternoon trade after it opened higher and hit fresh intraday high in mid-morning trade. Positive cues from other Asian markets boosted investors sentiment.
Banking stocks are also trading in the red led by the decline with Nifty Bank index down 1.5%. IndusInd Bank, PNB, SBI, Yes Bank and ICICI Bank fell in the range of 2-3%.
The top Nifty gainers included Bharti Infratel, Dr Reddy's Labs, Reliance Industries, Britannia Industries and Titan Company while the top losers are BPCL, Tata Motors, Zee Entertainment, UltraTech Cement and IOC.
Further, 34 stocks have hit new 52-week high including Adani Ports, Axis Bank, Bajaj Finserv, Bajaj Finance, HDFC, HDFC Bank, Just Dial, Kotak Mahindra Bank, Larsen & Toubro, Muthoot Finance, State Bank of India, Titan Company, UPL, and Siemens, while Fortis Healthcare, Jubilant Life Sciences, Mangalore Refinery and Petrochemicals and Sterlite Technologies hit new 52-week low.