Market : Nifty pharma outperforms led by Cadila Health; Idea tanks 6%, Tata Motors top loser

The broader indices including the Nifty and the Sensex are trading on a flat to negative note this Monday morning with the Nifty down 14 points at 10,807 and the Sensex is trading lower by 62 points at 35,628.

Nifty pharma outperforms led by Cadila Healthcare, Glenmark Pharma, Lupin and Sun Pharma.

Nifty auto is down almost 1 percent dragged by Tata Motors, Tata Motors DVR, Motherson Sumi Systems, Amara Raja Batteries and Hero MotoCorp among others.

Bank Nifty is trading weak with stocks like Axis Bank, ICICI Bank, Bank of Baroda, Punjab National Bank and State Bank of India shedding up to 1 percent each.

Nifty energy is also in the red dragged by Bharat Petroleum Corporation, Hindustan Petroleum Corporation, IOC and NTPC among others.

From the FMCG space, Emami shed over 2 percent while ITC, Proctor & Gamble and United Spirits are the other losers.

Idea Cellular from the telecom space is down over 6 percent after news of Idea-Voda merger may get delayed as DoT readies fresh demand of Rs 4,700 crore.

The top gainers among Nifty constituents were Vedanta, UltraTech Cement, Infosys, Bajaj Finance and Sun Pharmaceutical Industries.

The most actively traded stocks on the NSE were Sun Pharma, Bajaj Finance, HDFC, Infosys and Tata Motors.

The top losers included Tata Motors, BPCL, NTPC, IOC and ITC.

Some of the top gainers on BSE are PNB Housing Finance which zoomed close to 9 percent followed by KEC International, Vakrangee, Sobha and Vedanta.

The top losers included Idea Cellular, Tata Motors DVR, Emami, Tata Motors and Finolex Cables.

Abbott India, Bajaj Finserv, Bajaj Finance, Jubilant Foodworks and Page Industries are few stocks that hit fresh 52-week high in the morning trade.

The breadth of the market favoured declines, with 776 stocks advancing, 827 declining and 466 remaining unchanged. On BSE, 995 stocks advanced, 949 declined and 112 remained unchanged.