State Bank of India which jumped 6.55 percent while Larsen & Toubro was up over 4 percent. ICICI Bank, Hindustan Unilever and Mahindra & Mahindra were the other top Nifty gainers from the Nifty.
The Nifty and the Sensex slipped back into the red with the Nifty shedding 24 points while the Sensex was down 47 points. Bank Nifty was up 0.82 percent led by State Bank of India which zoomed close to 6 percent while Bank of Baroda was up 3.93 percent and ICICI Bank added 2.68 percent.
The Nifty midcap index was trading up by 0.33 percent led by Just Dial, MRF, Jaiprakash Associates, SAIL, Unitech and Voltas.
From the Nifty, the stocks that gained the most were State Bank of India which jumped 6.55 percent while Larsen & Toubro was up over 4 percent. ICICI Bank, Hindustan Unilever and Mahindra & Mahindra were the other top Nifty gainers.
The most active stocks included SBI, Tata Motors, Just Dial, Larsen & Toubro and Aurobindo Pharma.
The top Nifty losers were Aurobindo Pharma, Tata Motors, Bosch, BPCL and HPCL.
From the BSE, the stocks that gained the most included Gateway Distriparks which zoomed over 12 percent while Rattan India jumped over 10 percent. Pfizer, Redington and Sobha were the other top Sensex gainers.
60 stocks hit new 52-week high on the NSE including ICICI Bank, Bank of India, Birla Corp, Indraprastha Gas, Jet Airways, Mphasis, Pfizer, Tata Global, Voltas and V-Guard Industries.
From the BSE, the stocks that hit fresh 52-week high were Page Industries, GSK Consumer, Fag Bearings, Britannia Industries, Cera Sanitaryware, Balkrishna Industries and Larsen & Toubro.
The market breadth was in favour of the declines on Friday afternoon with 786 stocks advancing as against 847 declines. On the other hand, 1268 stocks advanced and 1335 stocks declined on the BSE.
Global research firm BofAML has initiated a buy on Britannia Industries with a target price of Rs 5,500, potential upside of 16 percent and expects healthy upward trend in operating income to sustain.
Motilal Oswal has maintained a buy call on Tata Motors with a target of Rs 575 per share and has upgraded consolidated EPS estimates by 23 percent/6 percent for FY18/19.Technical Analyst Ashwani Gujral of ashwanigujral.com has a buy on Balkrishna Industries with a stop loss of Rs 1,890 for target of Rs 1,960 and has a buy on UltraTech Cement as well with a stop loss of Rs 4,400 for target of Rs 4,550.