The bulls were in control with the Indian markets rallying as the Nifty jumped 87 points at 10,314 while the Sensex was up 272 points.
The Nifty IT index jumped 1.69 percent led by HCL Tech which was up 3 percent while Tech Mahindra, Infosys, Tata Consulltancy Services and Wipro were the other top IT gainers.
The Nifty PSU banking index was however down over 2.5 percent dragged by Andhra Bank which plunged over 12 percent after the Enforcement Directorate filed a charge sheet against a former bank director in an alleged Rs 5,000-crore bank fraud case involving a Gujarat-based pharma firm.
The other top losers included IDBI Bank which feel obver 9 percent followed by Canara Bank, Oriental Bank of Commerce, Bank of India and Union Bank of India which shed up to 9 percent.
From the Nifty the stocks which gained the most were HCL Tech which jumped 3 percent while ITC was up close to 3 percent. Wipro, Infosys and Vedanta were the other top performing stocks.
Chandan Taparia, AVP- Equity Derivatives & Technical at Motilal Oswal Securities has picked up 2 stocks which can yield up to 4% return:
Jubilant Foodworks | Rating: Buy | Target: Rs 2150, stop loss: Rs 2025 | Return: 3%
Tech Mahindra | Rating: Buy | Target: Rs 648, stop loss: Rs 620 | Return: 4%
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