The Nifty and the Sensex continued their respective bull run in the afternoon trade hitting fresh record highs. The Nifty50 zoomed close to 100 points, trading at 10435.85 while the Sensex jumped 377 points at 33590.
Bank Nifty was the outperforming sector with the index gaining 1.87 percent led by ICICI Bank which jumped 4.65 percent while State Bank of India and Axis Bank were the other top gainers. Bank of Baroda was up over 2 percent while PNB gained 2 percent.
The top gainers from the Nifty were Bharti Airtel which zoomed close to 9 percent while ICICI Bank added 4.5 percent. SBI, Axis Bank and Vedanta were the other top Nifty gainers. One of the most active stocks in the index apart from Bharti Airtel, Axis Bank and ICICI Bank was Reliance Industries.
From the BSE index, the top gainers included Syndicate Bank which zoomed over 9 percent followed by Bharti Airtel, Religare Enterprises, Sanofi and Cholamandalam Investment.
The stocks that hit fresh 52-week high on the NSE included, Bharti Airtel, Bata India, DHFL, Emami, Godrej Properties, GSFC, GVK Power, ICICI Bank and Voltas. From the BSE, the stocks which hit new 52-week high were OCL India, Mahanagar Gas, Weizmann Forex, Automotive Axle, Raymond and Bata India.
In the Nifty index 117 stocks hit fresh 52-week high while on the BSE, 117 stocks hit new 52-week high.
The market breadth was strong with 1124 stocks advancing while 518 declined. On the BSE, 1588 stocks advanced while 680 declined.
Global research firm UBS has maintained a buy on Dabur India with a target of Rs 400 while Macquarie has an outperform rating on the stock with target of Rs 369.
Technical Analyst Ashwani Gujral of ashwanigujral.com, has recommended a buy on GMR Infra with a stop loss of Rs 17, target of Rs 25 and a buy on Raymond with a stop loss of Rs 920 for target of Rs 945.
Mitessh Thakkar of miteshthacker.com has a buy on Dabur India with a stop loss of Rs 325 for target of Rs 350.Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd