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Last Updated : May 11, 2018 12:40 PM IST | Source: Moneycontrol.com

Market update: Midcaps gain led by HPCL, Biocon; Idea falls 7%, Bharti Airtel sheds 4%

126 stocks hit a new 52-week low. These included names like Ajanta Pharma, Ambuja Cements, Amtek Auto, Can Fin Homes, HUDCO, Indo Count Industries, Idea Cellular, Mahanagar Gas, OBC, Power Finance Corporation, PNB, Rural Electrification Corporation, Strides Shasun and Union Bank.

The equity market was trading on a positive note on Friday afternoon. The Nifty is up 33 points at 10,750 levels and the Sensex is trading 79 points higher, or up 0.23 percent.

The Nifty Midcap index was up half a percent led by stocks like Hindustan Petroleum Corporation (HPCL), India Cements, Voltas, Unitech, Petronet LNG and Biocon. However, Just Dial was trading four percent lower followed by IFCI and GMR Infrastructure.

The Bank Nifty has managed to stay in the green led by ICICI Bank (up one percent) and Bank of Baroda (up over two percent). Kotak Mahindra Bank and Federal Bank were the other gainers. Punjab National Bank was trading lower by 2.5 percent in afternoon trade.

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Telecom stocks were weak, with Idea Cellular shedding seven percent, Bharti Airtel down close to five percent and Reliance Communications down a percent.

CNX Energy was trading in the green, including oil & gas stocks. HPCL jumped four percent and Bharat Petroleum Corporation (BPCL) and Indian Oil Corporation (IOC) added 1-2 percent each in afternoon trade. Reliance Industries was up 0.6 percent.

From the pharma space, Aurobindo Pharma and Sun Pharmaceutical Industries jumped two percent each. Cadila Healthcare and Glenmark Pharmaceuticals were the other losers.

The metal index continues to shine with stocks like Hindustan Copper jumping over four percent and Jindal Steel & Power gaining three percent. Tata Steel and JSW Steel were the other gainers.

The top Nifty gainers were Asian Paints, which jumped five percent, followed by HPCL, BPCL and Indiabulls Housing Finance which added 2-3 percent. UPL was the other gainer, up over a percent.

The most active Nifty stocks include PC Jeweller, down close to two percent, and Bharti Airtel down four percent. Titan Company, Asian Paints and Tata Consultancy Services were the other active stocks.

The top BSE gainers included Mahindra Lifespace, which jumped close to nine percent, Sharda Cropchem, Nestle India, Asian Paints and Welspun India.

The top BSE losers included names like Idea Cellular and Indiabulls Ventures, which dipped seven percent each. Bharti Airtel and RattanIndia Power also dragged.

Asian Paints, Cyient, Mphasis, Nestle India and Ujjivan Financial were some of the stocks that hit fresh 52-week highs in afternoon trade.

On the other hand, 126 stocks hit a new 52-week low. These include: Ajanta Pharma, Ambuja Cements, Amtek Auto, Can Fin Homes, HUDCO, Indo Count Industries, Idea Cellular, Mahanagar Gas, Oriental Bank of Commerce, Power Finance Corporation, Punjab National Bank, Rural Electrification Corporation, Strides Shasun and Union Bank.

The market breadth favoured declines with 748 stocks advancing, 907 declined and 385 remaining unchanged. On the BSE, 1,095 stocks advanced, 1,273 declined and 128 remained unchanged.

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd

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First Published on May 11, 2018 12:24 pm
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