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Market Update: Nifty IT outperforms led by Tech Mahindra; Rcom jumps 4%, PSU banks drag

The breadth of the market favoured advances, with 863 stocks advancing, 746 declining and 430 remaining unchanged. On BSE, 1102 stocks advanced, 845 declined and 82 remained unchanged.
May 29, 2018 / 10:20 AM IST

The broader are trading flat this Tuesday morning, with the Nifty flat at 10,688 and the Sensex shedding 13 points at 35,152.

Nifty IT was the outperforming sector in the morning trade led by stocks like Tata Elxsi, Mindtree, Tech Mahindra and HCL Technologies.

Nifty infra was up 1 percent as stocks like Reliance Communications jumped 4 percent followed by Bharat Heavy Electricals, Idea Cellular, Larsen & Toubro, Adani Power and Adani Ports.

PSU banks were the biggest underperformers dragged by Bank of India, Andhra Bank, Oriental Bank of Commerce and Union Bank of India while heavyweights like State Bank of India and Punjab National Bank were the other losers.

From the auto space, TVS Motor Company, Maruti Suzuki India, Ashok Leyland and Tata Motors were the top performers.

The top gainers among Nifty constituents were Larsen & Toubro, GAIL India, Lupin, Maruti Suzuki and Adani Ports.

The most actively traded stocks on the NSE were L&T, Vedanta, Just Dial, Strides Shasun and Aurobindo Pharma.

Some of the top gainers on BSE were Uflex, Indiabulls Ventures, NIIT, Hindustan Copper and Radico Khiatan.

The top losers on BSE were Just Dial, Kwality, Bank of India Balrampur Chini and NLC India.

Berger Paints, Avenue Supermarts, Edelweiss Financial Services, Hexaware Tech, Pidilite Industries and Radico Khaitan were some of the stocks that hit fresh 52-week highs in morning trade.

On the other hand, 28 stocks hit a new 52-week low. These include Cox & Kings, Bharti Infratel, Vakrangee and VA Tech Wabag among others.

The breadth of the market favoured advances, with 863 stocks advancing, 746 declining and 430 remaining unchanged. On BSE, 1102 stocks advanced, 845 declined and 82 remained unchanged.
Sandip Das
first published: May 29, 2018 10:20 am

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