Market Update: Nifty midcap outperforms as Just Dial zooms 15%, IOC, Sun Pharma top gainers

The broader are trading on a positive note this Monday afternoon, with the Nifty up 87 points at 10,692 and the Sensex gaining 258 points at 35,182.

The Nifty midcap index gained 1.5 percent led  by Just Dial which zoomed 15 percent followed by Oriental Bank of Commerce, GMR Infra, Havells India, India Cements, Jain Irrigation, MRF, Power Finance Corporation and Reliance Capital among others.

Oil & gas stocks are buzzing led by sharp fall in oil prices with HPCL and BPCL jumping 5 percent each while Indian Oil Corporation, GAIL India and Indian Oil Corporation were the other gainers.

Nifty pharma jumped 2.5 percent led by Sun Pharmaceutical Industries which zoomed over 6 percent followed by Aurobindo Pharma, Lupin and Dr Reddy's Labs.

Nifty PSU bank was also trading in the green with gains in Bank of India, Andhra Bank Oriental Bank of Commerce, Indian Overseas Bank and Bank of Baroda. Punjab National Bank and State Bank of India were the other gainers.

ICICI Bank, HDFC Bank, Yes Bank and Axis Bank also trading on a positive note in the afternoon trade, each adding over 1 percent.

Among the auto names, Apollo Tyres, Maruti Suzuki, MRF and TVS Motor Company were the top gainers.

However, Nifty IT shed close to 2 percent dragged by Tech Mahindra, Tata Consultancy Services and HCL Technologies.

The top gainers among Nifty constituents were IOC, Sun Pharma, BPCL HPCL and GAIL India were the other gainers.

The most actively traded stocks on the NSE were Just Dial, Sun Pharma, PC Jeweller, Tech Mahindra and TCS.

Some of the top gainers on BSE were Just Dial, Sun Pharma Advanced, Gateway Distriparks, Oriental Bank and Power Finance Corporation.

The top losers on BSE were Mphasis, PC Jeweller, Avanti Feeds, NIIT Tech and Tech Mahindra.

Bajaj Finserv, Britannia Industries, Jubilant Foodworks, Kotak Mahindra Bank, NELCO, Edelweiss Financial Services and Pidilite Industries were some of the stocks that hit fresh 52-week highs in morning trade.

On the other hand, 52 stocks hit a new 52-week low. These include Aban Offshore, Vakrangee, Gammon India and IVRCL among others.

The breadth of the market favoured advances, with 1283 stocks advancing, 420 declining and 356 remaining unchanged. On BSE, 1721 stocks advanced, 749 declined and 145 remained unchanged.