Market Update: Nifty midcap underperforms dragged by CG Power; HDFC Bank, ONGC jump 3%

The broader indices are trading on a positive note this Thursday afternoon with the Nifty up 46 points at 10,659 and the Sensex trading higher by 155 points at 35,061.

Nifty IT outperforms led by Tech Mahindra which jumped over 2 percent followed by Infosys, KPIT Tech and Infibeam.

Bank Nifty was trading in the green as stocks like HDFC Bank jumped 3 percent followed by IndusInd Bank.

Reliance Communications continued to rally but came of the highs of the day, up 5 percent.

Among the oil & gas stocks, ONGC was up 3 percent followed by GAIL India, HPCL and Indian Oil Corporation.

The Nifty midcap index underperforms dragged by CG Power which shed 10 percent followed by Mcleod Russel and Unitech.

The top gainers among Nifty constituents were HDFC Bank and ONGC which jumped over 3 percent followed by Tech Mahindra, Coal India and GAIL India.

The most actively traded stocks on the NSE were HDFC Bank, Dilip Buildcon, Reliance Communications, Reliance Industries and Just Dial.

Some of the top gainers on BSE were GE T&D which jumped 6 percent while RCom, Sundaram Fasteners, J&K Bank and Supreme Industries were the other gainers.

Avenue Supermarts, Godrej Consumer, HDFC Bank, GRUH Finance, Kotak Mahindra Bank, Mahindra & Mahindra and NELCO were some of the stocks that hit fresh 52-week highs in afternoon trade.

On the other hand, 64 stocks hit a new 52-week low. These include Manpasand Beverages, TCS and Vakrangee among others.

The breadth of the market favoured declines, with 661 stocks advancing, 1007 declining and 379 remaining unchanged. On BSE, 992 stocks advanced, 1457 declined and 120 remained unchanged.

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