Market Update: Tech Mahindra, HDFC Bank jump 3-4% as 74 stocks hit new 52-week low, CG Power plunges 18%

The broader indices are trading on a positive note this Thursday afternoon with the Nifty up 52 points at 10,666 and the Sensex trading higher by 170  points at 35,076.

Nifty IT outperforms led by Tech Mahindra which jumped over 4 percent followed by Infosys, KPIT Tech and Oracle Financial Services and Wipro.

Bank Nifty was trading in the green as stocks like HDFC Bank jumped 2 percent followed by IndusInd Bank and Kotak Mahindra Bank.

Reliance Communications continued to rally but came of the highs of the day, up 4.5 percent while Adani Ports gained 1 percent.

Among the oil & gas stocks, ONGC was up 2 percent followed by GAIL India, HPCL, BPCL and Reliance Industries.

The Nifty midcap index underperforms dragged by CG Power which shed 18 percent followed by Mcleod Russel, IFCI, JP Associates and Unitech.

The top gainers among Nifty constituents were Tech Mahindra, HDFC Bank, Mahindra & Mahindra, ONGC and Hindustan Unilever.

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

Some of the top gainers on BSE were Sundaram Fasteners, Torrent Pharma, J&K Bank, Supreme Industries and Reliance Commmunications .

Britannia Industries, 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, 74 stocks hit a new 52-week low. These include Aban Offshore, CG Power, Engineers India, Bharti Infratel, Tata Motors, Manpasand Beverages, TCS and Vakrangee among others.

The breadth of the market favoured declines, with 629 stocks advancing, 1076 declining and 347 remaining unchanged. On BSE, 949 stocks advanced, 1633 declined and 135 remained unchanged.

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