Moneycontrol
Last Updated : Aug 27, 2018 03:02 PM IST | Source: Moneycontrol.com

D-Street Buzz: Bulls charge ahead with PSU banks outperforming; ICICI Bank jumps 3%, RIL hits new record high

53 stocks are trading at new 52-week high including names like Axis Bank, Bajaj Finance, Dabur India, Divis Labs, GSK Pharma, Glenmark Pharma, Havells India, JSW Steel, Reliance Industries, Mphasis and VIP Industries among others.

Sandip Das @Im_Sandip1
 
 
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The Indian market is in complete control of the bulls with the Sensex and Nifty hitting new record highs. The Nifty50 jumped 118 points and is trading at 11,675 while the Sensex zoomed 413 points at 38,664.

Banking stocks continues to rally the most with the PSU bank index adding 2.5 percent led by State Bank of India which is up 3 percent followed by Bank of Baroda, Canara Bank, Bank of India, Punjab National Bank and Union Bank of India.

From the private banking space, ICICI BankYES BankKotak Mahindra Bank, RBL Bank and Axis Bank are the top performers.

Nifty metal index has also added over a percent led by MOIL which zoomed 10 percent while Jindal Steel & Power and Hindalco Industries jumped 3 percent each. These are followed by NALCO, NMDC, SAIL and Tata Steel.

Hindalco Industries, ICICI Bank, Power Grid, State Bank of India and Grasim Industries are the top gainers on the Nifty.

The most active stocks include ICICI Bank, State Bank of India, Reliance Industries, HDFC Bank and Sun Pharma.

The top BSE gainers are Adani Transmission which spiked 11 percent while Jindal Saw, MOIL, REC and PFC are the other gainers.

53 stocks are trading at new 52-week high including names like Axis Bank, Bajaj Finance, Dabur India, Divis Labs, GSK Pharma, Glenmark Pharma, Havells India, JSW Steel, Reliance Industries, Mphasis and VIP Industries among others.

The breadth of the market favoured advances, with 1097 stocks advancing, 600 declining and 388 remaining unchanged. On BSE, 1518 stocks advanced 1004 declined and 168 remained unchanged.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
First Published on Aug 27, 2018 12:54 pm
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