Moneycontrol
Last Updated : Aug 06, 2018 09:51 AM IST | Source: Moneycontrol.com

D-Street Buzz: Nifty PSU bank up 2% lead by SBI, Bank of Baroda; midcap gains, Titan up 2%

The Nifty PSU bank gained nearly 2 percent led by SBI, Bank of Baroda, Allahabad Bank, Andhra Bank, Canara Bank, Bank of India, OBC, PNB and Union Bank.

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Indian markets hit fresh record highs in morning trade with Sensex rallied over 200 points to hit a record high of 37,791 while Nifty rose above 10,400 for the first time to hit a lifetime high of 11,423.

All the sectoral indices are trading positive, while midcap and smallcap are also trading in line with major indices.

Shares of Titan Company added percent in the early trade on Monday as company reported 31 percent increase in its net profit for the June quarter at Rs 349.2 crore against Rs 266.9 crore during the same quarter of last year.

The company’s revenue rose 8 percent at RS 4,319 crore against Rs 3,992 crore year on year.

The Nifty PSU bank gained nearly 2 percent led by SBI, Bank of Baroda, Allahabad Bank, Andhra Bank, Canara Bank, Bank of India, OBC, PNB and Union Bank.

Metal stocks also buzzing in the morning trade with a gains of 1 percent led by Welspun Corp, SAIL, JSPL, NMDC, Tata Steel, Vedanta and Nalco.

ICICI Bank, Venkys, Jet Airways, SBI and SAIL are the most active shares on BSE.

ICICI Bank, SBI, Tata Steel, Yes Bank, M&M, UPL and Titan Company are the some of the top gainers on the indices.

The breadth of the market favoured advances, with 1202 stocks advancing, 406 declining and 454 remaining unchanged. On BSE, 1332 stocks advanced, 449 declined and 80 remained unchanged.
First Published on Aug 6, 2018 09:49 am
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