Moneycontrol
Last Updated : Oct 29, 2018 12:48 PM IST | Source: Moneycontrol.com

D-Street Buzz: Nifty PSU bank zooms 6% led by OBC, SBI; Adani Power jumps 13%, PFC, REC rally

The breadth of the market favoured advances, with 1235 stocks advancing, 456 declining and 374 remaining unchanged. On BSE, 1592 stocks advanced, 698 declined and 141 remained unchanged.

Sandip Das @Im_Sandip1

Despite some subdued trading in the morning session, the Indian benchmark indices are trading on a handsome note with the Nifty50 up 74 points, trading at 10,103 while the Sensex is up 242 points at 33,591.

Nifty pharma is the outperforming sector, up over 4 percent led by Divis Labs which zoomed 14 percent followed by Dr Reddy's Labs, Lupin, Cipla, Sun Pharma and Aurobindo Pharma.

Nifty midcap has jumped over 2.5 percent led by Apollo Hospitals, Balkrishna Industries, Bank of India, Cholamandalam Investment, Divis Labs, Jubilant Foodworks and M&M Financial Services among others.

Oil & gas stocks are also buzzing with Reliance Industries, GAIL India and ONGC adding 2 percent each.

Infra stocks are also up with gains from Container Corporation of India, Adani Ports, Adani Power, Larsen & Toubro, Engineers India, NCC, Reliance Communications, Reliance Infra, Tata Power and Tata Comm among others.

PSU banks are also rallying led by State Bank of India, Union Bank of India, Bank of India, Canara Bank, OBC, PNB, Indian Bank and Vijaya Bank.

From the BSE smallcap space, the top gainers are Sesha Sayee Paper, Marathon Nextgen and Renaissance Jewellery while Supreme Petrochem and HT Media are the top losers.

From the BSE midcap space, the top gainers include Tata Power, Divis Labs, Adani Power and Union Bank. The top losers are Shriram Transport Finance, AU Small Finance Bank and Mphasis.

The top gainers from NSE include ICICI Bank which spiked 8 percent followed by Axis Bank, State Bank of India, Adani Ports and Dr Reddy's Labs.

The top losers include IndusInd Bank, Kotak Mahindra Bank, HDFC Bank, YES Bank and HDFC.

The most active stocks are ICICI Bank, Divis Labs, YES Bank, Axis Bank and SBI.

Divis Labs is one of the few stocks to hit new 52-week high on the NSE.

On the other hand, 129 stocks have hit new 52-week low including names like 3i Infotech, 8K Miles Software, Aban Offshore, HT Media, IndusInd Bank, Infibeam Avenues, Jaiprakash Associates, Punj Lloyd, Reliance Communications, Tata Motors and Videocon Industries among others.

The breadth of the market favoured advances, with 1235 stocks advancing, 456 declining and 374 remaining unchanged. On BSE, 1592 stocks advanced, 698 declined and 141 remained unchanged.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

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First Published on Oct 29, 2018 12:47 pm
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