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Last Updated : Jul 18, 2018 10:40 AM IST | Source: Moneycontrol.com

D-street Buzz: Metal, auto, midcap underperform; PNB, IOB, Andhra Bank gain up to 13% on capital infusion

Bajaj Finserv, Berger Paints, HDFC Bank, Seamec and Nestle are some of the very few stocks that hit fresh 52-week high in the morning trade on the NSE.

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The Indian benchmark indices trading on a positive note today morning with Sensex hitting record high and the Nifty is comfortably trading above 11,000 mark

Share price of PNB, IOB, Andhra Bank, Corporation Bank and Allahabad Bank reacted positively on the government capital infusion plan.

Under the plan, these 5 PSU banks will get capital infusion from government of Rs 11,336 crore as part of its Indradhanush scheme, which was unveiled in 2015.

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Among the sectors, Nifty IT is up 0.5 percent leading by Tata Elxsi up nearly 2 percent while HCL Tech, Mindtree, Tech Mahindra, Wipro, Infosys are the other gainers.

On the other hand, Nifty metal index was down 0.7 percent. Hindalco, Jindal Steel, Vedanta, Tata Steel, SAIL and NALCO are the major losers in the sector.

Midcap space underperform the major index with nearly 0.5 percent cut, leading by Ashok Leyland down 4 percent, Adani Power, Indian Bank, Bank of India, Bharat Forge are other losers.

In the smallcap space, 8K Miles Soft gained 6 percent, Arrow Greentech up 5 percent and Career Point up 2 percent.

ONGC, Adani Ports, Sun Pharma, HDFC Bank and Bajaj Auto are the top gainers on the Sensex, while losers are Bharti Airtel, Vedanta, HUL, Tata Steel and ICICI Bank.

Bajaj Finserv, Berger Paints, HDFC Bank, Seamec and Nestle are some of the very few stocks that hit fresh 52-week high in the morning trade on the NSE.

The breadth of the market favoured advances, with 858 stocks advancing, 684 declining and 508 remaining unchanged. On BSE, 929 stocks advanced, 678 declined and 66 remained unchanged.

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First Published on Jul 18, 2018 10:04 am
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