D-Street Buzz: PSU banks gain led by PNB, ADAG stocks rise after debt payment

The Indian benchmark indices are trading positively with Nifty50 adding 10 points, trading at 11,472 while the Sensex gained 49 points and trading at 38,144.

At 0940 hours, Nifty PSU Bank is up 1 percent led by Punjab National Bank that jumped 2 percent followed by State Bank of India, Bank of India, OBC, Union Bank and Bank of Baroda.

From the pharma space, the top gainers are Sun Pharma, Aurobindo Pharma, Lupin, Divis Labs and Piramal Enterprises.

Selective real estate stocks are also buzzing led by Godrej Properties, Sobha and Oberoi Realty.

However, Nifty Auto is down a percent dragged by Eicher Motors, Hero Moto, Maruti Suzuki and TVS Motor Company.

ADAG stocks are rallying after Reliance Communications cleared the entire dues to Ericsson India after a Supreme Court order.

Reliance Communications jumped 10 percent while Reliance Infra and Reliance Power added 3-4 percent. Reliance Naval jumped 5 percent.

The top Nifty gainers included ONGC, Bharti Infratel, Bharti Airtel, Sun Pharma and GAIL India while the top losers included Eicher Motors, Hero Moto, Bajaj Auto, JSW Steel and Larsen & Toubro.

The most active stocks were Reliance Industries, Mindtree, Just Dial, Jubilant Food and Maruti Suzuki.

Reliance Industries, Axis Bank, Godfrey Phillips, Future Lifestyle, Power Finance Corporation, PVR have hit 52-week high on NSE.

The breadth of the market favoured the advances with 845 stocks advancing and 711 declining while 518 remained unchanged. On the BSE, 940 stocks advanced, 695 declined and 84 remained unchanged.

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