D-Street Buzz: PSU banks gain led by PNB; Zee Entertainment jumps 3%, Jet Airways tanks 6%

The Indian stock market were trading on a positive note in this Wednesday morning session with the Nifty50 up 33 points, trading at 10,920 while the Sensex jumped 123 points and was trading at 36,441.

Nifty PSU Bank was up 1 percent led by PNB, Indian Bank, Canara Bank, Bank of Baroda, Oriental Bank of Commerce, Syndicate Bank and Union Bank of India.

Media stocks were also buzzing led by Zee Entertainment which jumped 3 percent after company reported strong numbers for the quarter ended December 2018 (Q3FY19). This was followed by Dish TV, EROS International Media and Network18.

From the metal space, the top gainers were Hindustan Copper, JSPL and Tata Steel.

Aviation major Jet Airways tanked 7 percent on Etihad Airways' offer to invest in co at Rs 150 apiece.

Apollo Hospitals Enterprise, Info Edge (India), Sakuma Exports and SKF India have hit new 52-week high in this morning session.

24 stocks have hit new 52-week low including names like ABG Shipyard, Orchid Pharma, Sharda Motor Industries, Tara Jewels and LEEL Electricals among others.

The breadth of the market favoured the advances with 986 stocks advancing and 511 declining while 557 remained unchanged. On the BSE, 1082 stocks advanced, 554 declined and 65 remained unchanged.

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

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