Moneycontrol
Last Updated : Oct 30, 2018 02:58 PM IST | Source: Moneycontrol.com

D-Street Buzz: PSU banks surge led by Union Bank; Tech Mahindra jumps 3%, media stocks gain

The breadth of the market favoured the advances with 1089 stocks advancing and 603 declining while 364 remained unchanged. On the BSE, 1482 stocks advanced, 985 declined and 136 remained unchanged.

Sandip Das @Im_Sandip1

The Indian benchmark indices continues to remain weak in this afternoon session with the Nifty50 down 36 points, trading at 10,214 while the Sensex shed 92 points at 33,974.

Nifty energy is the biggest drag to the weak market led by BPCL, HPCL, Indian Oil Corporation, Reliance Industries and ONGC.

However, PSU banks are outperforming with the index jumping over 3 percent led by State Bank of India, Bank of India, PNB, Indian Bank, Central Bank of India, Union Bank of India and Vijaya Bank.

IT stocks are also buzzing with gains from Infibeam, Tech Mahindra, Infosys, Tata Elxsi and Mindtree.

Selective media stocks are up led by INOX Leisure, PVR, Zee Entertainment, EROS International and DB Corp.

From the BSE smallcap space, the top gainers are Bank of Maharashtra which zoomed 20 percent followed by Usha Martin and Dhanlaxmi Bank.

From the BSE midcap space, the top gainers include DHFL, Canara Bank and Union Bank of India. The top losers are MRPL, LIC Housing Finance and Mphasis.

The top gainers from NSE include Tech Mahindra, Grasim Industries, Dr Reddy's Labs, Hindustan Unilever and State Bank of India.

The top losers include Cipla, BPCL, HPCL, Coal India and Reliance Industries.

The most active stocks are ICICI Bank, DHFL, Reliance Industries, YES Bank and State Bank of India.

Divis Labs and Varun Beverages are some of few stocks to hit new 52-week high on the NSE.

On the other hand, 67 stocks have hit new 52-week low including names like Bombay Rayon Fashions, Bharat Financial Inclusion, CESC, IndusInd Bank, Intrasoft Technologies and Sagar Cements among others.

The breadth of the market favoured the advances with 1089 stocks advancing and 603 declining while 364 remained unchanged. On the BSE, 1482 stocks advanced, 985 declined and 136 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 30, 2018 02:38 pm
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