Moneycontrol
Last Updated : Oct 29, 2018 02:31 PM IST | Source: Moneycontrol.com

D-Street Buzz: Union Bank, Canara Bank jump 11% as PSU banks rally; Indiabulls Housing spikes 10%

PSU banks are rallying with the index zooming 8 percent led by Canara Bank, OBC, Union Bank of India, State Bank of India, Bank of India, PNB, Indian Bank and Vijaya Bank.

Sandip Das @Im_Sandip1

The Indian stock market is witnessing some robust gains in this afternoon session with the Nifty50 up 145 points, trading at 10,175 while the Sensex is up 494 points at 33,843.

PSU banks are rallying with the index zooming 8 percent led by Canara Bank, OBC, Union Bank of India, State Bank of India, Bank of India, PNB, Indian Bank and Vijaya Bank.

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, Piramal Enterprises and Aurobindo Pharma.

Nifty midcap has jumped over 3.5 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 led by Reliance Industries, GAIL India and ONGC.

From the BSE smallcap space, the top gainers are HBL Power, Sesha Sayee Paper and Vikas Eco Tech 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 Mphasis, Dalmia Bharat and Tata Power.

The top gainers from NSE include ICICI Bank, Indiabulls Housing Finance, State Bank of India, Adani Ports and Axis Bank.

The top losers include IndusInd Bank, Kotak Mahindra Bank, HDFC Bank, Bharti Airtel 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, 138 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 1305 stocks advancing, 430 declining and 332 remaining unchanged. On BSE, 1744 stocks advanced, 705 declined and 138 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 02:31 pm
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