Market Update: PSU banks outperform post RBI policy; Airtel top gainer, RCom jumps 11%
The breadth of the market favoured advances, with 1095 stocks advancing, 630 declining and 330 remaining unchanged. On BSE, 1525 stocks advanced, 1048 declined and 127 remained unchanged.
June 06, 2018 / 15:12 IST
With The Reserve Bank of India hiking the repo rate by 25 basis points to 6.25 percent, the broader indices are trading on a positive note this Wednesday afternoon with the Nifty trading higher by 94 points at 10,687 and the Sensex gained 293 points at 35,200.
Bank Nifty was up in the green post the RBI policy led by HDFC Bank, ICICI Bank and Yes Bank. However, Punjab National Bank, State Bank of India and RBL Bank were trading in the green.
Realty stocks are buzzing in the afternoon trade but came off the high point of the day led by stocks like Indiabulls Real Estate, Phoenix Mills, Oberoi Realty and Godrej Properties.
Nifty PSU bank was the outperforming sector, up over 2 percent led by stocks like State Bank of India, Punjab National Bank, Union Bank of India, Allahabad Bank, Canara Bank and Syndicate Bank among others.
The top gainers among Nifty constituents were Titan Company, Bharti Airtel, Tata Motors, HCL Tech and Sun Pharma.
The most actively traded stocks on the NSE were PC Jeweller, Tata Motors, Biocon, Vedanta and HDFC Bank. Some of the top gainers on BSE were Avanti Feeds, Reliance Communications, RCF, Himachal Futuristic and NLC India.
Green Fire Agri Commodities, Reliance ETF and DSP Blackrock were the only stocks that hit fresh 52-week highs in the afternoon trade.
On the other hand, 255 stocks hit a new 52-week low. These include Aban Offshore, BEML, GSFC, HAL, HDIL, JK Lakshmi Cement, JK Tyre, Kwality, Suzlon and Unitech among others.
The breadth of the market favoured advances, with 1095 stocks advancing, 630 declining and 330 remaining unchanged. On BSE, 1525 stocks advanced, 1048 declined and 127 remained unchanged.
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