Market Update: RIL maintains 2% gain as 94 stocks hit new 52-week low; RCom jumps 5%

The broader indices including the Nifty and the Sensex extended the morning gains this Wednesday afternoon with the Nifty up 50 points at 10,761 and the Sensex is trading higher by 210 points at 35,497.

Selective midcap stocks are buzzing including names like CG Power, Bharat Financial Inclusion, Bata India, Biocon, JP Associates, Jain Irrigation, Just Dial and Voltas.

Nifty Energy is up 1 percent as Reliance Industries jumped over 2 percent and Reliance Infra spiked 4 percent. On the other hand, BPCL, HPCL, IOC and ONGC traded lower.

From the banking space, Axis Bank is up 1 percent while HDFC Bank, Federal Bank, IDFC Bank, IndusInd Bank, RBL Bank and Yes Bank are the other gainers.

From the auto space, Ashok Leyland, Maruti Suzuki, Exide Industries and Tata Motors are some of the top gainers.

Nifty metal is also trading in the green as JSPL, JSW Steel, Vedanta and Steel Authority of India are up 1-2 percent.

The top gainers among Nifty constituents were Vedanta, Reliance Industries, Zee Entertainment, Yes Bank and IndusInd Bank.

The most actively traded stocks on the NSE were Reliance Industries, Cipla, TCS, ICICI Bank and Vedanta.

The top losers included UPL, IOC, Coal India, HPCL and ONGC.

Some of the top gainers on BSE were Jai Corp, Reliance Communications, Vakrangee, Kwality and Indiabulls Ventures.

Bajaj Finance, Bata India, GSK Pharma, Mahindra CIE, Mahindra Logistics, Merck and Tata Elxsi were the few stocks that hit fresh 52-week highs in the afternoon trade.

On the other hand, 94 stocks hit a new 52-week low. These include Ambuja Cements, Bank of Baroda, HAL, Can Fin Homes, HCC, India Cements, NBCC, Jain Irrigation Systems, Shree Cement, Tata Power and UPL among others.

The breadth of the market favoured advances, with 898 stocks advancing, 774 declining and 376 remaining unchanged. On BSE, 1274 stocks advanced, 1199 declined and 156 remained unchanged.

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