Market Update: RIL, ONGC jump 2-4% as oil & gas stocks rally; metals shine led by Hindalco, JSPL

Doubled the investors' wealth

The Indian benchmark indices continue to trade on a positive note this Friday afternoon with the Nifty up 97 points at 10,687 and the Sensex is trading higher by 298 points at 35,336.

Nifty PSU bank is up over 2 percent and is the outperforming sector led by IDBI Bank which zoomed 8 percent while Andhra Bank, Oriental bank of Commerce, State Bank of India, Punjab National Bank, Syndicate Bank, Union Bank of India and Bank of India are the other gainers.

Nifty energy is also up 2 percent with Reliance Industries jumping 2.6 percent while GAIL India, ONGC, BPCL, HPCL and Indian Oil Corporation are the other gainers.

The Nifty midcap index is up 1 percent led by stocks like Ashok Leyland, CESC, Havells India, IDBI Bank, India Cements, IGL, Mcleod Russel, NHPC, Petronet LNG, Power Finance Corporation and Siemens among others.

From the auto space, Bajaj Auto jumped 2 percent while Tata Motors, MRF, Ashok Leyland, Exide Industries and Eicher Motors are the other gainers.

From the FMCG space, Emami is up 4.5 percent while Godrej Industries, Hindustan Unilever, ITC, United Breweries and Proctor & Gamble are the other gainers.

Telecom stocks including Bharti Infratel, Idea Cellular and Reliance Communications added up to 4 percent.

Metal stocks are also buzzing this afternoon led by Hindalco Industries, Jindal Steel & Power, Hindustan Copper, NALCO, NMDC, SAIL and Tata Steel.

The top gainers among Nifty constituents were Hindalco Industries, GAIL India, Titan Company, ONGC and Bajaj Auto which are up 2-3 percent in the afternoon trade.

The most actively traded stocks on the NSE are HDFC Bank, Mahindra CIE, Tech Mahindra, Reliance Industries and ICICI Bank.

The top losers included Tech Mahindra, Dr Reddy's Labs, IndusInd Bank, Mahindra & Mahindra and Sun Pharma.

Some of the top gainers on BSE are IDBI Bank, Religare Enterprises, Rattan India, HCC and Indiabulls Ventures.

The top losers included Jain Irrigation, Dilip Buildcon, Kwality, Sobha and Avanti Feeds.

Britannia Industries, Godrej Industries and Infosys are few stocks that hit fresh 52-week high in the afternooon trade.

On the other hand, 147 stocks have hit new 52-week low including Amtek Auto, BEML, Capital First, Castrol India, IDFC, IL&FS Transport, Jain Irrigation Systems, Kwality, Jet Airways and PTC India among others.

The breadth of the market favoured advances, with 1286 stocks advancing, 408 declining and 369 remaining unchanged. On BSE, 1681 stocks advanced, 677 declined and 118 remained unchanged.

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