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D-Street Buzz: Axis Bank, Yes Bank jump 2-3% as Bank Nifty gains, Time Technoplast zooms 13%

9 July, 2018 8:41 AM
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D-Street Buzz: Axis Bank, Yes Bank jump 2-3% as Bank Nifty gains, Time Technoplast zooms 13%

The breadth of the market favoured advances, with 1224 stocks advancing, 494 declining and 359 remaining unchanged. On BSE, 1681 stocks advanced, 845 declined and 119 remained unchanged.

The Indian benchmark indices continue to trade on a positive note this Monday afternoon with the Nifty adding 77 points and is trading at 10,850 mark. The Sensex is trading higher by 266 points at 35,924.

The Nifty midcap index is up 1.5 percent led by stocks like CESC, GMR Infra, Jain Irrigation Systems, India Cements, JP Associates, Just Dial, NHPC, Reliance Capital, Reliance Infra, Reliance Power, Sun TV and Voltas among others.

Nifty auto is up 1 percent with gains from Bharat Forge, Exide Industries, Mahindra & Mahindra, Tata Motors and TVS Motor Company.

Bank Nifty is also trading handsomely led by Axis Bank, Federal Bank, Yes Bank, Punjab National Bank, State Bank of India and Kotak Mahindra Bank.

The PSU bank index is up close to 2 percent led by State Bank of India, Punjab National Bank, IDBI Bank, Syndicate Bank, Bank of India, Bank of Baroda and Oriental Bank of Commerce among others.

Nifty pharma is also buzzing in the afternoon trade led by Dr Reddy's Labs, Cadila Healthcare, Divis Labs, Cipla, Aurobindo Pharma and Sun Pharmaceutical Industries.

Nifty energy is up over a percent led by HPCL which jumped over 2 percent followed by Reliance Industries, Indian Oil Corporation, GAIL India, BPCL and ONGC.

The top gainers among Nifty constituents were Axis Bank, Yes Bank, Asian Paints, Sun Pharma and Dr Reddy's Labs.

The most actively traded stocks on the NSE are Tata Consultancy Services, Yes Bank, ICICI Bank, DHFL and Manappuram Finance.

Some of the top gainers on BSE are Time Technoplast which zoomed over 13 percent followed by Sterlite Tech, Max Financial, Indocount Industries and Gujarat Pipavav Port.

Alok Industries, Asian Paints, Berger Paints, Mahindra & Mahindra, Page Industries, Tata Elxsi and V-Mart Retail are some of the very few stocks that hit fresh 52-week high in the afternoon trade.

On the other hand, 85 stocks have hit new 52-week low including DEN Networks, Gammon India, Hathway Cable, INOX Wind, JBF Industries and Kwality among others.

The breadth of the market favoured advances, with 1224 stocks advancing, 494 declining and 359 remaining unchanged. On BSE, 1681 stocks advanced, 845 declined and 119 remained unchanged.

Source: moneycontrol.com

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