D-St Buzz: Nifty PSU Bank ends 3% higher, Bharti Airtel jumps 5%, IT stocks close in red

A remarkable recovery on Dalal Street as the Indian benchmark indices have shown some handsome gains with Nifty ending 73 points, trading at 11,222, while the Sensex spiked 227 points and is trading at 37,318.

Nifty PSU Bank surged over 3 percent led by State Bank of India, Bank of Baroda, IDBI Bank, Punjab National Bank and Union Bank of India.

Nifty Pharma along with infra stocks also gained led by Sun Pharma which spiked 5 percent followed by Glenmark Pharma, Cipla and Piramal Enterprises.

From the infra space, the top gainers were Bharti Airtel, BHEL, CG Power, Adani Power, IRB Infra, GMR Infra, Engineers India, Siemens, Reliance Infra, Reliance Power and NCC.

Nifty IT dragged as Infosys, Tech Mahindra, TCS, HCL Tech and Wipro traded in the red.

India VIX was down 1.28 percent at 27.03 levels.

The top Nifty gainers included Indiabulls Housing Finance, Bharti Airtel, Sun Pharma, Vedanta and GAIL India while Tech Mahindra, TCS, Bajaj Finance, HCL Tech and Wipro were the top losers.

The most active stocks were Reliance Industries which jumped  2 percent followed by Tata Steel, YES Bank, SBI and HDFC.

284 stocks hit new 52-week low on NSE including Aban Offshore, ABG Shipyard, Adlabs Entertainment, Ballarpur Industries, Bharat Forge, Bombay Burmah Trading Corporation, Biocon, Bosch, Cadila Healthcare, Ceat, Dabur India, Eicher Motors, Mahindra & Mahindra, Eveready Industries, Graphite India, HCL Infosystems, Hero MotoCorp, IL&FS Transportation Networks and Tata Elxsi among others.

The breadth of the market favoured the advances as 888 stocks advanced and 876 declined while 337 remained unchanged on the NSE. On the BSE, 1221 stocks advanced, 1271 declined and 142 remained unchanged.

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

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