D-Street Buzz: PNB jumps 3% as PSU banks extend lead; midcaps gain, IT drags

The Indian benchmark indices continues to trade in the green with the Nifty50 up 15 points, trading at 10,687 while the Sensex gained 113 points and was trading at 35,627.

Nifty PSU Bank continued to outperform, up close to 2 percent led by Punjab National Bank, State Bank of India, Bank of Baroda, Union Bank of India, Bank of India, Syndicate Bank and Canara Bank. Axis Bank, RBL Bank and YES Bank were the other gainers.

From the midcap space, the top gainers were Cholamandalam Investment, Dish TV, Reliance Infra, Tata Global Beverage and Torrent Pharma.

However, Nifty IT continued to underperform dragged by Mindtree, KPIT Tech, Tata Elxsi, Tech Mahindra and TCS.

Selective FMCG stocks were down led by Jubilant Foodworks, United Spirits and Godrej Consumer Products.

The top gainers from NSE include Bharti Infratel, Tata Motors, Bharti Airtel, State Bank of India and ONGC while the top losers included Tech Mahindra, Infosys, TCS, Hero MotoCorp and HCL Tech.

The most active stocks were Eicher Motors, Reliance Industries, ICICI Bank, TCS and YES Bank.

SMS Lifesciences have hit new 52-week high in this afternoon session.

48 stocks have hit new 52-week low including names like ABG Shipyard, Ashok Leyland, Bharat Forge, Gateway Distriparks, Rolta India, Tata Steel, Vedanta and Sun Pharma Advanced Research Company among others.

The breadth of the market favoured the declines with 727 stocks advancing and 932 declining while 400 remained unchanged. On the BSE, 1202 stocks advanced, 1251 declined and 158 remained unchanged.

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

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