D-Street Buzz: PSU banks gain led by Bank of India; ICICI Bank jumps 2%, IT drags

The Indian stock market continues to hold on to the respective morning gains with the Nifty50 up 37 points, trading at 10677 while the Sensex was up 131 points and was trading at 35,630 mark.

Nifty Realty was the outperforming sector, up 2 percent led by gains from Prestige Estates, DLF, Sunteck Realty, Unitech, Brigade Enterprises and Sobha.

PSU banks have also advanced led by Bank of India, Vijaya Bank, Bank of Baroda, Canara Bank, Indian Bank, PNB, State Bank of India and Syndicate Bank.

Selective midcap stocks were also buzzing in this afternoon session with gains from Apollo Tyres, Castrol India, Century Textiles and Industries, Cholamandalam Investment, GMR Infra, M&M Financial Services, PFC, REC and Tata Chemicals among others.

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From the metal space, the top gainers were Hindalco Industries, NALCO, SAIL, Tata Steel, Vedanta and Hindustan Copper.

However, Nifty IT was underperforming dragged by Infosys, TCS, Tech Mahindra, KPIT Tech and Wipro.

From the BSE midcap space, the top gainers were Emami which zoomed 14 percent followed by GMR Infra, Bank of India, IDBI Bank, JSW Energy and Indian Bank while from the BSE smallcap space, the top gainers were Tourism Finance Corporation, Ujjas Energy and Ansal Properties.

The top gainers from NSE included Vedanta, Bharti Airtel, ICICI Bank, BPCL and Grasim Industries while the top losers included NTPC, Infosys, TCS, Dr Reddy’s Labs and Tech Mahindra.

The most active stocks were TCS, ITC, Infosys, YES Bank and Dr Reddy’s Labs.

Balrampur Chini Mills, SKF India and TCNS Clothing have hit new 52-week high in this afternoon session.

155 stocks have hit new 52-week low on the NSE including names like Bharat Bijlee, Clariant Chemicals, LT Food, Dena Bank, Firstsource Solutions, Indo Count Industries, GNFC, Mirza International, Punj Lloyd, Tata Coffee and Welspun India among others.

The breadth of the market favoured the advances with 1078 stocks advancing and 555 declining while 426 remained unchanged. On the BSE, 1342 stocks advanced, 834 declined and 120 remained unchanged.

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

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First Published on Feb 19, 2019 12:18 pm

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