Finance Update

D-Street Buzz: Midcaps rise led by JSPL; Tata Motors jumps 3%, Maruti gains


The Indian benchmark indices continues to trade in the green but is off the high point of the day with Nifty50 up 18 points, trading at 11,588 while the Sensex has gained 56 points, trading at 38,602.

Midcap stocks are buzzing with gains from Apollo Hospitals, Adani Power, Bharat Forge, Balkrishna Industries, IDBI Bank, Divis Labs, Indiabulls Ventures, Jubilant Life Sciences, NALCO, PAGE Industries, PNB Housing, Power Finance and Torrent Power among others.

From the auto space, the top gainers are Ashok Leyland, Mahindra & Mahindra, Bharat Forge, Tata Motors, Motherson Sumi Systems and MRF.

Metal stocks are also up led by Jindal Steel & Power which spiked 9 percent followed by NMDC, NALCO, JSW Steel, SAIL, Tata Steel and Vedanta.

Selective pharma stocks are also buzzing led by Aurobindo Pharma, Piramal Enterprises, Lupin, Dr Reddy’s Labs, Divis Labs and Cadila Healthcare.

Nifty Infra added a percent with gains from Bharat Heavy Electricals and Adani Power which jumped 4 percent each followed by Container Corp, NBCC, NTPC, Siemens, Reliance Infra and Tata Power.

From the BSE smallcap space, the top gainers are JK Agri Genetics which zoomed 20 percent followed by Sterling Tools, Schneider Electric and Adani Gas.

The top Nifty gainers include Vedanta, Tata Motors, JSW Steel, Maruti Suzuki and Tata Steel while Bharti Infratel, GAIL India, IndusInd Bank, Bajaj Auto and Axis Bank traded in the red.

The most active stocks are Maruti Suzuki, YES Bank, SBI Life and Indiabulls Housing Finance.

ICICI Bank, Future Lifestyle Fashions, DCB Bank, IDFC First Bank, IPCA Laboratories, Mahanagar Gas, Muthoot Finance, Oriental Bank of Commerce, Varun Beverages, RBL Bank, Godfrey Phillips, Adani Gas, Havells India, Petronet LNG and Power Finance Corporation have hit 52-week high on NSE.

The breadth of the market favoured the advances with 967 stocks advancing and 700 declining while 418 remained unchanged. On the BSE, 1308 stocks advanced, 1005 declined and 161 remained unchanged.

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




Source

Prakash Poojary
Business Analyst

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