Market Update: Realty stocks gain led by Prestige Estates; Cipla top gainer, oil & gas stocks drag
The broader indices including the Nifty and the Sensex have managed to trade in the positive territory this Wednesday morning with the Nifty up 23 points at 10,733 and the Sensex is trading higher by 88 points at 35,375.
Nifty realty is the top performing sector led by stocks like Indiabulls Real Estate, DLF, Prestige Estates and Pheonix Mills among others.
Nifty auto is trading in the green led by Mahindra & Mahindra which is up 1 percent while Maruti Suzuki added half a percent. However, Apollo Tyres is trading lower by over 2 percent.
From the banking space, Axis Bank is up 1 percent while HDFC Bank and RBL Bank are the other gainers.
Oil & gas stocks are trading in the red with BPCL, HPCL, GAIL India, ONGC and Indian Oil Corporation being the top losers. Reliance Industries is up half a percent in the morning trade.
From the FMCG space, Tata Global Beverage is trading lower by almost 3 percent whereas Dabur India and United Breweries added up to 0.5 percent.
Individual pharma names are up led by Cipla which jumped over 2 percent followed by Aurobindo Pharma, Lupin and Glenmark Pharma.
The top gainers among Nifty constituents were Cipla, Axis Bank, Zee Entertainment, Vedanta and Mahindra & Mahindra.
The most actively traded stocks on the NSE were Cipla, Just Dial, TCS, ICICI Bank and JP Associates.
The top losers included UPL, IOC, GAIL India, HPCL and ONGC.
Some of the top gainers on BSE were Vakrangee, Just Dial, GHCL, Indiabulls Ventures and Nava Bharat Ventures.
Bajaj Finance, Merck and Tata Elxsi were the few stocks that hit fresh 52-week highs in the morning trade.
On the other hand, 55 stocks hit a new 52-week low. These include Can Fin Homes, HCC, Jain Irrigation Systems, Shree Cement, Tata Power and UPL among others.
The breadth of the market favoured advances, with 918 stocks advancing, 626 declining and 493 remaining unchanged. On BSE, 995 stocks advanced, 706 declined and 80 remained unchanged.
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
[“Source-moneycontrol”]