Market Update: PSU banks rally led by SBI, PNB; Infosys jumps over 3%, Voltas hits 52-week high

November 16
19:05 2017
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The Nifty as the as the Sensex continued to rally on Thursday afternoon with the Nifty gaining over 67 points or 0.67 percent while the Sensex jumped 258 points at 33018.

The Nifty midcap index was trading in the green, up almost 1 percent led by Allahabad Bank, Bank of India, Canara Bank, GMR Infra, Jain Irrigation and Just Dial.

Bank Nifty was also trading in the positive territory, up 0.67 percent led by Punjab National Bank which jumped 4.5 percent followed  by State Bank of India, Bank of Baroda and Bank of India .

CNX PSU Bank jumps 2.56 percent led by PNB, Oriental Bank of Commerce, Canara Bank and Allahabad Bank.

From the Nifty, the stocks that gained the most were Infosys was up over 3 percent, followed by Bharti Infratel which gained 3.47 percent while State Bank of India gained 2.11 percent. Aurobindo Pharma and Tata Consultancy Services were the other top gainers.

The most active stocks were Reliance Capital which fell close to 3 percent while HDFC, State Bank of India, RIL and Infosys were the other most active stocks.

From the BSE, the stocks that gained the most included Rattan India which zoomed over 11 percent while Religare Enterprises jumped close to 10 percent. Page Industries, Hindustan Copper and Firstsource Solutions were the other top Sensex gainers.

44 stocks that hit new 52-week high on NSE including Emami, Jubilant Foodworks, Page Industries, Nucleus Software, Saregama India and Tata Global Beverage among many other stocks.

From the BSE, the stocks that hit fresh 52-week high were Eldeco Housing, BASF India, Automotive Axle and Voltas were some of the stocks which hit fresh 52-week high.

The market breadth was in favour of the advances on Thursday afternoon with 1090 stocks advancing as against 555 declines. On the other hand, 1601 stocks advanced and 968 stocks declined on the BSE.

Global reserach firm Deutsche Bank has tagged a buy on Jubilant Foodworks with a target of Rs 1,775 per share while CLSA has a buy call on Jubilant Food as well with a target of Rs 2,200 per share.

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

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