Market Update: Maruti, DLF hit 52-week high, GATI jumps over 8%; ICICI Bank down over 1%
The Indian benchmark indices on Monday morning were trading on a positive note with the Nifty up 16.9 points or 0.16 percent while the Sensex gained 80 points at 33422.
CNX Infra was up close to 1 percent led by stocks like Tata Power Company, Larsen & Toubro and Voltas.
The midcap Index was also trading in the green with Biocon jumping close to 5 percent on the back of EIR received from USFDA followed by Mcleod Russel, Havells India, Just Dial and Strides Shasun.
Bank Nifty was trading almost flat with Yes Bank, IndusInd Bank and Bank of Baroda trading on a positive note while ICICI Bank, PNB and State Bank of India were trading in the red.
From the Nifty, the stocks that gained the most were Bharti Infratel which gained 2.25 percent while Yes Bank was up 2.17 percent. L&T, GAIL India and NTPC were the other top gainers.
The most active stocks were HDFC Standard Life Insurance which added over 1.5 percent while Biocon, L&T, DLF and Yes Bank were the other most active stocks.
The top losers were Ambuja Cements, UltraTech Cement, Tech Mahindra, ICICI Bank and Cipla.
From the BSE, the stocks that gained the most included GATI which zoomed 8.4 percent while Rattan India jumped 5 percent. Navkar Corp, Biocon and Strides Shasun were the other top Sensex gainers.
The stocks that hit new 52-week high on NSE included Maruti Suzuki, DLF, Minda Corp, Tata Global, Tata Power and Voltas.
From the BSE, the stocks that hit fresh 52-week high were Maruti Suzuki, IFB Industries, Voltas, KSE and Apex Frozen Food among others.
The market breadth was in favour of the advances on Monday morning with 945 stocks advancing as against 612 declines. On the other hand, 1238 stocks advanced and 690 stocks declined on the BSE.
Global research firm CLSA has maintained a buy on Bharti Infratel with target price of Rs 490 while CITI has maintained a buy on UltraTech with a target at Rs 5350 per share.
Credit Suisse has maintained a neutral call on Maruti Suzuki with a target of Rs 7,300 per share while Nomura has maintain a buy on the stock but has kept the target unchanged at Rs 9843 per share.
Ashwani Gujral of ashwanigujral.com has a buy on DLF with a stop loss of Rs 218, target of Rs 234 and a buy on Tata Global with a stop loss of Rs 254, target of Rs 272.