Market Update: GHCL zooms over 10%; NTPC, Axis Bank top gainers; RIL, DLF most active
The Indian benchmark indices on Monday afternoon were trading on a negative note but managed to claw back with the Nifty down 16.65 points or 0.16 percent while the Sensex fell 39 points at 33640.
The midcap Index was the outperforming sector, up 0.75 percent led by Ashok Leyland, Bata India, GMR Infra, Godrej Industries, India Cements, Jain Irrigation, Mcleod Russel, Tata Chemicals and Voltas.
From the Nifty, the stocks that gained the most were NTPC which gained close to 2 percent while Axis Bank was up 2.23 percent. ONGC, UPL and Zee Entertainment were the other top Nifty gainers.
The most active stocks were Jai Corp which jumped over 5 percent while PC Jeweller, DLF, Reliance Industries and Axis Bank were the other most active stocks.
The top losers were HPCL, IndusInd Bank, Adani Ports, Infosys and Tata Motors.
From the BSE, the stocks that gained the most included GHCL which close to 11 percent while TV18 Broadcast jumped 10 percent. Religare, Hathway and Nilkamal the other top Sensex gainers.
111 stocks hit new 52-week high on NSE including Automotive Axles, Bajaj Electricals, Dalmia Bharat, DLF, Eveready Industries, Jubilant Foodworks, United Spirits, Titan Company, TVS Motor and Zee Entertainment.
From the BSE, the stocks that hit fresh 52-week high were Yuken India, Dixon Tech, Vakrangee, Future Retail, Control Print, Emami, Minda Industries among others.
The market breadth was in favour of the advances on Monday afternoon with 944 stocks advancing as against 720 declines. On the other hand, 1520 stocks advanced and 1121 stocks declined on the BSE.
Technical Analyst Ashwani Gujral of ashwanigujral.com has a buy on Titan Company with a stop loss of Rs 820, target of Rs 855 and a buy on DLF with a stop loss of Rs 224, target of Rs 238. He also has a buy on Jubilant Foodworks with a stop loss of Rs 1760, target of Rs 1900.
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