Market Update: Nifty Realty outshines as 101 stocks hit new 52-week high; Axis falls 1%, HDFC most active
The Indian benchmark indices on Wednesday afternoon were trading on a positive note with the Nifty up 9 point or 0.09 percent while the Sensex added 38 points at 33654.
CNX Realty continued to outperformfor the second day gaining over 1 percent led by Sobha and Prestige Estates, HDIL, Delta Corp and Godrej Properties.
From the Nifty, the stocks that gained the most were Bosch which added 3.65 percent while Coal India gained 2.13 percent. Aurobindo Pharma, GAIL India and Bharti Infratel were the other top gainers.
The most active stocks were HDFC, Jet Airways, Indiabulls Real Estate, ICICI Bank and Tata Coffee.
The top losers were Axis Bank which shed over 1 percent while UPL, HDFC, Vedanta and Yes Bank were the other top Nifty losers.
From the BSE, the stocks that gained the most included Sobha which zoomed over 10 percent while Hathway jumped over 8 percent. HCL Infosystems, Religare Enterprises and Prestige Estates were the other top Sensex gainers.
101 stocks hit new 52-week high on NSE including Automotive Axles, Bajaj Corp, Finolex Cables, Kolte Patil, United Spirits, Sobha, Tata Coffee, Tata Global, Voltas, Zee Entertainment among others.
From the BSE, the stocks that hit fresh 52-week high were Yuken India, Maruti, Suzuki, Wabco, United Spirits among others.
The market breadth was in favour of the advances on Wednesday afternoon with 984 stocks advancing as against 648 declines. On the other hand, 1439 stocks advanced and 1014 stocks declined on the BSE.
Global research firm Macquarie has upgraded Coal India to outperform from neutral with a target price of Rs 310 per share. It expect domestic coal market to remain tight in the near term.
CLSA has maintained a buy call on Zee Entertainment with the target raised to Rs 707 from Rs 660 per share. It expects 20 percent earnings CAGR over FY18-20 which should drive share price performance.
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