The Indian stock market continues trading in the green but is off the high point of the day with Sensex is up 131.46 points or 0.34 percent at 38540.94, and the Nifty added 59.80 points at 11310.80.
The FMCG index along with the PSU bank stocks continues trading in the green. The top gainers from the FMCG space included Jubilant Foodworks, Britannia Industries, Godrej Consumer, Hindustan Unilever and United Breweries.
Among the PSU banking names, Allahabad Bank jumped over 7 percent followed by Oriental Bank of Commerce, Syndicate Bank, Union Bank of India, Indian Bank and Central Bank of India.
Metal stocks are under pressure, the top losers being Vedanta, Hindalco Industries, NALCO, SAIL and Tata Steel.
India VIX was down 4.09 percent and was trading at 23.24 level.
The top gainers included YES Bank, Eicher Motors, HCL Tech, Kotak Mahindra Bank and Britannia Industries while the top losers included Zee Entertainment, Bharti Infratel, Hindalco Industries, Vedanta and Reliance Industries.
The most active stocks included State Bank of India, YES Bank, Reliance Industries, Indiabulls Housing Finance and IRCTC.
“As long as the key lower support holds (11,100-11,000), the Nifty could attempt to reach crucial upside resistance of around 11,400 soon. The completion of upside bounce around 11,400 or maximum 11,500 is expected to trigger next round of sharp weakness from the higher levels,” Nagaraj Shetti, Technical Research Analyst at HDFC Securities told Moneycontrol.
27 stocks have hit 52-week high on BSE including Pidilite Industries, Dabur India and Ajanta Pharma among others.
307 stocks hit fresh 52-week low on the BSE including Indian Hotels, Emami, Future Lifestyle, JSW Energy, Canara Bank, Hathway Cable and EIH among others.
About 1140 shares have advanced, 1075 shares declined, and 130 shares are unchanged.
The most active stocks with respect to volumes included YES Bank which surged after the government approved a plan for State Bank of India to lead a consortium that will buy a stake in private lender Yes Bank, news agency Bloomberg reported.
It was trading with volumes of 38,692,035 shares, compared to its five day average of 8,492,597 shares, an increase of 355.60 percent.
Share price of State Bank of India added half a percent and was trading with volumes of 5,182,304 shares, compared to its five day average of 2,395,948 shares, an increase of 116.29 percent.
Auto major Tata Motors gained half a percent as well. The stock was trading with volumes of 3,477,674 shares, compared to its five day average of 3,420,899 shares, an increase of 1.66 percent.
Reliance Industries was trading with volumes of 307,082 shares, compared to its five day average of 647,514 shares, a decrease of -52.58 percent. The stock was down over a percent.
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
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