Nifty Metal shines led by Vedanta, Hindalco; oil & gas stocks gain, IT drags

The breadth of the market favoured the declines with 983 stocks advancing and 529 declining while 520 remained unchanged. On the BSE, 874 stocks advanced, 442 declined and 58 remained unchanged.

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The Indian stock market is trading on a strong note in this morning session with the Nifty50 up 57 points, trading at 10,785 while the Sensex gained 236 points at 35,953.

Nifty Metal is the outperforming sector, up 1.5 percent led by Hindalco Industries, JSPL, JSW Steel, Hindustan Zinc, NALCO, SAIL, Tata Steel and Vedanta.

FMCG stocks are also buzzing with gains from Emami, GSK Consumer, ITC, Godrej Industries, Dabur India and Britannia Industries.

From the oil & gas space, the top gainers included names like Reliance Industries which jumped close to 2 percent followed by BPCL, HPCL and GAIL India.

The top gainers from NSE include TCS, Infosys, Zee Entertainment, HCL Tech and Reliance Industries.

From the banking space, the top gainers included ICICI Bank, Kotak Mahindra Bank, Axis Bank and State Bank of India. On the other hand, YES Bank continues to slide, down over 4 percent.

From the BSE midcap space, the top gainers included L&T Finance, Adani Power and GSK Consumer while the top losers are Adani Transmission, DHFL and RBL Bank.

From the BSE smallcap space, the top gainers are Hotel Leela and Parsvnath which zoomed 20 percent each followed by PG Electroplast.

The top gainers from the NSE are Vedanta, Hindalco, Reliance Industries, Power Grid and Zee Entertainment.

The top losers included YES Bank, ONGC, Coal India, Bharti Infratel and HCL Tech.

The most active stocks were YES Bank, Reliance Industries, HDFC Bank, ICICI Bank and Axis Bank.

Adani Power and Electrosteel Steels are some of the few stocks which hit new 52-week high on the NSE.

38 stocks have hit new 52-week low including names like ABG Shipyard, Ashapura Intimates, ONGC, Sun Pharma Advanced Research Company and Prabhat Dairy among others.

The breadth of the market favoured the declines with 983 stocks advancing and 529 declining while 520 remained unchanged. On the BSE, 874 stocks advanced, 442 declined and 58 remained unchanged.

Disclaimer:-The views and investment tips expressed by investment experts are their own. Ripples Advisory advises users to check with certified experts before taking any investment decisions.

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