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Tuesday, July 17, 2018

D-Street Buzz: Nifty midcap outshines as Federal Bank zooms 17%; BoB leads PSU bank rally


275 stocks have hit fresh 52-week low including Aban Offshore, ACC, Ambuja Cements, Andhra Bank, Bank of India, DEN Networks, Federal Bank, GIC Housing Finance, HCC, India Cements, Kwality, NBCC, NMDC, PC Jeweller, PTC India and REC among others.


The Indian benchmark indices including the Sensex continues to trade on a positive note this Tuesday afternoon with the index trading 124 points at 36,447 while the Nifty is trading higher by 56 points at 10,993.

Midcaps are buzzing this Tuesday afternoon, up 2.5 percent led by Bata India, CG Power, GMR Infra, IFCI, India Cements, Jain Irrigation Systems, JP Associates, PFC, Reliance Capital, Reliance Infra, Tata Global Beverage and Voltas among others.

The Nifty auto index is up half a percent led by Apollo Tyres, Ashok Leyland, Bharat Forge, Exide Industries, Mahindra & Mahindra and Tata Motors.

The PSU bank index is up over 2 percent led by stocks like Union Bank of India, Syndicate Bank, Bank of Baroda, Punjab National Bank and Oriental Bank of Commerce by Canara Bank, Bank of India and Allahabad Bank among others.

Federal Bank jumped 17 percent while ICICI Bank, IDFC Bank, Yes Bank, RBL Bank and Axis Bank are some of the banks which are also up in the afternoon trade.

Oil & gas stocks are up with Reliance Industries adding half a percent while HPCL, BPCL and Indian Oil Corporation are up 4-5 percent.

From the BSE midcap space, Reliance Communications jumped 5 percent while Union Bank of India, LIC Housing Finance, MRPL, IDFC Bank and Muthoot Finance added 3-4 percent.

From the smallcap space, CMI zoomed 11 percent while Hathway Cable is up 10 percent. JMT Auto, Kitex Garments, Ujaas Energy and CG Power are the other smallcap gainers.

The top gainers among Nifty constituents are HPCL, Indian Oil Corporation, Hindalco Industries, BPCL and Tata Steel.
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Source: https://www.moneycontrol.com/news/business/markets/d-street-buzz-nifty-midcap-outshines-as-federal-bank-zooms-17-bob-leads-psu-bank-rally-2723671.html
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