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Monday, August 20, 2018

Metal & pharma stocks propel Nifty to record high; L&T up 4%, Yes Bank hits new 52-week high


The breadth of the market favoured advances, with 1124 stocks advancing, 462 declining and 481 remaining unchanged. On BSE, 1289 stocks advanced, 562 declined and 87 remained unchanged.

The Nifty for the first time has hit record high this Monday morning and is up 56 points, trading above 11,500. The Sensex on the other hand jumped 217 points and is trading at 38,167.

The metal index is up 1 percent with gains from Jindal Steel & Power, Hindalco Industries, Coal India, JSW Steel, Tata Steel, MOIL and Vedanta.

Nifty pharma has also added 1 percent led by Cadila Healthcareand Divis Labs which jumped 3-4 percent followed by Glenmark Pharma, Aurobindo Pharma and GSK Pharma.


PSU banks are also trading on the positive side led by State Bank of India, Canara Bank, Andhra Bank, Bank of Baroda, Oriental Bank and Union Bank of India.

Individual oil & gas stocks are also buzzing this Monday morning led by ONGC, HPCL and Reliance Industries.

However, IT stocks are trading lower dragged by Infosys which is down 2 percent while KPIT Tech, Tech Mahindra and HCL Tech are the other losers.

Larsen & Toubro, up 4 percent ahead of its Board meet along with ONGC, Coal India, Yes Bank and HPCL are the top gainers on the Nifty.

The most active stocks include Infosys, L&T, Yes Bank, Sun Pharma and Dewan Housing Finance.

The top BSE small gainers include names like Mangalore Chemicals which jumped 11 percent followed by PTC India Financial, Mawana Sugars and Skipper India.

The top BSE gainers are PTC India Financial, KPR Mills, Kwality, Larsen & Toubro and Tata Steel.

Britannia Industries, DHFL, Divis Labs, GSK Pharma,Hindustan Unilever, Indiabulls Ventures, L&T Infotech, Mahindra & Mahindra, PAGE Industries and Yes Bank are some of the stocks which have hit new 52-week high in the morning trade on NSE.

The breadth of the market favoured advances, with 1124 stocks advancing, 462 declining and 481 remaining unchanged. On BSE, 1289 stocks advanced, 562 declined and 87 remained unchanged.


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Source: https://www.moneycontrol.com/news/business/markets/d-street-buzz-metal-lt-up-4-yes-bank-hits-new-52-week-high-2859841.html
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