PNB up 1% as PSU banks outperform, Tata Steel most active; Quess Coorp, Havells down 4%

Nifty PSU bank was the other outperforming sector which added 0.6 percent as stocks like IDBI Bank rallied 1.81 percent followed by PNB which gained 0.9 percent. Bank of Baroda and SBI were the other top gainers.

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The Indian benchmark indices were trading lower with the Nifty marginally up by 2 points at 11,052 while the Sensex was down 8 points and was trading around the 36,000 mark.

CNX Realty was the outperforming sector which gained 0.7 percent led by Delta Corp, Phoenix Mills, and Sobha.

Nifty PSU bank was the other outperforming sector which added 0.6 percent as stocks like IDBI Bank rallied 1.81 percent followed by PNB which gained 0.9 percent. Bank of Baroda and SBI were the other top gainers.

From the Nifty, the stocks that gained the most were IOC which jumped 1.74 percent while Tata Steel and Adani Ports added 1.5 percent each. HPCL and BPCL were the other Nifty gainers.

The most active stocks were Quess Corp which tanked over 6 percent followed by Havells India which fell 4 percent. Tata Steel and IOC were the other active stocks.

ICICI Bank ahead of its Q3 numbers was down 1.44 percent.
From the BSE, the stocks that gained the most included Balrampur Chini which gained 4.8 percent followed by TV18 Broadcast adding 4 percent. Jai Corp and Videocon were the other top gainers.

17 stocks hit fresh 52-week low on NSE including LIC Housing Finance.

The market breadth was in favor of the advances on Wednesday morning with 846 stocks advancing as against 725 declines while 440 remained unchanged. On the other hand, 1005 stocks advanced and 849 stocks declined while 91 remained unchanged on the BSE.

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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