D-Street Buzz: Nifty PSU Bank outperforms led by PNB; Zee Entertainment jumps 2%, Bharti Airtel drags

Sensex and Nifty have managed to hold on to morning gains thereby trading on a positive note with the Nifty50 up 50 points, trading at 10842 while the Sensex added 149 points and was trading at 36,016 mark.

The PSU Bank index jumped 2 percent in this afternoon session led by Oriental Bank of Commerce which jumped close to 7 percent followed by Union Bank of India, Bank of Baroda, Bank of India, Indian Bank, Punjab National Bank, Punjab National Bank, Syndicate Bank and Vijaya Bank.

Nifty midcap gained over 1 percent led by Castrol India, Century Textiles, Cholamandalam Investment, Dish TV, JPSL, MRPL, NALCO, Ramco Cements, Reliance Power, Tata Power and United Breweries.

Media stocks were also buzzing with gains from DEN Networks which jumps 5 percent followed by Dish TV, EROS International Media, Hathway Cable, TV18 Broadcast and Zee Entertainment.

Metal stocks were also shining led by SAIL, NALCO, Vedanta, JSPL, Tata Steel, NMDC and Hindustan Copper.

The top gainers from NSE included Adani Ports, Vedanta, Zee Entertainment, IndusInd Bank and Hero MotoCorp while the top losers included Bharti Airtel, Dr Reddy’s Labs, Cipla, Axis Bank and UPL.

The most active stocks were SBI Life Insurance, TCS, Bharti Airtel, YES Bank and Reliance Industries.

19 stocks have hit new 52-week high including UPL, AstraZeneca Pharma, Balrampur Chini, IPCA Laboratories, Power Finance Corporation, Dalmia Bharat Sugar, ICICI Lombard General Insurance and PI Industries.

19 stocks have hit new 52-week low including Arrow Greentech, Gemini Communication, KSS and Visesh Infotecnics among others.

The breadth of the market favoured the advances with 1327 stocks advancing and 338 declining while 400 remained unchanged. On the BSE, 1660 stocks advanced, 578 declined and 124 remained unchanged.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.