Oct 30, 2017 12:40 PM IST | Source: Moneycontrol.com

Market update: 95 stocks hit fresh 52-week high on NSE as midcaps outperform; Yes Bank top gainer

The Nifty midcap index continued to outperform the broader indices gaining 1.3 percent led by MRF, Bata India, Just Dial, IDBI Bank, Oriental Bank of Commerce and Voltas and the stocks which gained the most from the BSE included PI Industries which zoomed 8.5 percent and Jet Airways was up 6.71 percent.

Moneycontrol News

The Nifty as well as the Sensex continued to hold on to their respective morning gains with the Nifty adding 50 points or 0.49 percent while the Sensex gained 0.43 percent and was trading at 33,296.17. The Nifty midcap index continued to outperform the broader indices gaining 1.3 percent led by MRF, Bata India, Just Dial, IDBI Bank, Oriental Bank of Commerce and Voltas.

The top Nifty gainers were Bharat Petroleum Corporation, Oil and Natural Gas Corporation were which gained close to 3 percent each followed by Yes Bank, Dr Reddy's Labs and Bharti Infratel. ICICI Bank, PNB, SBI, Yes Bank and PI Industries were the most active Nifty stocks.

The stocks which gained the most from the BSE included PI Industries which zoomed 8.5 percent and Jet Airways was up 6.71 percent. United Breweries, Syndicate Bank and Union Bank of India were the other top contributors.

The stocks which hit fresh 52-week highs from the Nifty were Maruti Suzuki, Dalmia Bharat, Indraprastha Gas, Emami, United Breweries and Vaibhav Global. Keltech Energies, Gillette India, HEG, OCL India, LG Balakrishnan, Bata India, Bharat Forge and TVS Motor were some of the top Sensex gainers.

The market breadth was strong in the Monday afternoon trade with 1147 stocks advancing while 488 declined. On the BSE, 1672 stocks advanced while 859 declined.

Global research firm Macquarie has maintained an outperform rating on Maruti Suzuki post Q2 results and raised its target price to Rs 10,000 from Rs 8250 earlier while Nomura has retained a buy call on Maruti post Q2 results and raised its 12-month target price to Rs 9843 from Rs 8993 earlier.

CLSA has raised FY18-20 EPS estimates of Maruti By 3-4 percent and has maintained a buy rating and has revised target to Rs 10,000 from Rs 9,230 per share.

Ashwani Gujral of ashwanigujral.com has recommended a buy on Punjab National Bank with a stop loss of Rs 200 for target of Rs 221, a buy on Indraprastha Gas with a stop loss of Rs 1,590 for target of Rs 1,650 and a buy on BPCL with a stop loss of Rs 545 for target of Rs 570.