The market breadth was in favour of the declines with 843 stocks advancing while 901 declined and 292 remained unchanged. On the other hand, in the BSE, 1210 stocks advanced and 1539 declined and 152 remained unchanged.
The Indian equity market zoomed into the green on Monday afternoon with the Nifty zooming 137 points at 10,135 mark while the Sensex spiked up 461 points or 1.51 percent.
Nifty PSU banking index was jumped 5 percent led by Canara Bank which zoomed over 11 percent Bank of Baroda was up 6 percent. State Bank of India, Syndicate Bank, Union Bank of India and Punjab National Bank were the other gainers.
The top Nifty gainers included Yes Bank and State Bank of India which jumped 4-6 percent followed by Bajaj Finance, Zee Entertainment and HDFC Bank.
The most active Nifty stocks included Kotak Mahindra Bank, State Bank of India, ICICI Bank and Tata Steel.
Jubilant Foodworks and Titan Company were two of the few Nifty stocks which hit fresh 52-week high in today's trade.
250 stocks hit new 52-week low including names like Capital First, Chennai Petroleum, Gammon India, GSK Pharma, IL&FS Engineering, PTC India, Reliance Naval, Tata Motors and Union Bank of India among others.
Den Networks jumped over 12 percent while Hathway was up 11 percent. Canara Bank, Network18 and CESC were the other top gainers.
The market breadth was in favour of the declines with 843 stocks advancing while 901 declined and 292 remained unchanged. On the other hand, in the BSE, 1210 stocks advanced and 1539 declined and 152 remained unchanged.
Global research firm CLSA has upgraded Cadila Healthcare to Buy from Underperform and has raised target to Rs 450 from Rs 440. It is of the view that improving India outlook and strong US pipeline is likely to drive earnings.
The house expects 16 percent earnings CAGR over FY18-20.
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