Market Update: RIL up 3%, hits new record high ahead of results, Axis Bank jumps 4%; Den top BSE gainer

The Indian equity market was trading on a positive note on Friday morning, thanks to Axis Bank and Reliance Industries adding 3-4 percent helping the Nifty gain 60 points which was trading at 10,678 while the Sensex was up 202 points or 0.58 percent.

Bank Nifty was up in the morning trade, gaining 1 percent led by Axis Bank which jumped 4 percent after the company reported its Q4 numbers on Thursday.

The other gainers included Yes Bank which added 3 percent followed by ICICI Bank, up 2 percent while State Bank of India gained 1 percent. Bank of India, Canara Bank and PNB were the other gainers.

Nifty Energy also outperformed the broader indices led by Reliance Industries which jumped 3.5 percent ahead of its Q4 numbers, hiiting new record highs in the morning trade. The other performers were BPCL, HPCL and GAIL India.

CNX Realty was also trading higher led by DLF which jumped 3 percent followed by Sobha, Unitech, HDIL and Indiabulls Real Estate.

The top Nifty gainers included Axis Bank which was up 4 percent followed by Reliance Industries which added 3 percent. Yes Bank, ICICI Bank and Adani Ports were the other gainers.

The most active Nifty stocks included Axis Bank, Yes Bank, Reliance Industries, TCS and Maruti Suzuki.

The top Nifty losers were Tech Mahindra and Wipro which shed over 1 percent each followed by Bharti Airtel, TCS and HCL Tech.

The top BSE gainers included Den Networks which zoomed 10 percent while Axis Bank, Equitas Holdings, RBL Bank and JM Financial were the other gainers.

21 stocks hit fresh 52-week high in the morning trade including Biocon, Jubilant Foodworks, Kotak Mahindra Bank, Reliance Industries and Shriram Transport Finance among others.

The market breadth was in favour of the advances with 1160 stocks advancing while 397 declined and 466 remained unchanged. On the other hand, in the BSE, 1205  stocks advanced and 397 declined and 62 remained unchanged.