Market Update: IT, metal stocks gain led by Mindtree, Welspun Corp; Yes Bank jumps 4%, HUL at new 52-week high

The Indian equity market was trading on a positive note on Monday afternoon with the Nifty adding 59 points was trading at 10,752 while the Sensex was up 227 points or 0.65 percent.

The Nifty IT index was in the green, up 1.5 percent led by KPIT Tech and Mindtree which jumped over 3 percent each followed by Tata Consultancy Services and Wipro.

Bank Nifty was also in the green as State Bank of India gained 2 percent while Yes Bank jumped 4 percent. Bank of Baroda and Bank of India were the other gainers.

CNX Energy was down 1.5 percent dragged by Reliance Industries which was trading lower by 3 percent after the company declared its Q4 numbers on Friday. This was followed by Indian Oil Corporation.

CNX Metal was up 1 percent led by Welspun Corp which added 5 percent followed by Vedanta, Tata Steel and Steel Authority of India. However, Bhushan Steel was down over 7 percent in the afternoon trade.

The top Nifty gainers included Yes Bank which was up 4.6 percent followed by Vedanta, Hindustan Unilever, Tata Consultancy Services and State Bank of India, each adding over 2 percent.

The most active Nifty stocks included PC Jeweller which fell 5 percent followed by Reliance Communications which shed 4 percent. JP Associates, Yes Bank and State Bank of India were the other active stocks.

The top Nifty losers were Axis Bank which fell 3.4 percent while UPL and RIL shed 3 percent each. Bharti Infratel and Indian Oil Corporation were the other losers.

The top BSE gainers included Indiabulls Ventures which zoomed 10 percent while Repco Homes Finance added 8 percent. Bombay Dyeing and Astra Micro were the other gainers.

49 stocks hit fresh 52-week high in the afternoon trade including Berger Paints, Bharat Financial Inclusion, Britannia Industries, Dabur India, Avenue Supermarts,  Hexaware Tech, Hindustan Unilever, Indiabulls Ventures, IndusInd Bank, Kotak Mahindra Bank, Mahindra & Mahindra, Mindtree, MRF, NIIT Tech and SRF among others.

The market breadth was in favour of the advances with 999 stocks advancing while 674 declined and 376 remained unchanged. On the other hand, in the BSE, 1381 stocks advanced and 1031 declined and 127 remained unchanged.