Market Update: CNX IT outshines as TCS, HCL Tech gain 2-3%; PC Jeweller top BSE gainer; RIL drags

The Indian equity market was trading on a positive note on Monday morning with the Nifty adding 43 points was trading at 10,735 while the Sensex was up 146 points or 0.42 percent.

The Nifty IT index was in the green, up 2 percent led by Mindtree which jumped over 4 percent followed by HCL Tech which added 3 percent. Tata Consultancy Services, Tech Mahindra and Wipro were the other gainers.

CNX Energy was down 1.5 percent dragged by Reliance Industries which was trading lower by 2 percent after the company declared its Q4 numbers on Friday. This was followed by GAIL India and BPCL.

Nifty PSU bank index was up 1 percent led by State Bank of India which added over 1 percent while Bank of India was trading higher by 1 percent.

The top Nifty gainers included HCL Tech which was up 2.2 percent followed by TCS, Wipro, State Bank of India and Kotak Mahindra Bank each adding over 1 percent.

The most active Nifty stocks included PC Jeweller which zoomed 10 percent followed by Axis Bank which shed 3 percent. Reliance Industries, TCS and Interglobe Aviation were the other active stocks.

The top Nifty losers were TCS, Reliance Industries and UPL, each falling 2 percent while BPCL and GAIL India were the other losers.

The top BSE gainers included PC Jeweller which zoomed 10 percent while Indiabulls Ventures added 6 percent. Bombay Dyeing, Repco Home and VIP Industries were the other gainers.

28 stocks hit fresh 52-week high in the morning trade including Bombay Dyeing, Britannia Industries, Dabur India, 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 1047 stocks advancing while 535 declined and 451 remained unchanged. On the other hand, in the BSE, 1126 stocks advanced and 624 declined and 89 remained unchanged.