The top gainers included Tata Steel, ONGC, State Bank of India, Sun Pharma and Power Grid while the top losers included TCS, Bajaj Auto, Hindustan Unilever, Infosys and Hero MotoCorp.
The Indian stock market edged higher on June 5 helped by gains in financial stocks. Sensex is up 102.72 points or 0.3 percent at 34083.42, and the Nifty jumped 55.90 points or 0.56 percent at 10085.00.
The metal index is the outperforming sector, up over 4 percent led by SAIL, Tata Steel and Jindal Steel & Power which jumped 6-7 percent followed by Hindustan Copper, Hindalco Industries, JSW Steel and MOIL.
Share price of SAIL was one of the most active stocks on NSE in terms of volumes with 3,25,41,222 shares being traded at 11:45 hours.
Nifty PSU Bank was up over 2 percent led by State Bank of India which is scheduled to come out with its March quarter numbers. This was followed by PNB, Canara Bank, Bank of Baroda and JK Bank.
The other gainers included RBL Bank, Federal Bank, Bandhan Bank, HDFC Bank, IDFC First Bank, IndusInd Bank and ICICI Bank.
The Oil & Gas index is also up led by ONGC, HPCL and IOC which jumped 3-4 percent followed by Reliance Industries which hit record high after Mubadala Investment Company, the Abu Dhabi-based sovereign investor, will invest Rs 9,093.60 crore in Jio Platform at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore, as per RIL release.
Selective IT stocks are trading lower with the BSE IT index down half a percent. TCS shed 2 percent while Mindtree, Subex, Persistent Systems and Tech Mahindra were the other losers.
India VIX is down 2.16 percent and is trading at 29.05 level.
The top gainers included Tata Steel, ONGC, State Bank of India, Sun Pharma and Power Grid while the top losers included TCS, Bajaj Auto, Hindustan Unilever, Infosys and Hero MotoCorp.
The most active stocks on NSE included Bharti Airtel were 2,61,02,117 shares are traded on NSE followed by Tata Motors which jumped over 8 percent where 9,60,35,470 shares are traded at 12.09 hours. The other most active stocks included Reliance Industries and HDFC Bank.
Amazon.com is in early-stage talks to buy a stake worth at least $2 billion in mobile operator Bharti Airtel, three sources with knowledge of the matter told Reuters, underscoring the growing attraction of India's digital economy for the US tech giants. The planned investment, if completed, would mean Amazon acquiring a roughly 5 percent stake based on the current market value of Bharti, which is India's third-largest telecoms company with more than 300 million subscribers.
Brokerage firm Axis Securities has a buy on Bharti Airtel with target of Rs 650 per share.
Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
