Market Update: SBI top gainer on Nifty, up 3% despite poor Q4; PC Jeweller zooms 16%

The market continues to trade on a positive note on Tuesday afternoon, with the Niftyup11 points at 10,523 and the Sensex up 30 points at 34,646.

The Bank Nifty turned green led by State Bank of India, despite the bank posting a Q4 net loss of over Rs 7,700 crore. Punjab National Bank, which gained 4.48 percent, Bank of Baroda, Federal Bank and ICICI Bank were the other gainers.

The Nifty Realty indexwas up over 1 percentled by Indiabulls Real Estate, which jumped 4 percent.DLF, HDIL and Unitech were among the other gainers.However, Sobha wasdown over3 percent.

JP Associatesrose byaround 9 percent, while CG Power, Idea Cellular, Reliance Communications and Voltas were the other top gainers on the NSE.

related news Dr Reddy’s Laboratories rises 8% despite fall in Q4 profit; recommends 400% final dividend Motilal Oswal Financial Services gains 4% on healthy earnings in Q4 led by brokerage, AMC VIP Industries gains 10% post strong Q4 numbers; recommends 100% final dividend

Media stocks were also buzzing in afternoon trade, withNetwork18and TV18 Broadcast up 4 percent each. Sun TV NetworkandPVRwere the other gainers.

The top gainers among Nifty constituents wereTata Motors, Bajaj Auto, Bajaj Finserv, State Bank of India and Coal India.

The most actively traded stocks on the NSE were State Bank of India, Ashok Leyland, Strides Shasun, PC Jeweller and Tata Motors.

Some of the top gainers on BSE were PC Jeweller, JP Associates, Strides Shasun, Balrampur Chini andNCC.

The biggest loserswere Mahanagar Gas, PNB Housing, EROS International, Mphasis and Bharat Forge.

Berger Paints, Bajaj Finance and Bajaj Finserv all hit fresh 52-week highs inafternoon trade. On the other hand, 207 stocks hit new 52-week lows.

The stocks that hit new 52-week lows include Ajanta Pharma, BEML, Bharti Airtel, Can Fin Homes, Castrol India, Ceat, GMDC, Grasim Industries, Jet Airways, NBCC, UltraTech Cement and Vakrangee, among others.

The breadth of the market favoured advances, with 952 stocks advancing, 772 declining and324 remaining unchanged. On BSE, 1353 stocks advanced,1198 declined and 139 remained unchanged.

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd

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