Markets extend rally; Bajaj Finance, Zee among top Nifty gainers

Bajaj Finance, Bajaj Finserv, Zee, and Hero MotoCorp were among the major gainers on the Nifty50, whereas IOC, Hindalco, Vedanta, and Adani Ports led losses.

May 17, 2019 07:05 IST India Infoline News Service

Equity benchmark indices extended gain in the noon trade on Friday as the rally led by FMCG, auto, financial services and media stocks. The Sensex was quoting at 37,726, up 333 points, while the Nifty was at 11,346, up 89 points.

The market breadth was positive on the NSE with 936 shares advancing, 746 shares declining, and 410 remaining unchanged.

The market opened higher and held firm at higher levels in morning trade. Indices turned range bound in mid-morning trade.

Bajaj Finance, Bajaj Finserv, Zee, and Hero MotoCorp were among the major gainers on the Nifty50, whereas IOC, Hindalco, Vedanta, and Adani Ports led losses.

Investors are cautious ahead of the important general election result that will be announced next week. The last phase of Lok Sabha elections is scheduled on Sunday.

Shares of IOC, Dr Reddy’s and Jubilant Life were trading in the negative zone ahead of its quarterly results later in the day.

Nifty FMCG is up over 1.5% led by Hindustan Unilever which jumped 3% followed by Godrej Consumer, Dabur India, Marico, Emami and Colgate Palmolive were up in the range of 1-2% respectively.

The Nifty Auto index was up 1.2% led by gains in Hero MotoCorp, M&M, Bosch, and Maruti. Followed by Nifty Financial Services gained 1.5% at 12,503.95 levels. Bajaj Finance among top gainers in the index, also shares of Bajaj Finserv, and Bajaj Holdings rose 3%.

Further, shares of Titan Company, Kotak Mahindra Bank, Bajaj Finserv, Bajaj Finance, Merck and UPL have hit new 52-week high on NSE, while 130 stocks hit new 52-week low which includes Delta Corp, Motherson Sumi Systems, Vodafone Idea, Fortis Healthcare, Natco Pharma, Bombay Burmah, JK Tyre and NHPC.

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