In the last hour of trading session Indian equity markets breached its flat range towards the positive direction following short-coverings in beaten down banking stocks. Nifty Reclaimed 6000 level and ended the day at 6038 surging 64 points while Sensex closed above the psychological mark of 20000 with a gain of 179.68 at 20128.41
Oil and Natural Gas Corp rose after CLSA upgraded the stock to "buy" from "outperform", citing prospect of a 20% upside to its share prices on positive factors such as the continuing hikes in monthly diesel prices and the recent doubling of gas prices.
Axis Bank pleased the Dalal street with the first quarter net profit rising 22% year-on-year to Rs 1,409 crore. Net interest income increased higher-than-expected 31.4% to Rs 2865 crore from Rs 2180 crore during the same period.
Among the sectoral indices CNX Realty gained 2.98% followed by CNX PSU Bank (2.00%) and Bank Nifty (1.97%). All other major indices ended at positive terrain.
Out of 50 stocks of Nifty 41 ended the day at positive zone while 9 stocks at negative.
Top 5 Nifty gainers: Reliance Infrastructure (5.82%), ONGC (4.85%), Asian Paints (4.18%), Axis Bank (4.03%) and BOB (3.69%) were top Nifty gainers.
Top 5 Nifty losers: HCL (-1.75%), M&M (-1.52%), TCS (-1.19%), Ultra cement (-0.80%) and NTPC (-0.68%) were index top losers.
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