India stock market is trading on a positive note with benchmark indices adding half a percent each. Nifty gained 67 points and is trading at 11,990 mark while the Sensex added 242 points and is trading at 39,956 level.
Nifty Auto is the outperforming sector, up over 1 percent led by Bajaj Auto and Hero MotoCorp which gained 3-5 percent each. Hero Moto rallied after May sales data was better than depressed estimates by analyst. Bajaj Auto shares also rallied after better-than-expected sales data for month of May.
The two and three-wheeler maker reported a 3 percent increase in its sales at 4.19 lakh units for May, against 4.07 lakh units sold in same month last year, driven by motorcycle sales.
The other gainers are Maruti Suzuki, MRF and TVS Motor Company.
From the IT space, the top gainers are HCL Tech, TCS, Tata Elxsi and Wipro.
HDFC Bank added close to a percent while YES Bank, PNB abd RBL Bank are the other banking stocks which traded in the green.
Selective oil & gas stocks are trading in the green led by Indian Oil Corporation, BPCL, HPCL and Reliance Industries.
India VIX is down 0.12 percent at 16.05 levels.
The top Nifty gainers included Hero Moto, Bajaj Auto, Asian Paints, Britannia Industries and Indian Oil Corporation while the top losers are ONGC, ITC, Hindalco Industries, Mahindra & Mahindra and Eicher Motors.
The most active stocks were Maruti, TCS, Reliance Industries, NCC and Just Dial.
HDFC, Deep Industries, Gujarat Gas, Hindustan Petroleum Corporation, Indraprastha Gas, Refex Industries and Symphony hit new 52-week highon NSE.
98 stocks have hit 52-week low on BSE including Opto Circuits, Sintex Plastics, IIFL Holdings, Manpasand Beverages and Igarashi Motors among others.
The breadth of the market favoured the declines as 762 stocks advanced and 915 declined while 433 remained unchanged on the NSE. On the BSE, 985 stocks advanced, 1171 declined and 126 remained unchanged.
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.