D-Street Buzz: PSU bank gains led by Central Bank, Syndicate Bank; auto stocks dip

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Nifty continued its upward momentum in the fourth consecutive session on October 30 with Nifty inching towards its life time high, while Sensex also trading around 40,000 mark.

The Sensex is up 164.53 points at 39,996.37, while Nifty is up 46.10 points at 11,833.

Bharti Airtel, Infosys, Bharti Infratel, ITC and Zee Entertainment are the top gainers on the Nifty, while losers are Coal India, UPL, Cipla, Tata Motors and ICICI Bank.

On the sectoral front, auto, metal and pharma indices are trading lower, while buying seen in the PSU bank, IT, infra, FMCG and energy.

In the IT space, Wipro, Tech Mahindra, Infosys, TCS, Tata Elxsi and HCL Tech are trading higher.

Among Nifty PSU banking, except IDBI Bank and Vijaya Bank, all other stocks are trading higher led by the Central Bank, Syndicate Bank, Canara Bank, Bank of India, Bank of Baroda, Indian Bank, OBC, Union Bank and PNB.

Tata Motors, Motherson Sumi, Maruti Suzuki, M&M, Hero Motocorp, Bosch, Eicher Motors, Bharat Forge and Ashok Leyland are among major losers in the auto segment.

The breadth of the market favoured advances, with 1210 stocks advancing, 739 declining and 125 remaining unchanged on the BSE. On NSE, 1058 stocks advanced, 621 declined and 452 remained unchanged. Get access to India’s fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code “GETPRO”. Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.