D-Street Buzz: Oil & gas stocks rally with RIL up 5%; Nifty realty drags, 8K Miles Software shed

The Indian benchmark indices�including Nifty has jumped�90 points and is trading�at 11,037 mark�while�the Sensex is trading�higher�by�348 points at 36,614, reaching a new record high.

At�14:00�hrs,�the�Energy�index is outperforming the broader indices and is trading higher by�3.5 percent. From the BSE, Reliance Industries zoomed 5 percent after the company hit $100 billion market cap. MRPL, HPCL, BPCL and IOC are also trading higher by 2-4 percent.

PSU banks are also buzzing in the afternoon trade, up�1 percent led by Bank of Baroda which jumped 2 percent followed by State Bank of India, Punjab National Bank�and Canara Bank.

From the private banking space HDFC Bank, ICICI Bank, IndusInd Bank and Yes Bank are the other gainers which added up to 1 percent in the afternoon trade.

related news Trent shares jump over 7% to hit record high after Jefferies upgrades to Buy, raises target Axis Bank rallies 6% in 5 straight days, Macquarie sees further 15% upside

Realty stocks have turned weak dragged by DLF, Indiabulls Real Estate and Oberoi Realty, each shedding 2 percent while Unitech traded higher.

The top gainers among Nifty constituents are Reliance Industries which zoomed 5 percent and hitting a new record high. HPCL, BPCL,�Dr Reddy's Labs and Bajaj Finance.

The most actively traded stocks on the NSE are Reliance Industries, TCS, Infosys, Yes Bank and HDFC.

Some of the top BSE gainers�include names like GMR Infra which jumped close to 6 percent followed by Reliance Industries, Time Technoplast, Balrampur Chini and Bajaj Electricals.

Bajaj Finance, Berger Paints, HDFC Bank, Hindustan Unilever, Jubilant Foodworks, Kotak Mahindra Bank, KPIT�Tech, Mphasis and Reliance Industries�are�some�of the very�few stocks that hit fresh 52-week high in the�afternoon trade.

Adani Power is trading lower by over 7 percent from the BSE midcap space while 8K Miles Software from the BSE smallcap space is down close to 10 percent.

The breadth of the market favoured declines, with�762 stocks advancing, 948 declining and�352 remaining unchanged. On BSE,�1113 stocks advanced, 1422 declined and�143 remained unchanged.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd. First Published on Jul 12, 2018 02:29 pm