PNB, Kotak Mah Bank, BoB, SBI top gainers; Sensex choppy

Aug 21, 2014, 02.24 PM IST | Source: Moneycontrol.com

Bank Nifty advanced over a percent as top lenders like Punjab National Bank, Bank of Baroda, Kotak Mahindra Bank, State Bank of India, Axis Bank and HDFC Bank gained 1-3 percent.

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Bank Nifty advanced over a percent as top lenders like Punjab National Bank, Bank of Baroda, Kotak Mahindra Bank, State Bank of India, Axis Bank and HDFC Bank gained 1-3 percent.

14:24

Moneycontrol Bureau Equity benchmarks continued to trade higher with marginal gains amid volatility, supported by banks and auto stocks. The Sensex rose 69.79 points to 26384.08 and the Nifty climbed 17.30 points to 7892.60.

About 1534 shares have advanced, 1323 shares declined, and 107 shares are unchanged.

Bank Nifty advanced over a percent as top lenders like Punjab National Bank, Bank of Baroda, Kotak Mahindra Bank, State Bank of India, Axis Bank and HDFC Bank gained 1-3 percent.

Bajaj Auto topped the buying list in the Sensex, up 3 percent followed by Sun Pharma with 1.8 percent. However, NTPC, Dr Reddy's Labs, Hindalco Industries, Sesa Sterlite and United Spirits lost 1-2 percent.

Ferrous stocks like SAIL and Tata Steel declined after the cabinet hiked royalty rates on iron ore to 15 percent from 10 percent earlier. MOIL too was under pressure as manganese royalty rates upped to 5 percent from 4.2 percent earlier.

Zee Entertainment is all set to replace United Spirits on all NSE indices with effect from the September 19.

Global markets subdued today with the Asian equities closing in the red as China economy fears deepened after Chinese HSBC PMI fell to 3-month low of 50.3. Even Eurozone data disappointed with the manufacturing PMI sliding to 13-month low.