Market Update: Maruti hits record high, Axis at new 52-week high; NTPC, ONGC top losers

The Indian benchmark indices on Tuesday morning were trading on a negative note with the Nifty down 15 points or 0.15 percent while the Sensex slipped 67 points at 33657.

CNX Realty was the outperforming sector led by Prestige Estates, Sobha and Indiabulls Real Estate.

From the Nifty, the stocks that gained the most were UPL which gained 1.42 percent while IndusInd Bank was up 1 percent. Adani Ports, Cipla and Axis Bank were the other top Nifty gainers.

The most active stocks were Axis Bank, Indraprastha Gas, Tata Global Beverage and PC Jeweller.

The top losers were NTPC, ONGC, Power Grid, BPCL and Indian Oil Corporation.

From the BSE, the stocks that gained the most included Rallis India which rallied close to 6 percent while IGL added 5.7 percent. Videocon Industries, Mcleod Russel and Mahanagar Gas were the other top Sensex gainers.

The stocks that hit new 52-week high on NSE included Automotive Axles, Axis Bank, Century Ply, Emami, IGL, Maruti Suzuki, Mcleod Russel, PC Jeweller, Raymond, SRF, Tata Global Beverage among others.

From the BSE, the stocks that hit fresh 52-week high were Yuken India, Jubilant Food, Fag Bearings, Minda Industries, 8K Miles Software, Zee Entertainment among others.

The market breadth was in favour of the advances on Tuesday morning with 905 stocks advancing as against 621 declines. On the other hand, 1117 stocks advanced and 729 stocks declined on the BSE.

Research and broking firm Motilal Oswal has upgraded IGL to buy with a target price of Rs 404 per share and expects 13/11/11 percent volume growth in FY18/19/20.

Technical Analyst Ashwani Gujral of ashwanigujral.com has a buy on 8k Miles with a stop loss of Rs 935, target of Rs 980 and a buy on Axis Bank with a stop loss of Rs 554, target of Rs 580.