Indian Stock Markets BSE and NIFTY continued there rally on Monday. BSE gained 141 points to 32298 level While NIFTY trading at 10375 with 41 points up.Banking stocks continued there momentum from the last week.Top PSU banks PNB and SBI are leading the rally. PNB is up 8 points to 204.85 while SBI trading at 315 gained 4 points in the morning trading session. Private sector bank ICICI gained 3.90 points to 305.05.Top gainers at BSE counter are Jet Airways the stock surged 33 points to 557.15, followed by Union Bank 10 points up to 186.25 and Orient bank 7 points up to 143.25 at 11 am IST.Top Losers on BSE are Adani trans dropped 9.80 points to 220 followed by Religare at 37.80.
SBI General Insurance posted a massive profit of Rs 251 crore in the quarter ended in September. The company’s gross premium increased to Rs 926 crore from Rs 690 crore from last year.
Top picks of the day: Buy PNB with Target of 215 and Maintain Stop loss of 176 hold for 2 weeks. Buy Religare at 36 for the target of 45 and stop loss of 32 Hold for a Month.Sell Axis Bank for a Target of 450 and Stop loss of 510 Hold it for a Month.Sell ITC for a Target of 250 and maintain Stop Loss of 280 hold for 1-2 Weeks.
Asian markets were mixed on Monday opened.Nikkei edged down 0.08% to 225. Down Under SNP rose 0.28 percent 0.17%, Hong Kong’s leading index Hang Sang as up 0.07%