Market Update: ICICI Bank, ITC top gainers, Voltas hits 52-week high; Tata Motors down over 4%

The Nifty as well as the Sensex were trading in the negative territory with the Nifty down 14 points or 0.14 percent while the Sensex fell 25.52 points at 33225 on Friday afternoon.

The Nifty midcap index was trading up by 0.16 percent led by Just Dial, Jaiprakash Associates, Just Dial, Siemens and Voltas.

Bank Nifty was also trading in the green, up 0.17 percent led by ICICI Bank, Bank of India and Yes Bank.

From the Nifty, the stocks that gained the most were Larsen & Toubro which was up over 4 percent while GAIL India added 2.19 percent. UltraTech Cement, ITC and ICICI Bank were the other top Nifty gainers.

The most active stocks included Just Dial, Tata Motors, Larsen & Toubro, Aurobindo Pharma and State Bank of India.

The top Nifty loser were Aurobindo Pharma which slipped over 4 percent while Tata Motors was down close to 4 percent. Asian Paints, Bosch and BPCL were the other top Nifty losers.

From the BSE, the stocks that gained the most included Gateway Distriparks which spiked over 13 percent while Rattan India, Jist Dial, Sobha and Redington India were the other top Sensex gainers.

The top losers were RComm which fell 5 percent followed by Videocon Industries, Tata Motors, Aurobindo Pharma and Chennai Petro.

53 stocks hit new 52-week high on the NSE including Bank of India, Jet Airways, Britannia Industries, Larsen & Toubro, Mphasis, Tata Global, Tube Investments, Voltas and V-Guard Industries.

From the BSE, the stocks that hit fresh 52-week high were Britannia Industries, Cera Sanitaryware, Balkrishna Industries, Goa Carbons and Vakrangee Software.

The market breadth was in favour of the declines on Friday afternoon with 773 stocks advancing as against 851 declines. On the other hand, 1178 stocks advanced and 1277 stocks declined on the BSE.

Global research firm BofAML has initiated a buy on Britannia Industries with a target price of Rs 5,500, potential upside of 16 percent and expects healthy upward trend in operating income to sustain.

Motilal Oswal has maintained a buy call on Tata Motors with a target of Rs 575 per share and has upgraded consolidated EPS estimates by 23 percent/6 percent for FY18/19.
Technical Analyst Ashwani Gujral of ashwanigujral.com has a buy on Balkrishna Industries with a stop loss of Rs 1,890 for target of Rs 1,960 and has a buy on UltraTech Cement as well with a stop loss of Rs 4,400 for target of Rs 4,550.