Infosys gained 1 percent on hopes of share buyback. Reliance Industries, Axis Bank, ONGC and Sun Pharma were other gainers while HDFC Bank fell 0.6 percent on profit booking.
TCS shares rallied 4 percent after the IT major has announced buyback of upto 5.6 crore equity shares (representing 2.85 percent of total paid up equity capital) at Rs 2,850 apiece, aggregating up to Rs 16,000 crore.
The broader markets climbed over a percent on positive breadth. About 1719 shares advanced against 1151 declining shares on the BSE.
The market continued its positive momentum and was trading at dayâs high. The bourses had seen a subdued opening, but reversed its losses in the first hour of trade.
Telecom stocks rallied after media reports indicated that Vodafone-Idea merger may be announced by end of current month. Idea Cellular, Reliance Communications, Bharti Airtel and Tata Teleservices were up 2-8 percent.
Idea Cellular shares rallied 3.6 percent as media reports suggested that Vodafone-Idea merger may be announced by end of the month. The rally also spilled over to other telecom stocks - Reliance Communications gained 6 percent and Bharti Airtel rose 2.5 percent.
Bharti Airtel, GAIL and TCS were the top gainers on the BSE, while HDFC, ITC and Maruti Suzuki were the top losers. Meanwhile, telecom stocks such as Idea Cellular and Bharti Airtel ruled the Nifty's top gainers list, while Hindalco, HDFC and Yes Bank were top losers.
TCS, HUL, GAIL, Wipro, Bharti Airtel, Idea Cellular, Kotak Mahindra Bank and HCL Technologies were early gainers while Maruti Suzuki, Tata Motors, HDFC Bank, ITC, Cipla, Tata Motors (DVR) and Eicher Motors were losers.
The BSE Sensex shot up 425 points in opening led by private banking financials - especially HDFC Bank - after RBI lifted the ban on FIIs investment; but erased more than half of gains due to some profit booking in banks and technology shares as the day progressed.
Sun Pharma, HDFC Bank, GAIL, ICICI Bank, Cipla and Tata Motors were top gainers while Infosys, Asian Paints, TCS, Hero Motocorp, Wipro, Bharti Infratel, Hindalco and Idea Cellular were under pressure.
The regulator is also in talks with the RBI to allow institutional investors like banks and Foreign Portfolio Investors to trade in the segment.
Sun Pharma gained for second consecutive session, up 2.75 percent on hopes of early USFDA clearance to its Halol facility, especially after Cadila did not get any observations for its Moriaya facility. Wockhardt also rose 3 percent.
Pharma stocks were in news today. Cadila Healthcare continued to gain after yesterday's strong run, up more than 5 percent as brokerages raised their target prices and earnings forecast on the stock.
Cadila Healthcare extended its rally, up 4 percent on top of 20 percent surge in previous session as its Moriaya facility did not receive any observations from USFDA post inspection.
HDFC Bank jumped 6 percent after the Reserve Bank of India has withdrawn the limit for purchase of bank's shares. The rally also spilled over to HDFC that was up 1.3 percent.
The company with Siemens Rail Automation S.A.U Spain have jointly won an order worth Rs 287 crore, out of which Siemens' share is Rs 146 crore.
On February 20, 2017 Bengal Assam Co. Ltd. bought 10,50,000 shares of Umang Dairies at Rs 74.25 on the NSE.
CNBC-TV18s Anisha Jain lists some of the key stocks which were buzzing in trade today.
The company is looking at an equity valuation of close to Rs 20,000 crore for its airports arm.
The company's stock has witnessed strong movements in the past one month, posting a jump of over 11 percent. In the past three days, the stock soared 12 percent.
Here are a few top buzzing midcap stocks picked by CNBC-TV18's analysts in trade today -- Havells, Lloyd Electricals, Idea Cellular, Jaiprakash Power, TCS, JSPL, Torrent Pharma, Amtek Auto, IDBI Bank and Mahanagar Gas.
The stock, even after a positive opening, failed to hold on to the momentum and plunged 15.15 percent to Rs 278.15 on the BSE.
On February 17, Anand Rathi Wealth Management acquired Religareâs interests in Wealth Management Business. Combined assets under management (AUMs) to cross Rs 13,500 crore after the deal is completed.
Kotak says JSPL's steel operations can engineer a financial turnaround over next 1-2 years by commissioning of 3.2 million tonne per annum blast furnace at Angul operations.
The stock has seen very strong movements in the past fifteen days, after having risen over 28 percent. It continued this momentum in the past three days as well, having risen 28.6 percent.
The company is propose to acquire 60 percent of the equity share capital of Vedica for Rs 150 crore and also debentures issued by Vedica of Rs 124 crore.
The stock has seen strong movements, with a rise nearly 12 percent in the past one month. In the past three days, it soared over 9.3 percent.
CMI's board meeting will be held on March 20 to consider amalgamation of CMI Energy India with self and issue of upto 5 lakh shares on preferential basis to promoters/promoter group.
According to a report in PTI, the companies are likely to announce a signing agreement by February 24-25. Telecom major has brought its ex-India unit chief Marten Pieters to work on the merger.
The said order is to be executed in next two quarters and it enables the company to establish a footprint for continued engagement in delivering digital cinema silicon and systems solutions.