Get App
POST-MARKET REPORT
Indian benchmark indices remained muted throughout the day and closed lower or flat for the second day straight on Wednesday, as investors treaded cautiously amid uncertainty about the way the 2024 Lok Sabha elections were progressing.
At close, the Sensex was down 45 points (0.1 percent) at 73,466.39, while Nifty 50 gained 4.50 points and ended flat at 22,302.50.
Gainers and Losers on Nifty
23 of the 50 stocks on the Nifty 50 were in the red. Dr Reddy’s, Asian Paints, Hindustan Unilever, SBI Life, and HDFC Bank were the top drags, while Hero MotoCorp, BPCL, Power Grid Corp., Tata Motors, and Hindalco, were the top gainers.
Gainers and Losers on Sensex
14 of the 30 stocks on the BSE Sensex were in the red. Asian Paints, Hindustan Unilever, UltraTech Cement, HDFC Bank, and HCLTech, were the top drags, while Power Grid Corp., Tata Motors, NTPC, Larsen & Toubro, and Maruti Suzuki India, were the top gainers.
sectoral Indices performance
Across sectors, the Bank, Financial Services, PSU Bank, IT, Pharma, Healthcare and Consumer Durables indices were trading in the red, while the Oil & Gas, Auto, Metal, Media, PSU Bank, Media, FMCG, and Realty indices were trading in the green.
Broader market indices today
The broader market was in the green, with the BSE MidCap index up 0.73%, and the BSE SmallCap index up 0.55%.
STOCKS TODAY
Jupiter Wagons: Jupiter Wagons has posted an over two-fold jump in its standalone net profit to Rs 104.22 crore in the March quarter, on account of higher income. It had reported a net profit of Rs 40.78 crore in the January-March period of FY 22-23, the company said in a statement on Wednesday.
Bharat Forge: Bharat Forge shares soared over 15 percent to hit a fresh 52-week high of Rs 1,474.4 on May 8 after the company reported a 59.3 percent year-on-year rise in net profit for Q4FY24 at Rs 389.6 crore. Total revenue of Bharat Forge jumped 16.6 percent to Rs 2,328.5 crore in Q4, from Rs 1,997.3 crore a year ago.
HUDCO: Shares of Housing and Urban Development Corporation (HUDCO) jumped 8 percent on May 8 on heavy volumes and technical bullishness. According to analysts, a strong bounce back from lows including the Nifty Smallcap also led both stocks to rise significantly in intraday trade.
Vijaya Diagnostic: Vijaya Diagnostic reported a 22 percent year-on-year rise in consolidated net profit at Rs 33 crore for the March quarter of the financial year 2023-24. The company reported a net profit of Rs 27.7 crore in the year-ago period. Revenue came in at Rs 155 crore, up 29 percent from Rs 120 crore last year, the company, which provides diagnostic services, said in an exchange filing on May 8.
Paytm: Shares of Paytm, owned by One 97 Communications, saw a decline of over 4 percent to Rs 320 per share on May 8. This fall comes amid reports indicating that Aditya Birla Finance, one of the fintech firm’s key lending partners, invoked loan guarantees due to repayment defaults from customers. The stock hovered close to its all-time low of Rs 318, seen on February 16, 2024.
Pidilite: Shares of Pidilite Industries fell over 5 percent on May 8, the biggest intraday fall in 4 months. The sharp decline comes a day after the adhesives, sealants, and construction materials manufacturer reported a mixed set of numbers for the quarter ended March 2024. The company’s consolidated net profit for the quarter rose 19.3 percent on-year to Rs 364 crore while revenue grew 7.9 percent to Rs 2,902 crore, missing street estimates.
Sonata Software: Shares of Sonata Software plummeted 14 percent on May 8, a day after the company posted weak earnings for the quarter that ended March 2024. The global IT services and technology solutions company reported a 3 percent year-on-year drop in net profit at Rs 110.4 crore. Its revenue from operations, however, rose 14.53 percent YoY to Rs 2,191.6 crore in the March quarter.