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Indian equity indices ended on a negative note on May 16, this occurred after recording a seven-month high in the previous session.
At close, the Sensex was down 200.15 points or 0.24 percent at 82,330.59, and the Nifty was down 42.30 points or 0.17 percent at 25,019.80. About 2525 shares advanced, 1312 shares declined, and 134 shares remained unchanged.
Bharat Electronics, Bajaj Auto, Adani Enterprises, Tata Consumer, and Eternal were among the major gainers on the Nifty, while losers were Bharti Airtel, JSW Steel, Infosys, SBI, and HCL Technologies.
Among sectors, media, power, PSU, realty, and capital goods indices are up 1-1.7 percent, while the IT index is down nearly 1 percent.
Broader indices outperformed the main indices with the BSE Midcap index rising 0.8 percent and the smallcap index added 1 percent.
STOCKS TODAY
PB Fintech
The shares of Policybazaar-parent PB Fintech were higher by over 3 percent in early trade on May 16 after the company reported a massive 184 percent on-year surge in net profit to Rs 171 crore for the fourth quarter of FY25. But, started to decline on the intraday and decreased around 1.25 percent and closed at Rs 1775.40.
IndusInd Bank
Shares of IndusInd Bank staged a massive 4.6 percent recovery to close the session almost a percent higher despite brokerages turning more cautious after the lender disclosed two new accounting lapses. Analysts have not only downgraded the stock but also flagged sharp cuts to earnings estimates for FY25 through FY27.
Titagarh Rail Systems
This railway share soared over 13 percent in trade, after having fallen over 65 percent from its recent highs in March this year. The stock has now recovered nearly 40 percent from its 52-week low, though it is still around 52 percent away from its 52-week high level. Investors have found interest in Railway shares after a sustained period of selloff from recent highs, even as the benchmark indices struggled in the red during the session, supported by a strong momentum in defence-related shares.
Angel One
The capital market player Angel One’s shares were the top gainer in the pack of capital market stocks, rising over 8.5 percent to close at a six-month high level of Rs 2,788 apiece. The stock has now extended gains for the fifth consecutive session this week.
Vodafone Idea
Shares of the Indian telecommunications company has seen an increase of 1.66 percent on May 16, despite the company’s warning to the government that it cannot operate beyond the current financial year without its support, and may have to go for insolvency, reducing the value of Centre’s stake to nil, in that case.
Source – Money Control
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