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POST-MARKET REPORT
Indian stock market benchmarks, the Sensex and the Nifty 50 snapped their five-day winning streak on Friday, April 26, amid mixed global cues.
At close, the Sensex was down 609.28 points or 0.82 percent at 73,730.16, and the Nifty was down 150.30 points or 0.67 percent at 22,420.
Gainers and Losers on Nifty
15 of the 50 stocks on the Nifty 50 were in the green. Tech Mahindra, Divi’s Laboratories, LTIMindtree, Bajaj Auto, and Coal India, were the top gainers, while Bajaj Finance, Bajaj Finserv, IndusInd Bank, Nestle India, and Mahindra & Mahindra, were the top drags.
Gainers and Losers on Sensex
Only six stocks, Tech Mahindra, Wipro, ITC, Titan, Axis Bank, and UltraTech Cement, out of the 30 stocks on the BSE Sensex were in the green, while Bajaj Finance, Bajaj Finserv, IndusInd Bank, Nestle India, and Mahindra & Mahindra, were the top drags.
Sectoral indices performance
The Financial Services and Bank indices were the biggest losers of the day; they were 1.03% and 0.76% down, respectively, while the Auto and Metal indices were also down 0.32% and 0.26%, respectively.
Furthermore, the Consumer Durables index had gained the most at 1.72%, followed by the Media index, which was up 1.20%. IT, Pharma, Healthcare, Realty, and Oil & Gas indices were also in the green.
Broader market indices
The broader market had outperformed the benchmark indices and was trading in the green, with the BSE MidCap index gaining 0.73%, and the BSE SmallCap index gaining 0.26%.
STOCKS TODAY
IndiGo: Shares of Interglobe Aviation surged 3 percent after the company placed an order for 30 firm A350-900 aircraft from Airbus, which will enable the aviation major to expand its network. At present, IndiGo operates a fleet of more than 350 aircraft.
Olectra Greentech: The Olectra Greentech stock fell over 3 percent after the company posted a weak set of earnings for the March quarter. Its consolidated net profit declined to Rs 13.71 crore against Rs 27.01 crore in the year-ago period. Revenue declined to Rs 288.81 crore from Rs 375.91 crore.
Vedanta: Shares of Vedanta advanced 4 percent a day after the metals and mining player reported better-than-expected results for the fourth quarter. Vedanta reported a 27 percent decline in profit at Rs 1,369 crore, driven by surging finance costs and weak prices of metals such as zinc, copper, and aluminum.
Tech Mahindra: Shares of Tech Mahindra rallied 7 percent after the company’s CEO and MD Mohit Joshi on April 25 unveiled a three-year roadmap to turn around the IT services major’s slowing business, intending to drive better revenue growth than peer average and optimize margin improvement by FY27.
Zensar Technologie: Shares of Zensar Technologies jumped 7 percent after the company’s net profit rose 7 percent to Rs 173.3 crore from the year-ago period. Revenue was up 2.1 percent quarter-on-quarter (QoQ) at Rs 1,229.7 crore. The company’s order book grew to $181.5 million from $174.9 million in the year-ago period and $167.5 million in the December quarter.
Cyient: The Cyient stock fell over 1 percent after the management guided for FY25 revenue growth in the high single digit, which was lower than expectations. The IT player’s consolidated revenue in the March quarter rose 2.2 percent sequentially to Rs 1,861 crore, while net profit came in at Rs 196.9 crore, up 28.5 percent.
IndusInd Bank: Shares of IndusInd Bank fell over 3 percent despite the March quarter results coming in line with the street’s expectations. The lender’s net profit (PAT) grew 15 percent on-year to Rs 2,350 crore, aided by healthy revenue growth and lower provisions.