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POST-MARKET REPORT
Indian benchmark indices Sensex and Nifty climbed nearly 1% from the day’s low to close near the day’s high on Thursday.
At close, the Sensex was up 670.69 points, or 0.93%, at 73,663.72 while the Nifty 50 was up 203.30 points, or 0.92%, at 22,403.85.
Gainers and Losers on Nifty: 13 of the 50 stocks on the Nifty 50 were trading in the red. Maruti Suzuki India, Tata Motors, BPCL, SBI, and Power Grid Corp., were the top losers, while Mahindra & Mahindra, Tata Consumer Products, Bharti Airtel, Tech Mahindra, and LTI Mindtree, were the top gainers.
Gainers and Losers on Sensex: Seven of the 30 stocks on the BSE Sensex were trading in the red. Maruti Suzuki India, Tata Motors, SBI, Power Grid Corp., and IndusInd Bank, were the top drags, while Mahindra & Mahindra, Tech Mahindra, Bharti Airtel, Infosys, and JSW Steel, were the top gainers.
Sectoral Indices today: The PSU Bank was the biggest sectoral drag, losing 0.80%, while all the other sectoral indices were trading in the green. The Financial Services, IT, Media, Realty, and Consumer Durables indices were the top sectoral gainers.
Broader market indices today: The broader market was trading in the green, with the BSE MidCap gaining 1.04% and the BSE SmallCap having climbed 0.87%.
STOCKS TODAY
Somany Ceramics: Somany Ceramics surged more than 17 percent in trade after the firm’s management guided that it would post industry-beating volume growth for the current fiscal year. For the quarter ended March FY24, Somany reported volume growth of seven percent, coming ahead of expectations as well as industry peers.
Bharti Airtel: Bharti Airtel stock was the top Nifty gainer on May 16, jumping as much as 3 percent amid the Street optimism over impending tariff hikes, ARPU improvement, and 5G network expansion. Brokerages retained their bullish calls on Bharti Airtel despite the telecom major recording a 31.1 percent fall in consolidated net profit for the March quarter of the financial year 2023-24.
Ircon International: Shares surged around 7 percent, extending gains for the third straight session. The stock climbed on account of high volumes as around 3 crore shares changed hands on BSE and NSE combined, higher than the 1-month average trading volume of one crore shares.
Mankind Pharma: Shares of the pharma major fell around 5 percent, as the company clarified that the reports of Mankind Pharma planning to acquire Bharat Serums and Vaccines (BSV) from Advent PE are “speculative in nature” and warrant no disclosure under Regulation 30 of the Listing Regulations.
Honeywell Automations: From intraday lows, Honeywell Automations India’s stock price jumped more than 15 percent to a fresh 52-week high. The Indian arm of US conglomerate Honeywell International reported a significant rise in fourth-quarter profit on Wednesday, driven by strong industrial and infrastructure demand.
Titagarh Rail Systems: Shares skyrocketed over 9 percent after the company delivered robust earnings performance in the March quarter of FY24.The rail wagon manufacturer’s net profit for the quarter surged 64 percent on year to Rs 79 crore in Q4 FY24, up from Rs 48.2 crore clocked in the corresponding quarter of the preceding fiscal. Revenue also rose 8 percent on year to Rs 1,052.4 crore in the quarter gone by.