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Indian equity indices ended on a negative note on May 13, a day after a record rally.
At close, the Sensex was down 1,281.68 points or 1.55 percent at 81,148.22, and the Nifty was down 346.35 points or 1.39 percent at 24,578.35. About 2507 shares advanced, 1311 shares declined, and 131 shares remained unchanged.
Power Grid Corp, Infosys, Eternal, TCS, and HCL Technologies were among the top losers on the Nifty, while gainers included Bharat Electronics, Jio Financial, Hero MotoCorp, Dr Reddy’s Labs, and Sun Pharma.
Among sectors, capital goods, media, PSU Bank, pharma indices rose 1-1.6 percent, while IT, metal, FMCG, oil & gas, realty indices shed 0.9-2.5 percent.
The broader market indices performed mixed, with the BSE Midcap index ending flat, while the Smallcap index added 1 percent.
STOCKS TODAY
BDL
Bharat Dynamics Limited and other defense company stocks surged by as much as 10% following Prime Minister Modi’s call for ‘Made in India’ defense equipment. The jump in stock prices led to nearly a 4 percent rise in the Nifty India Defence index. Bharat Dynamics (BDL) shares were the top gainer with an increase of 11.47 percent to Rs 1750 per share.
IIFL Finance
The Finance company’s stock saw a 5 percent increase after HSBC upgraded its rating to ‘Buy,’ with the firm forecasting a potential upside of up to 42 percent. This rise follows a strong performance in the past week, with the company’s share price gaining nearly 18 percent over the last five days.
Gensol Engineering
The shares of the company took a U-turn on May 13, and jumped 5 percent to get locked in the upper circuit at Rs 56.64 apiece. This comes after the stock crashed to get locked in the lower circuit for 17 consecutive sessions. The rise in the stock price comes a day after the firm announced that its Managing Director, Anmol Singh Jaggi, and Whole-time Director Puneet Singh Jaggi have resigned.
Bharti Airtel
Shares of Bharti Airtel came under selling pressure in Tuesday’s trading session, declining up to 3 percent ahead of the March quarter results. The results are due to be announced after the market hours. shares settled at Rs 1,824.50 per share on the NSE, down 2.47 percent. During intraday trade, it hit an intraday low of Rs 1,816.6 per share, down 2.9 percent.
Hero Motocorp
India’s major two-wheeler manufacturer, Hero Motocorp’s shares, rose 3 percent in today’s session. This comes after the firm posted earnings slightly better than estimates for the Quarter ended in March. Net profit for the quarter rose 6.4 percent from the year-ago period to Rs 1,081 crore.
Source – Money Control
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