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India’s equity indices Nifty and Sensex staged a smart rebound on Wednesday, May 21, to snap a three-day losing streak.
At close, the Sensex was up 410.19 points or 0.51 percent at 81,596.63, and the Nifty was up 129.55 points or 0.52 percent at 24,813.45. About 2214 shares advanced, 1615 shares declined, and 126 shares remained unchanged.
BEL, Cipla, Tata Steel, HDFC Life, and Bajaj Finserv were among the major gainers on the Nifty, while losers were IndusInd Bank, JSW Steel, Kotak Mahindra, COAL India, and Power Grid Corp.
Among sectoral gainers, Nifty Realty was the top performer, rising 1.7 percent, followed by Nifty Pharma and Nifty PSU Bank, which gained 1.3 percent and 0.7 percent, respectively. Other gainers included Nifty IT and Nifty Metal, which were up 0.7 percent and 0.4 percent, respectively. Among the losers, Nifty Consumer Durables declined 0.5 percent.
Broader markets also ended higher, though they underperformed the frontline indices in the second half of the session.
STOCKS TODAY
IndusInd Bank
Shares of IndusInd Bank were trading 1.5 percent lower intra-day ahead of the lender’s March quarter results, scheduled to be released later in the day. The lender is expected to post a weak financial performance for the March quarter (Q4FY25), weighed down by recently uncovered accounting discrepancies. The shares closed at Rs 766.80 per share.
PFC
Power Finance Corporation’s shares rose nearly 3 percent on May 21 after the company released its results for the fourth quarter of the current financial year. The government-owned PFC reported a net profit of Rs 8,358 crore for Q4 FY25, marking an increase of nearly 11 percent from the Rs 7,556.4 crore net profit reported in Q4 FY24.
Dixon Technologies
Noida-based Dixon Technologies Ltd. shares tumbled over seven percent during the early session on Wednesday, May 21, as investors rushed to book profits in the firm’s stock following its earnings show for the quarter ended March. The shares closed at nearly 6 percent lower than the previous trading session at Rs 15,598.00 per share.
BEL
Defence electronic systems supplier Bharat Electronics Ltd. shares gained 5.26 percent after brokerages rolled out reports, following the public sector undertaking’s analyst call for the quarter ended March FY2025. The company reported an 18.4 percent increase in consolidated net profit to Rs 2,127 crore in the March quarter, on account of higher revenues, as against Rs 1,797 crore in the January-March period of FY2024, the company said in an exchange filing.
Zydus Lifesciences
Shares of the company were trading higher today by nearly a percent, after the company posted its Q4 results yesterday. The pharmaceutical firm reported a 34% year-on-year increase in net profit at Rs 1,182 crore, supported by strong growth in its US formulations business and steady performance across other segments. The shares closed at Rs 890.00 per share.
Source – Money Control
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