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Market Analysis 10-05-2021
Sensex ends 84 pts higher after choppy trade, Nifty ends above 14,850; metal, IT stocks rally. Sun Pharma and IndusInd Bank were the top Sensex gainers while Bajaj Finance, Asian Paints, HUL, and Tech Mahindra were the only stocks on Sensex to close in red. Nifty Pharma index surged 4.3%, Bank Nifty managed to end 1.79% higher. Volatility index slipped to end below 22 levels.
Top Stories of the day:
Amara Raja Batteries: The company has resumed operations in a few of its plants in Andhra Pradesh after the High Court of Andhra Pradesh has interim suspension of the orders passed by the Andhra Pradesh Pollution Control Board.
DMart: DMart hypermarket chain reported a 52% on-year jump in net profit during the January-March quarter to Rs 414 crore, with 18% on-year revenue growth. The strong performance was helped by the low base of the previous year. Currently, Avenue Supermarts share price is down 0.71%, trading at Rs 2,868 per share.
Hero MotoCorp: Hero MotoCorp share price fell nearly one per cent to Rs 2,833.70 apiece intraday on BSE, after the two-wheeler manufacturer decided to extend shutdown by another week across its facilities which had begun in April.
Closing bell:
Sensex ended 424 points higher on Wednesday while the Nifty 50 index closed above 14,600. Dalal Street saw pharma stocks surge higher with the Nifty pharma index jumping 4.31% on closing. Sun Pharma was the top Sensex gainer.