Get App
Market Analysis 11-05-2021
Sensex tanks 500 pts and holds at 49000, and Nifty ends at 14,850. IndusInd Bank, ONGC, Housing Development Finance Corporation (HDFC), Kotak Mahindra Bank, M&M, ICICI Bank, Maruti Suzuki were among top Sensex losers. Sun Pharma, Nestle India, Dr. Reddy’s Laboratories were trading up to 1.15 per cent higher.
Top Stories of the day:
HFCL: Shares of HFCL jumped as much as 12 per cent on Tuesday as the company reported a multifold jump in the net profit during the March quarter. The company, with a current order book of Rs 6,875 crore, has firmed up its 5G plans.
HSIL: Shares of HSIL soared as much as 10 per cent on Tuesday after the company reported several-fold jump in its net profit in the March quarter.
JSW Steel: JSW Steel on Tuesday said its crude steel output jumped over two-fold to 13.71 lakh tonne (LT) during April 2021. The company had produced 5.63 LT in April 2020, JSW Steel said in a statement.
Sun Pharma: Share price was up over 2 percent in the morning session and was also the top sectoral gainer, rallying more than 5 percent in the two days. US drug maker Eli Lilly and Co. said it has issued royalty-free, non-exclusive voluntary license to Sun Pharmaceutical Industries to produce its baricitinib drug in India to help combat the second wave of COVID-19 in India.
Closing bell:
Sensex ends red at 49,161 and Nifty 50 at 14,850. Bank stocks hit worst ending in red and dragging the market down. Pharma Stocks held Nifty high despite the strong red from Bank Nifty, preventing a steep fall.