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Market Analysis 25-05-2021
Sensex and Nifty swing between gains and losses. Selling pressure seen in banking and financial services stocks. Buying interest witnessed in auto, metal, IT and FMCG counters. JSW Steel top Nifty50 gainer, up 3%. Asian Paints, Titan, Britannia, Nestle and Eicher Motors among other top performers. HDFC Bank top loser, down 2%. IndusInd Bank, Axis Bank, Coal India, RIL and Kotak Mahindra Bank among other laggards.
Top Stories of the day:
Stride Ventures: Last Investment firm Strides Ventures on Tuesday announced a debt fund for Indian startups with corpus that can go up to Rs 1,875 crore. The firm will continue investing in early to late-stage startups with ticket size from the new fund expected to go up to Rs 70 crore, Strides Ventures said in a statement.
Barbeque-Nation: Barbeque-Nation Hospitality share price hit 20 per cent limit of upper circuit at Rs 767.50 apiece in intraday deals on BSE after the company posted revenues of Rs 226 crore in Jan-Mar quarter of FY21.
Panacea Biotec: Shares of Panacea Biotec hit the upper circuit on Tuesday as the company along with the Russian Direct Investment Fund (RDIF) announced the launch of the production of Sputnik V coronavirus vaccine in India.
Closing bell:
Domestic equity market benchmarks BSE Sensex and Nifty 50 index slipped into the red in afternoon deals on Tuesday. BSE Sensex was hovering over 50,600 while the broader Nifty 50 index gave up 15,200. Nestle India was the top Sensex gainer, followed by Asian Paints, Titan Company, Bajaj Finsv, Mahindra & Mahindra, ONGC, Tech Mahindra among others. HDFC Bank was the only Sensex laggard, down over half a per cent. Except for Nifty PSU Bank and Nifty Private Bank indices, all the sectoral indices were trading in the positive territory. Nifty Metal index gained 1.4 per cent, and Nifty FMCG index was up nearly one per cent.