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Market Analysis 26-05-2021
Domestic benchmark equity indices closed with gains Wednesday. Sensex gained 379 points to close at 51,017 while Nifty 50 was above 15,300. Bajaj Finserv, Infosys, Bajaj Finance, and Mahindra & Mahindra were the top index gainers. Broader markets closed with gains, except Nifty Next 50 and the Midcap 50 index. India VIX skyrocketed 11.11% on closing. Bank Nifty was in the green, Nifty Metal and the PSU Bank index closed in the negative.
Top Stories of the day:
LT Foods: The Company had reported a 2.38 per cent increase in consolidated net profit to Rs 59.73 crore for the fourth quarter of 2020-21. It posted a net profit of Rs 58.34 crore in the same quarter previous fiscal, it said in a regulatory filing.
Godawari Power: The company shares soared 9 per cent on Wednesday after the company reported multifold jump in consolidated net profit for March quarter. The company reported a profit of Rs 304.01 crore for the quarter ended on March 31, 2021, up almost 10 times from Rs 34.22 crore reported for the year-ago period. Total income rose to Rs 1,263.67 crore from Rs 787.74 crore a year ago.
Alembic Pharmaceuticals: Alembic Pharmaceuticals has received license to manufacture Liposomal Amphotericin B Injection 50 mgNial (Lyophilized) from Drugs Controller General of India and Food & Drug Control Authority, Gujaratm, company said in its release.
Closing bell:
Sensex rallies 380 pts to top 51k, Nifty takes winning run to 4th day, ends above 15,300; led by IT, realty stocks.