BackTop gainers, losers in trade today: IndusInd Bank, Indiabulls Real Estate, Mankind; check full list here
Markets ended flat on Tuesday as weak global cues dampened sentiment. Both Sensex and Nifty 50 ended flat. IndusInd Bank, TCS, and Divis Lab were among the top gainers. Indiabulls Real Estate hit a 20% lower circuit, becoming the top loser on BSE and NSE.
PremiumIndian market witnessed a dull day on Tuesday as weak global sentiments took hold. Upcoming macroeconomic data and Q4 numbers are the focal point to dictate the market's trend. Among the most active stocks were Indiabulls Real Estate, Firstsource Solutions, ITC, SBI, IndusInd Bank, and Divis Lab among others. Also, Mankind Pharma stock clocked a stellar performance on its listing day!
Sensex closed flat at 61,761.33. Similarly, the Nifty 50 also ended on a muted note at 18,265.95.
In the broader market, small-cap stock were worst hit with the index dipping by more than 100 points on BSE. However, midcap and BSE Sensex Next 50 were in the green. In terms of sectoral indices, auto and IT stocks were top gainers, while consumer durables and banking stocks tumbled the most.
On May 9th trading session, about 1,577 stocks have advanced, 1,921 stocks declined while 142 stocks remained unchanged. Furthermore, 136 stocks touched fresh 52-week high and 25 stocks hit a new 1-year low.
As of May 9, 2023, BSE-listed firms market cap was more than ₹276.27 lakh crore.
Talking about the today's market performance, Vinod Nair, Head of Research at Geojit Financial Services said, "The domestic market relinquished its gains as weak global sentiments took hold. The upcoming US inflation figures have become the focal point in determining the global market trend."
Read here: Stock Market Today: Sensex, Nifty end flat on fag-end selling; PSU banks suffer deep cuts
He further added, “The US inflation rate, which is expected to remain unchanged at its March level of 5.0%, is causing worries that the Fed will remain stricter for long. However, the sustained support from FIIs is guarding the domestic market from a steep correction."
Here are the top gainers and losers that traded the most today:
Sensex:
Top gainers: IndusInd Bank (+1.28%), Axis Bank (+1.09%), TCS (+1.04%), M&M (+0.9%), and Tata Motors (-0.7%).
Top losers: ITC (-1.74%), SBI (-1.71%), Bajaj Finance (-1.58%), NTPC (-1.02%), and Power Grid (-0.84%).
Nifty 50:
Top gainers: Divis Lab (+3.09%), IndusInd Bank (+1.36), Coal India (+1.33%), TCS (+1.27%), and Axis Bank (+1.09%).
Top losers: UPL (-3.03%), ITC (-1.70%), SBI (-1.70%), Bajaj Finance (-1.5%), and JSW Steel (-1.08%).
BSE:
Top gainers: Firstsource Solutions (+10.72%), Jindal Poly (+10.08%), Optiemus Infracom (+8.74%), Mahanagar Gas (+7.49%), and Birlasoft (+7.14%).
Top losers: Indiabulls Real Estate touched 20% lower circuit, Apar Industries (-14.78%), Indian Bank (-5.91%), Adani Transmission (-5%), and NCC (4.85%).
Read here: Indiabulls Real Estate shares hits 20% lower circuit as merger plans faces delays; check details
NSE:
Top gainers: Mankind Pharma (+32.41%), AYM Syntex (+17.15%), Jai Balaji Industries (+15.54%), Stylam Industries (+15.32%), and SMS Lifesciences (+13.35%).
Top losers: Indiabulls Real Estate (20% lower circuit), Sterling Tools (-14.93%), Apar Industries (-14.91%), Vikas Ecotech (-10.29%), and Faze Three (-9.15%).
Going ahead, Mitul Shah - Head of Research at Reliance Securities said, the markets will keep one eye on the quarterly results & the management commentary while also focusing on the US regional banking crisis, US government debt concerns, inflation and the crude oil prices. Meanwhile, as expected the Fed Reserve increased interest rates by 25bps. Indian bond yields have corrected by ~50bps from its peak to 7.02% lowering the borrowing cost for government and corporates. Steep correction in Brent crude prices is an additional tailwind for the Indian economy.
India is set to release its IIP and CPI data this week. Along side, stock-specific movement will be at large with Q4 earnings in focus.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
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