Top Gainers & Losers on May 13: SAIL, Dixon Tech, Vodafone Idea, HPCL, Berger Paints, Ather Energy among top gainers

After four straight sessions of losses, Indian equities ended Wednesday’s trade on May 13 with modest gains, although the benchmark indices pared a large part of their intraday advances. Strong buying in metal and oil & gas stocks helped support the recovery, with the Nifty 50 settling 0.14% higher at 23,412 compared to Tuesday’s close.

The S&P BSE Sensex gained 0.08% to settle at 74,615. However, the broader markets outperformed the frontline indices, with the Nifty Midcap 100 index advancing 0.74%, while the Nifty Smallcap 100 index rose 0.24%, indicating that market breadth turned in favour of the bulls.

The Indian government on Tuesday increased import tariffs on gold, silver, and other precious metals from 6% to 15% to preserve foreign exchange reserves. The announcement came just days after Prime Minister Narendra Modi urged citizens to avoid gold purchases for one year.

Over the previous four sessions, both the Nifty and Sensex had lost more than 2% of their value, erasing part of the rally seen in April, as the US-Iran deadlock pushed crude oil prices higher and intensified concerns over the broader economic fallout from the conflict.

Tensions in the Middle East are expected to escalate, with the Strait of Hormuz being effectively shut and tightening global oil supply, with the impact being felt particularly across Asian economies.

Metal pack rallies sharply

Metal stocks emerged as the top performers, with 14 out of the 15 constituents of the Nifty Metal index ending the session with strong gains.

Leading the rally was the Steel Authority of India, which surged 14% to ₹200 apiece. It was followed by Vedanta, Hindustan Copper, NMDC, Hindustan Zinc, Adani Enterprises, National Aluminium Company, Tata Steel, Hindalco Industries, and Lloyds Metals and Energy, all of which closed with gains of over 3%.

Better-than-expected March quarter earnings pushed Dixon Technologies shares 9.8% higher to ₹11,131 apiece, while Berger Paints India also reacted positively to its quarterly results, rallying 5.2% to ₹513.3 apiece.

A mild pullback in crude oil prices boosted crude-sensitive stocks, with all three oil marketing companies, Hindustan Petroleum Corporation, Bharat Petroleum Corporation, and Indian Oil Corporation, surging up to 6%. Likewise, Asian Paints shares settled 4.6% higher at ₹2,620 apiece.

EV stocks Ather Energy and Ola Electric Mobility also witnessed renewed buying, advancing 3% and 2.8%, respectively. New-age technology stocks such as Meesho and Urban Company gained 6% and 3.5%, respectively. Similarly, PhysicsWallah and Groww rallied 3.4% and 2.9%, respectively.

Other notable gainers included, Vodafone Idea, Suzlon Energy, BEML, Bharat Heavy Electricals, Godfrey Phillips India, Aarti Drugs, and Belrise Industries, all of which closed with gains of over 3%.

Pine Labs, Birlasoft among major

Pine Labs emerged as the top laggard of the session, plunging 13.7% to ₹162.2 apiece after the expiry of the stock’s six-month pre-IPO lock-in period. Meanwhile, Torrent Power and eClerx Services declined 8.8% and 6.5%, respectively.

Cohance Lifesciences also came under heavy selling pressure, with the stock ending the session down 6% at ₹457 apiece. Similarly, Sun TV Network, Poly Medicure, Birlasoft, Syrma SGS Technology, Affle 3i, Tata Power Company, Brigade Enterprises, Syngene International, Zensar Technologies, Max Financial Services, and Neuland Laboratories all ended with losses of over 3%.

Disclaimer: We advise investors to check with certified experts before making any investment decisions.