Best Stocks to Buy – Sensex, Nifty End Lower: Stocks That Moved The Most On May 11
The Indian benchmark indices ended the trade lower on Tuesday, pulled primarily by financials and metals. Except for Nifty Pharma, all of the Nifty sectoral indices were in the red, with the Nifty Metal index bleeding the most, down 2.2 percent.
Sensex ended lower by 340.60points or 0.69% at 49161.81, and the Nifty fell to -91.60 at 14850.80.
Stocks in banking and financials, information technology, metals, and pharmaceuticals were all under pressure, but PSU banks defied the trend.
HSIL’s stock jumped more than 7% intraday on May 11, a day after the sanitaryware and packaging products manufacturer announced a multi-fold increase in net profit for the fourth quarter ended March 2021, to Rs 33.02 crore.
On the back of strong volumes, shares of Bharat Heavy Electricals Limited (BHEL) rose 14% to Rs 75.15, a 21-month high on the BSE in an otherwise weak market on Tuesday.
Punjab National Bank shares dropped after the company launched an eligible institutional placement (QIP) bid to collect up to Rs1,800 crore from institutional investors
Dr Reddy‘s Labs and Cadila Health lead the way higher in the pharma sector, Glenmark reaches a new 52-week high.
The biggest index loser today was Kotak Mahindra Bank (down 3%), followed by HDFC, Tech Mahindra, HUL, Bajaj Finser, Titan Business, and Bajaj Finance.
JSW Steel, Hindalco, Wipro, and Divis Labs were among the Nifty index’s other losers.
NTPC, ONGC, PowerGrid, Sun Pharma, UltraTech Cement, and SBI, on the other hand, were the top gainers, up between 1% and 5%. Additional gainers included Coal India, Indian Oil Corporation, BPCL, and UPL.
In afternoon trade, MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.6 percent, the most since late March, while Japan’s Nikkei fell 3.16 percent. Meanwhile, the Hang Seng technology index fell 3%.
The STOXX 600 index dropped 1.9 percent in Europe, while the main bourses in Frankfurt, Paris, and London all lost close to 2%.
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