Indices at day’s high as energy, pharma, metal stocks rally

Our Bureau Mumbai | Updated on May 10, 2021

Coal India, Hindalco, UPL, IOC and Divi’s Labs top gainers on Nifty 50

Benchmark indices were trading at day’s high Monday afternoon, thanks to a strong rally in energy, pharma and metal stocks.

The market, after opening on a positive note amid bullish global cues, extended gains in the first half. Following a strong closing in the US on Friday, most Asian markets were also ruling in the green.

Nifty may kiss 15000 again

At 1 pm, the BSE Sensex was at a day’s high at 49,601.59, up 395.12 points or 0.80 per cent. It hit an intraday low of 49,412.05. The Nifty 50 was ruling at 14,957.60, up 134.45 points or 0.91 per cent. It hit an intraday low of 14,892.50.

Coal India, Hindalco, UPL, IOC and Divi’s Labs were the top gainers on the Nifty 50 while Shree Cements, Ultratech Cement, Grasim, Britannia and Infosys were among the top laggards.

Coal India was the top gainer, up 5.52 per cent.

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OMCs on a high

The shares of oil marketing companies, including the Indian Oil Corporation (IOC), gained as petrol and diesel prices hit record highs across the country on Monday after rates were increased for the fifth time in a week. Petrol price was hiked by 26 paise a litre and diesel by 33 paise per litre.

IOC was up 3.80 per cent. HPCL and BPCL were up 1.3 per cent and 2.3 per cent respectively.

IT lags

On the sectoral front, all indices except Nifty IT were in the green.

Nifty IT was down 0.40 per cent.

Meanwhile, Nifty Pharma and Nifty Metal rallied on the NSE. Nifty Pharma was up 3.20 per cent. It hit an all-time high of 14,215.45. Nifty Metal was up 2.39 per cent. Nifty PSU Bank also recorded gains and was up 1.80 per cent.

Mid-cap, small-cap indices shine

All broader indices were also in the green as mid-cap and small-cap stocks outperformed the benchmarks.

Nifty Midcap 50 was up 1.20 per cent while Nifty Smallcap 50 was up 1.52 per cent. The S&P BSE Midcap was up 0.98 while the S&P BSE Smallcap was up 1.14 per cent.

The volatility index softened 2.30 per cent to 20.34.

Published on May 10, 2021

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