Indian Stock Market Sees Minor Gains Amid Mixed Performance on May 13
Top Gainers & Losers on May 13: SAIL, Dixon Tech, Vodafone Idea, HPCL, Berger Paints, Ather Energy among top gainers
Mint
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On May 13, Indian equities showed modest recovery after four days of losses, with the Nifty 50 rising 0.14% to 23,412 and the S&P BSE Sensex gaining 0.08% to 74,615. Strong performances from metal and oil & gas stocks contributed to this uptick, while broader indices like the Nifty Midcap 100 advanced 0.74%.
- 01Nifty 50 rose 0.14% to 23,412 and S&P BSE Sensex gained 0.08% to 74,615.
- 02Metal stocks were the top performers, with Steel Authority of India surging 14%.
- 03Dixon Technologies shares increased 9.8% following better-than-expected quarterly earnings.
- 04Pine Labs was the biggest loser, dropping 13.7% after its pre-IPO lock-in period expired.
- 05Broader market indices like Nifty Midcap 100 and Nifty Smallcap 100 also showed positive trends.
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On May 13, Indian stock markets managed to recover slightly after four consecutive days of losses. The Nifty 50 index increased by 0.14% to close at 23,412, while the S&P BSE Sensex rose by 0.08% to 74,615. This recovery was supported mainly by strong buying in metal and oil & gas stocks. Notably, the Nifty Midcap 100 index outperformed the frontline indices, gaining 0.74%, and the Nifty Smallcap 100 index rose 0.24%, indicating a shift in market sentiment towards the bulls. The surge in metal stocks was led by the Steel Authority of India, which saw a remarkable 14% increase, closing at ₹200 per share. Other metal stocks like Vedanta and Hindustan Copper also performed well, each gaining over 3%. Additionally, Dixon Technologies reported better-than-expected earnings, resulting in a 9.8% increase in its stock price to ₹11,131. However, Pine Labs faced significant losses, plunging 13.7% to ₹162.2 after the end of its six-month pre-IPO lock-in period. Overall, while some sectors thrived, others experienced notable declines, reflecting a mixed performance in the market.
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The modest recovery in the stock market may boost investor confidence and encourage further investments, particularly in the metal and oil sectors. Homebuyers and consumers could see indirect benefits if companies in these sectors perform well and contribute to economic stability.
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