Top Nifty Gainers and Losers for May-21

Metal stocks did come in for some valuation concerns at higher levels but that gap was more than made up by stocks in banking and the oil & gas sectors.

Jun 02, 2021 07:06 IST India Infoline News Service

Nifty ended May-21 gaining an impressive 6.51% in the month to close at life-time high levels of 15,583. Metal stocks did come in for some valuation concerns at higher levels but that gap was more than made up by stocks in the banking and the oil & gas sectors. They were also among the top gainers during the month.

The big positive story in May-21 came from UPL. With a normal and on-time monsoon predicted by the IMD, the agrochemicals manufacturer gained nearly 34% in May. Of course, the structural story of India becoming a chemicals base still continues.

Oil was a surprise winner in the week. With Brent crude inching towards $70/bbl, IOC gained 22%, GAIL 20% and BPCL gained 13% in the month. The fourth quarter also saw sharply higher GRMs and inventory translation gains for oil companies.

Financials were not too far behind. After an uncertain April, Indiabulls Housing gained 19.9% in May after the HDFC origination tie-up. A positive quarterly surprise from SBI in Q4 also resulted in 16.77% gains in May-21. Tata Steel remains a star gaining 15.88% in May-21.

In a month when Nifty was up 6.51%, there were no Nifty losers. But there were some tepid performers. As the rupee gained strength, TCS gained just about 1.12% and HCL Tech just 2.3% in the month of May.

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