Sensex above 34K, Nifty clocks 10K-mark; Top 5 gainers and losers of the day

Sensex and Nifty have clocked over 34,000 and 10,000-levels before correcting.

Jun 03, 2020 03:06 IST India Infoline News Service

Bull and bear
The Wednesday's trading session was fruitful for the benchmark indices like Sensex and Nifty as they clocked over 34,000 and 10,000-levels before correcting. The Sensex was trading at 34,149.23 above 323.70  points or 0.96% at around 3.12 pm. At the same time, Nifty was trading at 10,078.10 up by 99 points or 0.99%. The Sensex has gained to an intraday high of 34,488.69.

Here's a list of top 5 gainers and losers who partook in the movement of Indian markets. The stock performance mentioned below is shown in Sensex.

Gainers:

Mahindra & Mahindra: The auto stock took lead in the gainers to list trading at Rs484.50 per piece, up 4.76%. M&M estimates quantum of loss due to Covid-19 lockdown for Q1FY21 to be around 87,000 vehicles and around 30,000 tractors. The revenue and profitability will be impacted in-line with the fall in volumes. The company will announce Q4FY20 result next week.

Bajaj Finance: The stock was performing at Rs2409.90 per piece, up 2.69%. The company is seen as well placed in the industry amid Coronavirus pandemic, after it recorded better than expected quarterly result ending March 2020.

Kotak Mahindra Bank: The private lender extended gains for the third consecutive day after it issued QIP. The stock was performing at Rs1,376.80 per piece up 2.50%. The bank has allotted 6,50,00,000 shares at a price band of Rs 1,145 per equity share through QIP to raise Rs7,442.5cr.

ICICI Bank: The lender was trading at Rs356.90 per piece, up 2.41%. The lender has trimmed down savings account interest rates by 25 basis points.

SBI: The PSB was trading at Rs74.05 per piece, up 2.23%. Moody's Investors Services have downgraded the rating of SBI by "Baa3” from previous “Baa2”. Also, the bank has cut savings deposits account interest rate by 5 basis points.

Losers:

NTPC: The company slumped by 2.02% at Rs94.80 per piece. Moody's has affirmed the baseline credit assessments (BCAs) for NTPC at baa3.

IndusInd Bank: The bank was performing at Rs428.50 per piece, down 1.46%. Moody's downgraded IndusInd's long-term local & foreign currency deposit ratings to Ba1 from Baa3 & its BCA to ba2 from ba1.

Bharti Airtel: The telecom company traded lower by 1.25% at Rs551.05 per piece. Nodwin Gaming and Airtel announced the partnership to take Esports in India to the next level.

Hero Motocorp: The two-wheeler giant was trading at Rs2,298.80 per piece, down 0.97%. The company dispatched 112,682 units of two-wheelers in May 2020.

Maruti Suzuki: The stock was down by 0.91% trading at Rs5636.05 per piece. Total sales in May 2020, stood at 18,539 units. This included
13,865 units in Domestic market and sales of 23 units to other OEM.

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