Top 5 gainers and losers of Sensex - Here's what moved them!

One of the reasons which impacted the sentiments of Sensex can be attributed to buying and selling in some major stocks.

May 22, 2020 09:05 IST India Infoline News Service

Stock market report with bull and bear
Just a couple of minutes before this week's trading session endsed the Sensex was trading at 30,622.79 down by 310.11 points or 1% at around 3.04 pm. One of the reasons which impacted the sentiments of the benchmark can be attributed to buying and selling in some major stocks.

Here's a list of 5 gainers and losers on Sensex along with what moved them!

Top gainers:

Mahindra & Mahindra: The automaker took lead in the gainers' list by rising 3.81% trading at Rs423.90 per piece on Sensex. M&M's subsidiary namely Mahindra Renewables agreed to sell 93,15,000 Equity Shares of Rs10 each held by MRPL in Neo Solren Private for consideration of Rs104.67cr.

Infosys: The IT-major was second in lead by trading at Rs690.05 per piece up by 2.75%. US court has dismissed the lawsuit which was filed against the company and certain officers.

Asian Paints: The stock was trading at Rs1616.05 per piece up by 2.61%. The company launched a digital campaign assuring painters and their families of having safe painting service.

Ultratech Cement: The stock was trading at Rs3,637.70 per piece up by 1.88%.The company has recorded a 3-fold jump in net profit to Rs3,243cr during March 2020 quarter. It has announced a dividend worth Rs375.21cr.

Tech Mahindra: The stock was at Rs529.30 per piece up by 1.81%. The company has partnered with ChampTrax Technologies to develop a solution to create stadium like-experience at home for global sports fans.

Top Losers:

Majority of underperformers on Sensex were banking and financial stocks as the Reserve Bank of India (RBI) on Friday reduced the policy repo rate by 40 basis points to 4%. Also, RBI has extended the moratorium on term loans for another 3 months ending August 31, 2020.

Axis Bank: The stock was down by 5.32% at Rs338.30 per piece. Amitabh Chaudhry, MD & CEO of Axis Bank in an email interview with Business Standard mentioned that, it will be a long road to recovery from Covid-19.

HDFC: The stock was trading at Rs1521.05 per piece down by 4.71%. The company will announce its March 2020 quarter and year-ended result on May 25, will consider further plan to raise funds via NCDs.

Bajaj Finance: The stock was trading at Rs1897.95 per piece down by 4.57%. The company has posted a 19% drop in Q4FY20 to Rs948cr. Covid-19 has impacted AUM and new loans business growth.

ICICI Bank: The stock was below 3.94% trading at Rs292.35 per piece. The bank has allotted 156,081 equity shares under ESOS on May 21, 2020.

Bajaj Auto: The stock slipped by 3.20% at Rs2555 per piece. Bajaj Auto's March 2020 (Q4FY20) quarter saw deceleration in both top-line and bottom-line front. Sales were disrupted due to a decline in motorcycle demand in India. 

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