Nifty Top Gainers And Losers On May 5: From Adani Ports, Trent To Kotak Mahindra, ONGC
Adani Enterprises Ltd., Adani Ports and Special Economic Zone Ltd., and Trent Ltd. emerged as the top gainers for the day. On the other hand, Kotak Mahindra Bank Ltd., JSW Steel Ltd., and Oil & Natural Gas Corp. were the worst performers of the Nifty 50 index.
The NSE Nifty 50 and BSE Sensex rose for second session in a row. The Nifty 50 and Sensex ended 0.47% and 0.37% higher, respectively.
Adani Group stocks also led the rally among the benchmark NSE Nifty 50 companies. Adani Enterprises and Adani Ports heavily outperformed the benchmark, with the stocks' closing 7.03% and 6.31% higher, respectively. Trent's shares surged 4.32% to Rs 5,370.50 at market close. Shriram Finance Ltd. and Bajaj Finserv Ltd. were also among the top gainers.
Kotak Mahindra's shares declined nearly 6% after its net profit fell by 14% year-on-year to Rs 3,552 crore for the quarter ending March, primarily due to increased provisions for its distressed microfinance loans. The shares closed 4.59% lower at Rs 2,084.90.
ONGC's stock ended 1.73% down at Rs 239.20 per share as Brent crude prices slid below the $59 per barrel mark — their lowest level since February 2021. The decline is because the company's revenues are directly linked to the selling price of crude oil.
JSW Steel Ltd., State Bank of India and Dr Reddy's Ltd. were also among the worst performers for the day.
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