The benchmark equity indices in India are trading bearish on Monday, May 6th, with the Nifty 50 and Sensex hovering around their previous closing levels of Friday. The Nifty 50 is marginally down by 0.072%% at 22,459.65, while the Sensex is dipped 0.024% to 73,895.54 as of market close close. This muted performance comes after a bearish trend witnessed in the previous week’s day of close. The Sensex dropped 732.96 points, 0.98%, to close at 73,878.15, while the Nifty 50 settled 172.35 points, 0.76%, lower at 22,475.85 on Friday.
With the Nifty 50 forming a double top pattern on the daily chart, this is signaling potential further downside.
Nifty 50 Index: TradingView
Let’s look at some of the top stocks’ performance today May 6th so far.
Tata Consultancy Services (TCS)
One of the top gainers on Monday is Tata Consultancy Services (TCS), India’s largest IT services company. TCS shares were up 2.05% to close at Rs 3,922.20, recovering from a 0.65% bearish close on Friday. The stock’s 52-week range is Rs 3,156.00 to Rs 4,254.75, with a market capitalization of Rs 14.2 trillion. TCS has an average volume of 2.18 million shares traded daily and a P/E ratio of 31.16. For the day Tata has traded within a low of Rs 3,853.00 and a high of Rs 3,939.95
Infosys
Another prominent IT stock, Infosys, also witnessed gains, with shares trading 0.78% higher to close at Rs 1,427.40. The stock’s day range is Rs 1,417.10 to Rs 1,445.70, and its 52-week range is Rs 1,239.05 to Rs 1,733.00. Infosys has a market cap of Rs 5.90 trillion, an average volume of 7.74 million shares, and a P/E ratio of 22.53. The company’s dividend yield stands at 2.66%.
Hindustan Unilever (HUL)
In the FMCG sector, Hindustan Unilever (HUL) witnessed a 1.80% gain, with shares closing at Rs 2,257.00. The stock’s day range is Rs 2,212.00 to Rs 2,261.50, and its 52-week range is Rs 2,172.05 to Rs 2,769.65. HUL has a market capitalization of Rs 5.30 trillion, an average volume of 1.91 million shares, and a P/E ratio of 51.55. The company’s dividend yield is 1.86%.
Reliance Industries
Reliance Industries, India’s largest company by market capitalization, saw its shares decline by 0.86% to close at Rs 2,843.40. The stock’s today range is Rs 2,836.0 to Rs 2,880.00, and its 52-week range is Rs 2,192.12 to Rs 3,024.90. Reliance Industries has a total market cap reading of Rs 19.21 trillion, an average volume of 5.01 million shares, and a P/E ratio of 27.63.
HDFC Bank
In the banking sector, HDFC Bank gained 0.25%, with shares trading at Rs 1,523.45. The stock’s day range was Rs 1,517.15 to Rs 1,534.50, and its 52-week range is Rs 1,363.55 to Rs 1,757.50. HDFC Bank has a market capitalization of Rs 11.58 trillion, an average volume of 16.07 million shares, and a P/E ratio of 16.92. The bank’s dividend yield stands at 1.28%.
Overall, the Indian stock market witnessed a mixed performance on Monday, with technology and FMCG stocks leading the gains.
