The Indian equity markets have witnessed a bearish trading session today, April 9th, 2024, with the benchmark indices displaying divergent trends. The NIFTY 50 and BSE SENSEX exhibited minor losses, while top stocks experienced significant movements, both upward and downward.

As of writing, the NIFTY 50 index, which tracks the performance of the top 50 companies listed on the National Stock Exchange (NSE), traded at 22,641.75, down 0.11% from its previous close. The BSE SENSEX, the flagship index of the Bombay Stock Exchange (BSE), is trading at 74,679.77, marking a marginal decline of 0.084%. Despite the overall subdued performance, the indices exhibited resilience, trading within a narrow range throughout the session.

                                                                               Nifty Share price

Hindustan Zinc Ltd

Hindustan Zinc Ltd, a leading player in the mining and smelting of zinc, lead and silver, has emerged as one of the top gainers of the day. The stock has soared 13.9%, reaching a new intraday and 52-week high of Rs 407.65. This remarkable surge propelled the company’s market capitalization to an impressive Rs 1.7 lakh crore. Hindustan Zinc’s strong performance can be attributed to the rising demand for base metals and the company’s strategic initiatives to enhance operational efficiency.

Motilal Oswal Financial Services Ltd

Motilal Oswal Financial Services Ltd, a diversified financial services firm, has witnessed a significant uptick of 8.8% in its share price. The stock touched a high of Rs 2,075.00 during the early trading session, reflecting investors’ confidence in the company’s strong financial performance and growth prospects. With a market capitalization of Rs 30,740.2 crore, Motilal Oswal continues to solidify its position in the financial services sector.

Adani Power Ltd

Adani Power Ltd, a prominent player in the electric utility sector, witnessed a modest gain of 1.3%. The stock has reached a high of Rs 632.00  so far, trading at $618.20. Despite the subdued performance, the company’s diversified portfolio of power plants and renewable energy initiatives continue to attract investor interest, positioning it as a prominent player in the energy sector.

Reliance Power Ltd

On the other side, Reliance Power Ltd, another electric utility company, has emerged as the top loser of the day, with its share price declining by 4.7% as of writing. Today, the stock has seen a low of Rs 29.42 and is trading at Rs 29.49. The company’s sole operating segment, power generation, faced challenges that contributed to the share price decline. Investors will closely monitor Reliance Power’s strategies to address these challenges and regain momentum.

Power Finance Corp Ltd

Power Finance Corp Ltd, a leading financial institution dedicated to financing the power sector, has also experienced a 1.8% decline in its share price. So far, the stock has traded between a high of Rs 413.30 and a low of Rs 400.40, and it is currently trading at Rs 403.00. Despite the temporary setback, the company’s potent portfolio and strategic partnerships within the power sector position it favorably for long-term growth.