The Indian stock markets witnessed a positive session to close the week on May 10th, with both the benchmark Nifty 50 and BSE Sensex indices gaining. The Nifty 50 index closed above the 22,000 mark, settling at 22,055.20, up 0.44%, 97.70 points from its previous close. The index traded within a range of 21,950.30 to 22,131.30 during the day.
SENSEX
The BSE Sensex rose 260.30 points, slightly away from the bullish parallel channel support, to end the week at 72,664.47. Throughout the session, the benchmark index traded within a range of 72,366.29 to 72,946.54. The broader market’s performance mirrored the resilience witnessed in global equities, optimistic about the prospects of a sustained economic recovery for Sensex from 1000 pts dropped on May 9th.
Top stocks, however, showed mixed performances during the day
Tata Consultancy Services (TCS)
India’s leading IT services company, experienced a dip in its stock price on Thursday. The shares closed at Rs 3,895.00, down 1.65% from the previous day’s close of Rs 3,960.20. The stock traded within a range of Rs 3,885.05 to Rs 3,973.60.
Despite the intraday decline, TCS maintains a strong market cap of Rs 14.11 trillion, reflecting its dominant position in the industry. The company’s average trading volume over the past 30 days stands at 2.09 million shares, indicating a healthy level of liquidity. With a price-to-earnings (P/E) ratio of 30.94 and a dividend yield of 1.41%, TCS remains an attractive investment option for long-term investors.
Infosys
Another IT stock, Infosys, witnessed the same drop in performance. Its shares dropped 0.95% to close at Rs 1,425.90. The stock traded within a range of Rs 1,413.00 to Rs 1,435.95 during the day’s
Infosys boasts a market cap of Rs 5.90 trillion and an average trading volume of 7.64 million shares over the past 30 days. The company’s P/E ratio stands at 22.53, while its dividend yield is an attractive 2.66%, reflecting its commitment to shareholder value.
Hindustan Unilever Limited (HUL)
A leading consumer goods company emerged as a top gainer.The stock surged 1.71% to close at Rs 2,365.50, within the trading range of Rs 2,321.00 to Rs 2,371.00.
HUL commands a market cap of Rs 5.54 trillion and an average trading volume of 2.08 million shares over the past 30 days.
Reliance Industries Limited (RIL)
India’s largest company by market cap, also witnessed a positive trading session. The stock gained 0.71% to close at Rs 2,808.00, fluctuating between Rs 2,776.15 and Rs 2,820.00 during the day.
RIL records a market cap of Rs 19.05 trillion and an average trading volume of 4.89 million shares over the past 30 days. The conglomerate’s diversified business interests, ranging from energy to telecommunications and retail, have contributed to its strong financial performance. RIL’s P/E ratio stands at 27.29, indicating its attractive valuation compared to its peers.
HDFC Bank
This is one of India’s largest private sector banks, and its share price witnessed a marginal dip. The stock closed at Rs 1,439.85, down 0.53% from the previous day’s close of Rs 1,447.50. The trading range for the day was Rs 1,426.80 to Rs 1,451.95.
Despite the intraday decline, HDFC Bank maintains a large market cap of Rs 10.93 trillion and an average trading volume of 15.58 million shares over the past 30 days. The bank’s P/E ratio stands at 16.00, reflecting its attractive valuation compared to its peers in the banking sector.
As the Indian economy continues to recover, investors remain optimistic about the possibilities of the country’s leading corporations.
