The Indian stock market remains closed on May 11th for a weekend. However, it witnessed a bullish trend on Friday, the 10th, to end the week on a high note, with the benchmark indices Nifty 50 and Sensex closing high. The Nifty 50 gained 0.44% to settle at 22,055.20, while the BSE Sensex rose 0.36% to end the session at 72,664.47.
The Nifty 50 index breached the crucial 22,000 mark, indicating buying interest from investors. The index traded within a range of 21,950.30 to 22,131.30 during the day. However, technical analysis warns that the Nifty has broken down from an ascending channel pattern and could potentially test the double-top neckline support levels.
The Sensex, on the other hand, found support at the bullish flag pattern, suggesting a potential continuation of the uptrend. The index fluctuated between 72,366.29 and 72,946.54 during the trading session.
Despite top stocks showing mixed performances during the day, here are some of the top gainers for the day.
Hindustan Zinc Ltd
Hindustan Zinc Ltd emerged as the top gainer on the day, surging 15.97% to close at Rs 529.00. The stock touched an intraday high of Rs 540.95 and a low of Rs 460.30. With a market capitalization of Rs 2.23 trillion, Hindustan Zinc Ltd recorded an average trading volume of 4.79 million shares. The company’s price-to-earnings (P/E) ratio stood at 28.81, while its dividend yield was an impressive 10.30%.
Honeywell Automation India Ltd
Honeywell Automation India Ltd witnessed a remarkable rally, climbing 8.54% to end the day at Rs 46,949.00. The stock touched an intraday high of Rs 47,224.60 and a low of Rs 43,462.55. With a market capitalization of Rs 415.10 billion and an average trading volume of 5.71 thousand shares, the company’s performance was noteworthy.
UPL Ltd
UPL Ltd gained 7.41% to close at Rs 501.00, trading within a range of Rs 464.45 to Rs 505.00 during the day. The company’s market capitalization stood at Rs 377.13 billion, with an average trading volume of 3.37 million shares. Over the past 52 weeks, UPL Ltd’s stock has traded between Rs 447.80 and Rs 698.90.
Endurance Technologies Ltd
Endurance Technologies Ltd witnessed a surge of 7.98%, closing at Rs 2,112.00. The stock touched an intraday high of Rs 2,119.00 and a low of Rs 1,956.00. With a market capitalization of Rs 295.51 billion and an average trading volume of 73.07 thousand shares, the company’s performance was impressive.
JSW Energy Ltd
JSW Energy Ltd climbed 7.03% to end the week at Rs 568.25. The stock traded within a range of Rs 520.20 to Rs 574.00 during the day. The company’s market capitalization stood at Rs 994.31 billion, with an average trading volume of 4.34 million shares.
Jain Irrigation Systems Ltd
Jain Irrigation Systems Ltd gained 5.83% to close at Rs 68.10, fluctuating between Rs 63.05 and Rs 69.85 during the trading session. The company’s market capitalization was Rs 46.33 billion, with an average trading volume of undisclosed figures.
The positive sentiment and recovery in the market were driven by various factors, including optimism about corporate earnings, favorable domestic and global cues, and sustained foreign institutional investor inflows
