Market at Close | Nifty snaps 4-day losing streak, led by Bharti Airtel, L&T, Dixon Tech gains

The equity benchmark indices BSE Sensex and NSE Nifty ended largely higher on Wednesday (May 13), snapping a four-session losing streak after a volatile trading session led by gains in telecom, metal and select industrial stocks.

The Sensex rose 50 points to close at 74,609, while the Nifty gained 33 points to settle at 23,413. The Nifty closed above the 23,400 mark, with Bharti Airtel Limited, Larsen & Toubro Limited, Tata Steel Limited and Asian Paints Limited emerging as the top contributors.

Broader markets outperformed the benchmarks, with the midcap index rising 460 points to 60,165. Market breadth remained positive, with the NSE advance-decline ratio at 3:2 in favour of advances.

Banking stocks underperformed, dragging the Nifty Bank index down 99 points to 53,456. Federal Bank Limited fell more than 2% from the day’s high. The rupee hit a record low of 95.80 against the US dollar during the session.

From the Sensex basket, Asian Paints Ltd, Adani Enterprises Ltd, Tata Steel Ltd, Hindalco Industries Ltd, Adani Ports & Special Economic Zone Ltd and Bharat Electronics Ltd were the major gainers. Eicher Motors Ltd, Mahindra & Mahindra Ltd, Power Grid Corporation of India Ltd, Infosys Ltd, Bajaj Auto Ltd and Shriram Finance Ltd were the biggest laggards.

The Nifty IT index extended losses from the previous session, with all constituent stocks ending lower except Mphasis Limited. Among earnings-driven movers, Cipla Limited rose nearly 3%, while Dr. Reddy's Laboratories Limited ended in the red following their March quarter results.

Dixon Technologies (India) Limited jumped nearly 10% after reporting quarterly earnings above estimates. Vodafone Idea Limited surged 8% after announcing that its board will consider a fundraise proposal on May 16.

MTAR Technologies Limited climbed 9% after the company raised its FY27 revenue growth guidance to 80% from 50%. Metal stock Hindustan Zinc Limited gained more than 4% after the government increased the effective import tax on gold and silver to 15% from 6%.

Oil marketing companies ended near the day’s highs, with Hindustan Petroleum Corporation Limited rising over 5% after its quarterly results.
Berger Paints India Limited advanced nearly 4% on strong fourth-quarter earnings. On the downside, Torrent Power Limited dropped 9%, while Tata Power Company Limited fell nearly 3% following weak March quarter results.