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    Biggest gainers & losers of the day: Fertilizer counters soar 9%, Adani Group stocks fall for third day

    Synopsis

    Profit booking was the prevalent theme on midcap and smallcap stocks. However, fertilizer counters gained big as the Cabinet approved the subsidy proposal. Adani Group counters continued their losing streak.

    FILE PHOTO: A broker reacts while trading at his computer terminal at a stock brokerage firm in MumbaiReuters
    The counters of fertilizer sector gained big as the Cabinet approves additional Rs 14,700 crore for fertiliser subsidies.
    New Delhi: Benchmark equity indices snapped a four-day winning run, ending the session lower. Investors remained cautious ahead of the much awaited outcome of the US Federal Reserve’s monetary policy meeting later today.

    The Nifty50 index ended 0.6 per cent or 101.7 points lower at 15,767.55, while the BSE Sensex closed at 52,501.98, down 271.1 points or 0.5 per cent.

    Profit booking was the prevalent theme on midcap and smallcap stocks. However, fertilizer counters gained big as the Cabinet approved the subsidy proposal. Adani Group counters continued their losing streak.

    Here is a look at some of the biggest movers and shakers of Wednesday's session:

    TOP GAINERS OF THE DAY
    Fertilizer stocks: The counters of fertilizer sector gained big as the Cabinet approves additional Rs 14,700 crore for fertiliser subsidies. Following this, shares of BASF India gained 9 per cent to Rs 2,780.05 and Insecticides India soared 8 per cent to Rs 763.60.

    Sagar Cement: The smallcap cement firm has been on a high since the company informed about the board meeting to consider a share split. The counter gained 11 per cent to Rs 1,140.60 on Wednesday.

    JSW Energy: The power generation and transmission firm has been on a high following the sector-wide trend. The power stock is gaining as the consumption of electricity has increased following the unlocking of economies. The stock ended 7 per cent higher at Rs 165.

    SH Kelkar: The counter gained 6 per cent to Rs 161.35. The personal care and FMCG counters have been gaining on the back of rising consumption. Also, the company informed the bourses about an investor's call with Principal Mutual Fund.

    Care Ratings: The counter soared 6 per cent to Rs 711.70. The company has been on a northward trend after its Q4 results. Also, SAT has reduced Sebi's penalty on the company to Rs 10 lakh from Rs 1 crore in Reliance Communication case.

    TOP LOSERS OF THE DAY
    Manaksia: The company reported lower consolidated profit at Rs 3.78 crore in Q4FY21 against Rs 16.9 crore in Q4FY20. Revenue rose to Rs 233.8 crore from Rs 226.44 crore in the same quarter previous year. The counter dived 10 per cent to Rs 66.30.

    RPSG Ventures: The IT and consulting services firm reported a net loss of Rs 124.80 crore in the quarter ended March 2021 as against net loss of Rs 7.60 crore during the previous quarter ended March 2020. The counter tanked 7 per cent to Rs 508.

    Adani Group stocks: Adani Group stocks continued to lose despite issuing clarification and rejecting reports on investors. Adani Ports tanked 7 per cent to Rs 706.85, whereas Adani Enterprises shed 6 per cent to Rs 1,449.30. Adani Transmission, Adani Total Gas and Adani Power tanked 5 per cent each, their circuit limits, to Rs 1,369.35, Rs 1,394 and Rs 127.25 respectively.

    LIC Housing Finance: Shares of India's second largest mortgage finance company fell 5 per cent to Rs 494.9. The company said its net profit declined 5 per cent to Rs 399 crore in the quarter ended March 2021 from Rs 421 crore a year ago due to a large spike in provisions.

    Hindustan Copper: Shares of the copper miner fell over 3 per cent to Rs 157.15. The copper prices slid to its seven-week low due to growing nervousness that top consumer China would soon move to curb further price rises.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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