Top Nifty gainers & losers at mid-day: BPCL, Adani Enterprises shine, IndusInd, Bajaj Auto fall

Equity benchmarks the Sensex and the Nifty zoomed to new highs on December 5 morning for a second consecutive session even as the global stock rally showed signs of moderating in anticipation of key US data. At 12.40 pm, the Sensex was up 263.16 points or 0.38 percent at 69,128.28, and the Nifty was up 93.90 points or 0.45 percent at 20,780.70. About 1,453 shares advanced, 1,729 declined and 98 remained unchanged.

Adani Enterprises Ltd: The Adani flagship firm soared over 9 percent to Rs 2,782 on December 5 after a Bloomberg report said a US agency International Development Finance Corp (DFC) found the accusations against the Gautam Adani-led conglomerate to be irrelevant. A senior US official affirmed that the US government considered Hindenburg Research’s allegations of corporate fraud against Adani inconsequential.

Adani Ports and Special Economic Zones Ltd: Shares of the port major surged 9.2 percent to Rs 959 on December 5 after a Bloomberg report suggested that International Development Finance Corp saw the Hindenburg report as inconsequential. The stock has zoomed 144 percent from its 52-week low of 395.10, touched earlier this year in February.

Mahindra and Mahindra Ltd: Shares of the tractor and SUV major gained over 2 percent to Rs 1,708 to hit a new 52-week high, extending gains for the second day in a row. Volumes were low as 20 lakh shares changed hands as against the one-week average of 35 lakh shares.

State Bank of India Ltd: Shares of the largest public sector bank traded 1.6 percent higher to Rs 603, crossing the Rs 600-mark for the first time. The surge on expectation of growth.

BPCL Ltd: Shares of the petroleum major gained 1.5 percent to Rs 468, rallying for the seventh day in a row. The surge comes after oil prices fell on concern about a drop in demand and on continued uncertainty about the depth and duration of OPEC+ supply cuts.

HCL Tech Ltd: Shares of the IT major fell 1.7 percent to Rs 1,315 with its UK-arm set to offload an entire 49 percent stake in a US-based State Street joint venture (JV). HCL Tech Investments UK, the step-down wholly-owned subsidiary of HCL Tech, signed a memorandum of understanding (MoU) with its joint venture partner State Street International Holdings to sell an entire 49 percent stake in the JV to State Street for $170 million plus net book value.

IndusInd Bank Ltd: Shares of the private lender fell 1.6 percent to Rs 1,491 as investors rushed to book profits. The shares gained nearly 4 percent on December 4 after the Bank Nifty touched an all-time high.

Infosys Ltd: Shares of the IT major fell 1.4 percent to Rs 1,444 on December 5, a day after it gained a percent. About 28 lakh shares changed hands against the one-week average of 56 lakh shares.

Divi’s Laboratories Ltd: The pharma major fell 1.2 percent to Rs 3,751, snapping a three-day gaining streak on the bourses. As many as three lakh shares changed hands as against the 4 lakh shares on the bourses.

Bajaj Auto Ltd: Shares of the two and three-wheeler company declined over a percent to Rs 6,127, a day after the counter surged nearly 3 percent.