NIFTY 500's Top Movers And Shakers Today: 2 Railway Stocks Zoom

On the Nifty 500 Index, ITI Limited led the pack of top performers on Friday, marking a significant gain of nearly 20%. The company, a major player in the telecommunications equipment sector, saw its shares close at ₹271.10, up from the previous close of ₹225.95.

Following closely was Ircon International Limited, with a surge of over 10%. The railway company’s shares closed at ₹149.65, significantly higher than the last close of ₹135.90. RITES Limited a fellow railway stock saw a similar surge today. The surge in the two stocks came as the government awarded “Navratna” status to the companies.

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Gujarat State Fertilizers & Chemicals Limited also registered a notable gain of around 6.7%, with its shares trading at ₹186.85 at the close of business.

MMTC Limited, a trading company with diverse operations saw its share price increase by approximately 5.7% to ₹74.60, while RITES Limited saw a 5.3% rise to ₹498.45.

On the flip side, Infibeam Avenues, experienced the most significant slide amongst the bottom performers, with a decline of over 4.57%. Other laggards included Mphasis Limited, The Bombay Burmah Trading Corporation, Limited, Bandhan Bank Limited, and Linde India.

The benchmark indices closed lower today post a volatile session. Nifty 50 slumped 0.22% and Sensex went down 0.19% to close out the last trading day of the week. Nifty 500 followed a similar trajectory going down around 0.17%. “Nifty recovered well after a gap-down opening on October 13. On weekly charts, it rose 0.5% forming a bullish engulfing bull pattern. Nifty could now face resistance in the 19839-19878 band while support could come in at 19512-19565 band,” said Deepak Jasani, head of retail research at HDFC Securities.

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