Midcap PSU Stock Rockets 20% To Lead Nifty 500 Gainers

The trading session on Thursday in India’s NIFTY 500 index was marked by significant movements, with Mangalore Refinery and Petrochemicals Limited leading as the top gainer, while Polycab India Ltd. experienced the biggest decline.

Mangalore Refinery and Petrochemicals Limited emerged as the day’s biggest winner with a 19.67% rise. EaseMyTrip, Engineers India Limited, Network18 Media & Investments Ltd., and Motilal Oswal Financial Services also witnessed considerable gains.

Conversely, Polycab India Ltd. led the decliners, facing a steep drop of 21.04%. KEI Industries Limited, The Phoenix Mills Ltd., Cochin Shipyard Ltd., and Zee Entertainment Enterprises Ltd. also saw significant reductions in their stock values.

Indian benchmark indices witnessed a volatile session on January 11, managing to close with marginal gains. The Sensex concluded with an increase of 63.47 points or 0.09% at 71,721.18, while the Nifty saw a rise of 28.50 points or 0.13% at 21,647.20. The market experienced 2022 advancing shares, 1251 declining shares, and 63 shares remaining unchanged.

The broader indices fared relatively better as Nifty Midcap 100 and Nifty Smallcap 100, closed the day with gains of 0.2% and 0.4%, respectively, after experiencing an increase of around 1% each during the trading session. The Nifty 500 concluded the day with a 0.2% higher, having surged by as much as 0.9% during intraday trade.

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