PSU Stock Jumps 16% To Lead Nifty 500 Gainers

Wednesday’s trading session on the NIFTY 500 index was marked by significant movements, highlighting the dynamic nature of the market with notable gains for some stocks and steep declines for others.

Chennai Petroleum Corporation led the list of top performers with an impressive 15.82% increase in its stock price, closing at ₹1075.00 up from ₹928.20. This substantial rise could be attributed to the bumper dividend announced by the company earlier today. The company is a subsidiary of the Indian Oil Corporation.

Aegis Logistics also experienced robust growth, registering a 12.41% increase to close at ₹604.50, compared to its previous close of ₹537.75.

Mangalore Refinery and Petrochemicals (MRPL) saw a significant rise as well, with its stock increasing by 10.75% to ₹248.70. This could be influenced by oil price trends or refining margins improving.

Deepak Fertilizers and Petrochemicals and United Breweries also posted notable gains, with their stocks climbing 9.80% to ₹608.40 and 9.18% to ₹2030.95 respectively, possibly due to favorable market conditions or positive company-specific announcements.

Conversely, some stocks faced substantial setbacks:

Vodafone Idea was the session’s biggest loser, with its stock price decreasing by 9.03% to close at ₹13.10, possibly due to ongoing financial struggles or negative regulatory news impacting investor confidence.

Tata Consumer Products experienced a significant decline of 5.39%, closing at ₹1110.15, which might reflect market reactions to less-than-expected earnings reports or competitive pressures.

Sun Pharma Advanced Research Company (SPARC), Tata Elxsi, and Multi Commodity Exchange of India (MCX) also faced declines, with their stocks decreasing by 5.00%, 4.94%, and 4.54% to close at ₹285.15, ₹7030.15, and ₹3839.45, respectively. These losses could be driven by a mix of sector-specific issues and broader market trends.

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