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The market closed in the red today as Indian benchmarks turned negative for 2022, falling 2% each today. The NSE Nifty50 finished 17327.35, 302.45 points lower and the BSE Sensex finished 58098.92, 1020.80 points lower. Here are the key stocks that moved the most:
Mahindra and Mahindra | Shares of Mahindra and Mahindra (M&M) were trading in the red on Friday, even though some reports suggest the automaker could raise up to $500 million for its electric vehicles. Its stock ended down 3%.
Century Textiles and Industries Ltd | Shares of Century Textiles and Industries Ltd rose 3.4% on Friday after the company’s real estate arm announced the acquisition of 10 acres of land in Bengaluru. Its stock ended down 2%.
Banking shares | The Nifty PSU Bank Index fell the most among sector indices, down almost 4%. Shares of Bank of India, SBI, Indian Overseas Bank, Union Bank, Central Bank of India, Bank of Baroda, Canara Bank and Punjab National Bank ended down 2.6-5.9%.
Power Grid Corporation of India Ltd | Nifty50’s top loser, its stock ended down almost 8.1%.
Tata Steel | Tata Steel, one of India’s largest steel producers, has announced that it will consolidate all steel companies within the Tata Group into itself. Its stock ended up nearly 0.6%.
Sterling & Wilson Renewable Energy | Shares of Sterling & Wilson Renewable Energy, promoted by Reliance Industries’ New Energy business, have gained more than 20% in the past four trading sessions. In an exchange filing last night, the company mentioned that its wholly-owned subsidiary, Sterling & Wilson Solar Solutions Inc., along with its consortium partner Sun Africa LLC, had signed a memorandum of understanding with the Nigerian government. to develop, design, build and commission photovoltaic solar power plants. Its stock ended up nearly 2.5%.
Vijaya Diagnostic Center Ltd | Nifty500’s top earner, its stock ended up almost 5.6%.