HomeMarket NewsStocks NewsHere are key stocks that moved the most on April 12

Here are key stocks that moved the most on April 12

The Sensex ended 1,707 points lower at 47,884 while the Nifty fell 524 points to settle at 14,311.

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By CNBCTV18.com April 12, 2021, 3:41:29 PM IST (Published)

Here are key stocks that moved the most on April 12
A massive selloff in Indian markets on the back of a record spike in COVID cases spooked investors with the benchmarks ending over 3 percent lower on Monday. Weak global cues also hurt the investor sentiment on Dalal Street.


The Sensex ended 1,707 points lower at 47,884 while the Nifty fell 524 points to settle at 14,311. Broader markets were also lower for the day with the midcap and smallcap indices down 5.5 percent each.

On the Nifty50 index, only 4 stocks (3 of them from pharms space) were in the green for the day. These included Dr Reddy's, Cipla, Divi's Labs and Britannia.  Meanwhile, Tata Motors, Adani Ports, IndusInd Bank, Bajaj Finance and UPL led the losses.

Here are the key stocks that moved today:

Infosys: The share price of IT major Infosys rose around 3 in intra-day deals in an otherwise weak market after the firm announced that it will consider share buyback on April 14, the day it announces March quarter results. Brokerage house CLSA estimates that the potential buyback could range between $1.2 billion-$1.5 billion based on Infosys’ stated capital allocation policy. This translates to 1.1-1.5 percent of its equity assuming a buyback premium to the current market price in line with previous buybacks, said the brokerage. The stock pared gains to settle 0.6 percent lower.

Solara Active Pharma: Solara Active Pharma Sciences share price jumped 3.5 percent after the board of directors of the company approved the amalgamation with Aurore Life Science, Empyrean Lifesciences and Hydra Active Pharma Sciences. The combined entity will have the scale of market presence and product portfolio with robust manufacturing and R&D infrastructure to grow into a leading global pure-play API and CRAMS company.

Banks: Shares of banks plunged as a sharp rise in the country’s coronavirus cases dampened investor sentiment and raised concerns over economic recovery. The Nifty Bank index declined over 5 percent, while the benchmark Nifty settled 3.5 percent lower. Private lenders such as HDFC Bank, Kotak Bank, Axis Bank, and ICICI Bank lost 3-4.5 percent, while PSU banks including Indian Bank, Canara Bank, PNB, and Bank of India declined between over 10 percent each.

Pharma stocks: Shares of pharma companies were in demand after the government banned the export of antiviral drug, Remdesivir (injection and API both) in order to address increased demand in view of rising Covid-19 cases in the country. Nifty Pharma index outperformed benchmarks, up 0.4 percent as compared to a 3.5 percent decline in Nifty.  Dr Reddy's rose 7 percent while Cipla and Divi's Labs were also in the green.
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