Large Cap Indian Stocks With Positive Sentiment on 8 May 2023

The Indian stock market was positive on 8 May 2023, with the Sensex and Nifty50 indices closing higher. This was driven by strong earnings results from several large cap companies.

Some of the stocks that saw positive sentiment on the day included:

  • Tata Consultancy Services (TCS): TCS reported Q4 earnings that beat analyst estimates, with revenue rising 15.5% year-over-year (YoY). This was the company’s highest quarterly revenue growth in over two years.
  • HDFC Bank: HDFC Bank reported Q4 earnings that also beat analyst estimates, with profit rising 19% YoY. This was the bank’s highest quarterly profit growth in over three years.
  • Infosys: Infosys reported Q4 earnings that beat analyst estimates, with revenue rising 22.9% YoY. This was the company’s highest quarterly revenue growth in over four years.
  • Reliance Industries (RIL): RIL reported Q4 earnings that beat analyst estimates, with profit rising 23% YoY. This was the company’s highest quarterly profit growth in over two years.
  • ICICI Bank: ICICI Bank reported Q4 earnings that beat analyst estimates, with profit rising 18% YoY. This was the bank’s highest quarterly profit growth in over two years.
  • Hindustan Unilever (HUL): HUL reported Q4 earnings that beat analyst estimates, with profit rising 10% YoY. This was the company’s highest quarterly profit growth in over three years.
  • Bajaj Finance: Bajaj Finance reported Q4 earnings that beat analyst estimates, with profit rising 27% YoY. This was the company’s highest quarterly profit growth in over two years.
  • L&T: L&T reported Q4 earnings that beat analyst estimates, with profit rising 20% YoY. This was the company’s highest quarterly profit growth in over three years.

These stocks are all expected to have a positive impact on the Indian stock market in the future, as they are all large, well-established companies with strong fundamentals. The most stock price impacting news for each of these stocks was their respective Q4 earnings results, which all beat analyst estimates.

Large Cap Indian Stocks With Negative Sentiment on 8 May 2023

While the overall sentiment towards large cap Indian stocks was positive on 8 May 2023, there were a few stocks that saw negative sentiment. These included:

  • Wipro: Wipro reported Q4 earnings that missed analyst estimates, with revenue rising 13.6% YoY. This was the company’s slowest quarterly revenue growth in over two years.
  • Adani Ports and Special Economic Zones (APSEZ): APSEZ reported Q4 earnings that missed analyst estimates, with profit rising 14% YoY. This was the company’s slowest quarterly profit growth in over two years.
  • Sun Pharma: Sun Pharma reported Q4 earnings that missed analyst estimates, with profit rising 8% YoY. This was the company’s slowest quarterly profit growth in over two years.

These stocks are all expected to have a negative impact on the Indian stock market in the future, as they are all large, well-established companies with weak fundamentals. The most stock price impacting news for each of these stocks was their respective Q4 earnings results, which all missed analyst estimates.

Conclusion

Overall, the sentiment towards large cap Indian stocks was positive on 8 May 2023. However, there were a few stocks that saw negative sentiment, due to their weak fundamentals. Investors should do their own research before making any investment decisions.