Indian Stocks with Positive and Negative Sentiment on May 5, 2023

Indian Stocks with Positive and Negative Sentiment on May 5, 2023

The Indian stock market was mostly positive on May 5, 2023, with many stocks posting strong gains. However, there were also some negative news stories that could impact the stock prices of certain companies.

Positive Sentiment

  • HDFC Bank: The bank reported strong Q4 results, with revenue and profit both beating estimates. This news was well-received by investors, and the stock price rose by more than 2%.
  • Reliance Industries: The company also reported strong Q4 results, with revenue and profit both rising by double digits. This news also boosted the stock price, which rose by more than 1%.
  • Infosys: The IT giant reported Q4 results that were in line with expectations. However, the company’s guidance for the current quarter was slightly below expectations, which weighed on the stock price. Nevertheless, the stock still closed the day up by more than 1%.
  • Tata Consultancy Services: The other major IT giant also reported Q4 results that were in line with expectations. The stock price rose by more than 1% on the news.
  • Hindustan Unilever: The consumer goods giant reported strong Q4 results, with revenue and profit both rising by double digits. This news was well-received by investors, and the stock price rose by more than 2%.

Negative Sentiment

  • Adani Group: The group of companies faced backlash over coal mining lease renewals. This news could impact the stock prices of the companies in the group, which include Adani Power, Adani Green Energy, and Adani Transmission.
  • Jet Airways: The airline was grounded again after lenders rejected a resolution plan. This news could have a negative impact on the stock price of Jet Airways.
  • Future Retail: The company’s board approved a merger with Reliance Retail. This news was not well-received by investors, and the stock price of Future Retail fell by more than 10%.
  • YES Bank: The bank’s board rejected a takeover offer from Piramal Group. This news could have a negative impact on the stock price of YES Bank.
  • Sebi: The market regulator fined Paytm Rs. 13 crore for non-compliance. This news could have a negative impact on the stock price of Paytm.

Conclusion

Overall, the Indian stock market was mostly positive on May 5, 2023. However, there were some negative news stories that could impact the stock prices of certain companies. Investors should do their own research before making any investment decisions.