Stock Market Update: Ola Electric and Meesho Lead Gains Amid Market Retreat
Top Gainers & Losers on April 09: Ola Electric, Meesho, Ather Energy, Honasa Consumer, HFCL among top gainers
Mint
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On April 9, the Indian stock market faced a downturn, with the Nifty 50 index falling nearly 1% and the S&P BSE Sensex dropping 1.22% to 76,615. Despite this, Ola Electric surged by 20%, leading over 35 Nifty 500 stocks that gained more than 3%, as broader markets outperformed key indices.
- 01The Nifty 50 index fell nearly 1%, breaking a five-day winning streak.
- 02Ola Electric's stock rose by 20%, marking its seventh consecutive session of gains.
- 03Broader market indices, including Nifty Midcap 100 and Nifty Smallcap 100, closed in the green.
- 04HFCL secured orders worth ₹1,366 crore, boosting its stock by 5.9%.
- 05Sector performance was mixed, with gains in Nifty Metal, Pharma, and IT indices.
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On April 9, the Indian stock market saw a retreat from its recent rally, with the Nifty 50 index declining nearly 1% and the S&P BSE Sensex falling 1.22% to 76,615 due to renewed tensions in the Middle East and rising crude oil prices. Despite this downturn, the broader markets performed well, with the Nifty Midcap 100 and Nifty Smallcap 100 indices closing in positive territory. Over 35 Nifty 500 stocks gained more than 3%, led by Ola Electric, which surged 20% after announcing readiness of its in-house Lithium Iron Phosphate (LFP) cell. Other notable gainers included ITI (up 11.5%), Meesho (up 8.4%), and Ather Energy (up 6.4%). HFCL's stock rose 5.9% after securing orders worth ₹1,366 crore for optical fiber cables, expected to be executed by December 2026.
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The fluctuations in the stock market could affect investor sentiment and influence future investment decisions, particularly in the electric vehicle and technology sectors.
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