On Thursday, May 22, 2025, several heavyweight stocks witnessed a sharp decline, dragging sectoral indices lower and adding to market-wide volatility. Leading the downward trend were Oil & Natural Gas Corporation (ONGC), Mahindra & Mahindra (M&M), Hindalco Industries, and Wipro, each recording losses of over 1.9% by market close.
ONGC Tanks Over 2.65% Post Board Outcome and Dividend Update
Oil & Natural Gas Corporation Ltd (NSE: ONGC) ended the day at ₹241.67, slipping ₹6.58 or 2.65% from its previous close of ₹248.68. The stock touched an intraday low of ₹239.61 and witnessed high volumes of over 185 lakh shares, with a traded value of ₹450 crore.
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The fall comes a day after ONGC disclosed its Q4 results, dividend declaration, and change in board members. Despite positive updates, profit booking seemed to dominate.
M&M Slides 2.42% Amid Subsidiary Investment Announcements
Shares of Mahindra & Mahindra Ltd (NSE: M&M) dropped to ₹3,006.30, down ₹74.70 or 2.42%. The day’s low stood at ₹2,980.50 with a trading volume of nearly 38.71 lakh shares worth ₹1,165 crore.
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The company recently approved investment in the rights issue of its subsidiary Mahindra Lifespace Developers. Market participants reacted cautiously, despite positive investor engagement updates and corporate announcements over the week.
Hindalco Dips Over 2% Despite Acquisition and Board Updates
HINDALCO (NSE: HINDALCO) finished the day at ₹649.55 after a 2.03% decrease of ₹13.45. The scrip, which opened at ₹663, touched a low of ₹642.50. 67 lakh shares traded, resulting in a ₹441 crore turnover.
The company had announced multiple strategic developments including acquisitions, board changes, and new investor presentations during the week. Still, the stock witnessed selling pressure and continues to trade below its 52-week high of ₹772.65.
Wipro Ends Lower by 1.94% Amid Lack of Fresh Triggers
IT major Wipro Ltd (NSE: WIPRO) also faced headwinds, ending the session at ₹246.05, down ₹4.87 or 1.94% from the previous close of ₹250.92. The stock traded between ₹249.89 and ₹… [truncated data].
With no major announcements on the day, Wipro’s dip is being attributed to broader IT sector weakness and profit booking.
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Also read: IndusInd Bank Reports Q4 FY25 Results: Loan Contraction and Elevated NPAs
Published on: May 21, 2025 / M Vishnu
PM Modi Inaugurates Redeveloped Railway Stations
Prime Minister Narendra Modi is set to virtually inaugurate five newly redeveloped railway stations under the Western Railways in Vadodara today. The redevelopment aims to enhance passenger amenities and infrastructure.
बहूनां जनमाणां अन्ते ज्ञानी मां प्रपद्यते।
After many births, the wise seek refuge in Me, knowing that I am everything.
