Biggest gainers & losers of the day: United Drilling, Panama Petro, HFCL steal the show

New Delhi: Domestic equity markets continued to gain and extended their rally to the fourth session. The benchmark indices witnessed a recovery led by banks and financials. Traders are awaiting December quarter results.

The 30-share Sensex advanced 367.22 points or 0.61 per cent to close at 60,223.15. Its broader peer Nifty50 added 120 points or 0.67 per cent to 17,925.25. The broader markets underperformed as the BSE smallcap index settled in red, whereas the midcap index gained marginally.

Vinod Nair, Head of Research at Geojit Financial Services, said: "In a highly volatile session, the domestic market witnessed a recovery following a mild dip though the global sentiments were not in favour of bulls. Increasing Covid cases, leading to stricter restrictions, has pressurised market volatility."

Panama Petrochem was in the news after Ramesh Damani entered the counter. United Drilling and HDFC stole the spotlight after announcements. KCP Sugars and Bannari Amman Sugar were under pressure due to profit-booking.

Let's have a look at the biggest movers and shakers of Wednesday's session:

GAINERS
United Drilling Tools: The exploration and production player zoomed 15 per cent to Rs 517.70 as the company appointed marketing associates and representatives to promote its product portfolio for oil exploration and completion equipment in Egypt and Libya.

Panama Petrochem: The smallcap refineries and petroproducts player rallied 11 per cent to Rs 286.90 after ace investor Ramesh Damani entered Panama Petrochem during the December quarter.

BGR Energy Systems: After a days hiatus, the construction and engineering player was back in action and resumed its gaining trajectory as it advanced 10 per cent to Rs 98.05. The scrip has surged about 70 per cent since December 20.

Paper Stocks: Paper players in demand on Wednesday, ahead of elections in five states. Seshasayee Paper & Boards jumped 9 per cent to Rs 164.15, whereas Emami Paper Mills gained 8 per cent to Rs 149.40.

HFCL: The leading telecom equipment manufacturer and technology provider gained 8 per cent to Rs 85.45 as it announced powering its Network offerings with Al, joining hands with Aprecomm, the leading Al-powered Wi-Fi analytics technology provider.

NxtDigital: The Hinduja Group's cable and broadcasting arm soared 7 per cent to Rs 402 on the back of a strong technical set on the daily charts. The traded volume of the counter jumped rapidly compared to the two-week average.

LOSERS
KCP Sugar & Industries: The smallcap sugar player tanked over 9 per cent to Rs 28.50 on the back of weak technical set-up on the daily charts. The counter's traded volume trebled compared to the two-week average.

Bannari Amman Sugars: The sugar player shed over 5 per cent to Rs 2,766.60 on the back of profit-booking following the 32 per cent rise in the counter in the last month. Investors turned cautious and took some profit off the table.

Brightcom Group: The smallcap IT software player hit a lower circuit of 5 per cent to Rs 154, ahead of its board meeting on Monday to consider authorising the management for a non-binding Letter of Intent towards acquiring a target company or its assets.

Suzlon Energy: The electric utility player hit the lower circuit amid the acquisition buzz and released its latest shareholding pattern. The counter dropped 5 per cent to Rs 9.78.