Bajaj Auto Leads Gainers As Market Snaps 3-Day Gaining Streak

On Monday, India’s Nifty 50 index saw a mixed bag of performances with some stocks racing ahead while others stumbled. The top performer of the day was Bajaj Auto, with a significant 3.04% rise from its last close, making it the star of the trading day.

Following closely, Hindalco Industries registered a 1.64% increase, reflecting positive sentiment among investors. Meanwhile, Adani Ports and Special Economic Zone, a major player in the ports sector, continued its upward rally with a 1.46% rise.

Sun Pharmaceutical Industries, also painted a positive picture with a 1.38% rise. Lastly, Reliance Industries managed to add a modest 1.02% to its value, closing the day at ₹2521.0.

On the flip side, Power Grid Corporation of India fell by 2.32%, making it the largest dropper of the day. ICICI Bank, also faced a dip of 1.54%, reflecting cautious investor sentiment in the sector.

The renowned FMCG player, ITC Limited, saw a decline of 1.43%. JSW Steel, also took a hit with a dip of 1.42%, reflecting the recent challenges faced by the industry.

Adding to the list of decliners, Tech Mahindra observed a slight shrinkage of 1.10%.

The Nifty 50 experienced a decline on December 18, ending a three-day upward trend, influenced by the negative performance of Asian markets. The index slumped 0.18%, or 38 points settling at 21,418.7. “We believe that the markets have taken a breather after the sharp rise seen last week. So any corrections are likely to be short-lived and can be utilized to buy into quality stocks,” said Subash Gangadharan, senior technical and derivative analyst, HDFC Securities.

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