Markets were in turmoil on Tuesday as Nifty fell 5.93% to 21,884.50, recording its biggest fall in 4 years as BJP struggled to get a clear mandate despite the NDA coalition going past the halfway mark.
Leading the pack of gainers in the Nifty 50 is Hindustan Unilever, India’s largest FMCG firm, with a 5.96% surge. This follows a decent performance over the past few weeks, with a 6% rise in the last 30 days.
Top Gainers
| Stock | Current Price | Last Close | % Change |
|---|---|---|---|
| Hindustan Unilever | ₹2496.3 | ₹2355.9 | 5.96% |
| Nestle India | ₹2427.75 | ₹2355.05 | 3.09% |
| Britannia | ₹5325.1 | ₹5167.8 | 3.04% |
| Hero MotoCorp | ₹5310.7 | ₹5160.6 | 2.91% |
| Tata Consumer Products | ₹1087.0 | ₹1069.15 | 1.67% |
Following closely are Nestle India and Britannia with gains of 3.08% and 3.04% respectively. Hero MotoCorp and Tata Consumer Products also made it to the top gainers list with an increase of 2.90% and 1.67% respectively.
On the flip side, the Adani Group companies, which saw a meteoric rise on Monday, are now facing heavy losses. Adani Ports and Adani Enterprises are leading the pack of losers with a decline of 21.15% and 19.31% respectively.
Top Losers
| Stock | Current Price | Last Close | % Change |
|---|---|---|---|
| Adani Ports | ₹1248.95 | ₹1583.95 | -21.15% |
| Adani Enterprises | ₹2941.25 | ₹3645.25 | -19.31% |
| ONGC | ₹236.3 | ₹284.1 | -16.83% |
| NTPC | ₹331.25 | ₹391.8 | -15.45% |
| SBI | ₹775.2 | ₹905.65 | -14.4% |
Other significant losers include ONGC with a 16.83% drop, NTPC with a 15.45% fall, and SBIN with a 14.40% decline.
Talking about the results, brokerage firm Emkay Global said, “India's general elections threw up a negative surprise, with the ruling NDA set to return albeit with a reduced majority, and the BJP well short of a majority.”
The brokerage said that the index at 21,000 currently is still expensive but if it falls another 10% to dip below 20,000 then it becomes attractive.
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