Hindalco Tops Nifty 50 Gainers After A Volatile Session

On Thursday, Nifty 50 closed 0.22% higher at 23,567 as markets reversed losses from the previous session.

Deepak Jasani, head of retail research at HDFC Securities said, “Nifty recovered from the previous day's fall and ended higher in a volatile session on June 20. At close, Nifty was up 0.22% or 51 points at 23,567. Cash market volumes on the NSE fell to ₹1.41 lakh crore in the absence of large cross deals. Broad market indices rose more than the Nifty even as the advance-decline ratio rose to 1.86:1.”

Vinod Nair, head of research, Geojit Financial Services said, “Despite experiencing significant volatility, the domestic market concluded the day positively. In the near term, market attention is expected to centre around the upcoming Union budget and the progress of the monsoon. On the global front, the decline in US bond yields has facilitated robust FII inflows in recent days. The fertilizer stocks exhibited good momentum, driven by the proposed removal of GST & hike in MSP.”

Hindalco Industries topped the charts with a significant 2.13% increase, closing the day at ₹676.5, up from ₹662.4.

Top Gainers

StockCurrent PriceLast Close% Change
Hindalco Industries₹676.5₹662.42.13%
Grasim Industries₹2498.8₹2447.152.11%
Bharat Petroleum₹626.25₹615.81.7%
JSW Steel₹929.65₹914.951.61%
Adani Ports₹1469.4₹1448.41.45%

Grasim Industries also showed a strong performance with a 2.11% rise, ending at ₹2498.8. Bharat Petroleum, JSW Steel, and Adani Ports rounded out the top gainers, gaining by 1.7%, 1.61% and 1.45% respectively.

Conversely, Hero MotoCorp was the biggest loser, witnessing a 2.53% decline to close at ₹5504.6, down from ₹5647.7.

See Also: Fertiliser Stocks Surge Upto 20% As Government Hikes MSP For Kharif Crops

Top Losers

StockCurrent PriceLast Close% Change
Hero MotoCorp₹5504.6₹5647.7-2.53%
Sun Pharma₹1471.0₹1504.0-2.19%
Mahindra & Mahindra₹2871.2₹2933.85-2.14%

Sun Pharma and Mahindra & Mahindra also faced significant losses, dropping by 2.19% and 2.14% respectively. NTPC and Wipro experienced more moderate declines but still ended the day lower by 1.34% and 1.08%.

Read Next: Indian Tech Startups Beat Chinese Counterparts In Funding Rounds In First 6 Months Of 2024, Says Tracxn

Engineered by Benzinga Neuro, Edited by Ananthu CU

The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Posted In: EquitiesNewsMarketsMoversHero MotocorpHindalcoNifty 50