On Friday Nifty 50 closed 0.08% higher at 24,323.85. 36 companies gained while 14 declined.
ONGC led the gainers, showcasing a robust increase of 4.02%, with its stock price rising to ₹288.20 from a previous close of ₹277.05.
State Bank of India also witnessed a strong performance, with its shares climbing 2.44% to ₹859.75.
Other notable performers included Reliance Industries, which rose by 2.23% to ₹3177.25, and Britannia Industries, with a 2.22% increase to ₹5546.80. Hindustan Unilever rounded out the top gainers with a 2.05% rise to ₹2547.00.
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Top Gainers
| Stock | Current Price | Last Close | % Change |
|---|---|---|---|
| ONGC | ₹288.20 | ₹277.05 | 4.02% |
| SBI | ₹859.75 | ₹839.30 | 2.44% |
| Reliance | ₹3177.25 | ₹3108.05 | 2.23% |
| Britannia | ₹5546.80 | ₹5426.25 | 2.22% |
| HUL | ₹2547.00 | ₹2495.95 | 2.05% |
Conversely, HDFC Bank faced the highest decline, with its shares falling 4.58% to ₹1648.10 from ₹1727.15. HDFC Bank’s shares fell after the bank reported a softer Q1 business update.
Titan Company and Tata Steel also saw declines, dropping 2.00% and 0.90% respectively, while LTIMindtree and IndusInd Bank experienced slight downturns.
Top Losers
| Stock | Current Price | Last Close | % Change |
|---|---|---|---|
| HDFC Bank | ₹1648.10 | ₹1727.15 | -4.58% |
| Titan | ₹3269.35 | ₹3336.00 | -2.00% |
| Tata Steel | ₹174.71 | ₹176.29 | -0.90% |
| LTIMindtree | ₹5421.70 | ₹5459.50 | -0.69% |
| IndusInd Bank | ₹1434.25 | ₹1442.85 | -0.60% |
Siddhartha Khemka, head – retail research, Motilal Oswal Financial Services said, “Nifty traded in negative territory throughout the day. However, recovery in the last half hour of the session helped indices to close with minor gains of 22 points at 24,324 levels. The broader market outperformed with Nifty Midcap 100 and Smallcap 100 up 0.8% each. Sector-wise it was a mixed bag with buying seen in Oil & Gas, Pharma, and PSU Bank. The defence sector saw a smart run-up after data released showed India registered 16.8% YoY growth in FY24, the highest ever in production value.”
“After a run-up of ~7% in the last month we expect the market to consolidate at a higher zone. In the coming week, we expect stock and sector-specific action as the market starts taking cues from Q1FY25 earnings. On the macro front, investors will look out for inflation data that will be released by India, the US, and China.” Khemka added.
Vinod Nair, head of research, Geojit Financial Services, said, “The domestic market traded with a mixed bias, with the heavy-weight banking sector acting as a laggard. Adding to the worry are the top lending banks, which recorded a sequential decline in deposit growth in the June quarter. While Midcap and Small Cap outperformed and the respective BSE indices hit an all-time high. Globally, investors now await the US non-farm payroll data to be released later today to gauge the trajectory of the US Fed's potential rate cuts.”
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