ONGC Leads Nifty Gainers With 3% Gain As Market Ends Flat On Monday

On Monday Nifty 50 fell 0.01% to 24,320.55 snapping a three day gaining streak. 22 stocks gained while 27 declined and 1 remained unchanged.

Leading the pack of top performers was ONGC. The stock closed at ₹299.15, marking a significant 3.80% increase from its last close. This surge placed ONGC as the top gainer of the day.

Top Gainers:

CompanyCurrent PriceLast Close% Change
HDFC Life Insurance Company₹620.9₹607.352.23%
Hindustan Unilever₹2587.15₹2547.01.58%
Tata Consumer Products₹1150.8₹1137.41.18%

Following ONGC, ITC also had a strong showing, with its stock price rising by 2.29% to ₹443.60. The third spot was claimed by HDFC Life Insurance Company, which saw a 2.23% increase in its stock price, closing at ₹620.90.

Other notable gainers included Hindustan Unilever and Tata Consumer Products, which experienced increases of 1.58% and 1.18% respectively, closing at ₹2587.15 and ₹1150.80.

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Top Losers:

CompanyCurrent PriceLast Close% Change
Divi’s Laboratories₹4464.2₹4629.7-3.57%
Titan ₹3156.2₹3269.35-3.46%
Bharat Petroleum Corporation₹299.5₹306.65-2.33%
Shriram Finance₹2808.1₹2865.85-2.02%
Adani Ports ₹1475.3₹1500.45-1.68%

On the flip side, Divi’s Laboratories took the biggest hit, with its stock price falling by 3.57% to ₹4464.20. This marked the steepest decline among the day’s trading, positioning Divi’s Laboratories as the top loser.

Close on Divi’s Laboratories’ heels was Titan Company, which saw a 3.46% drop in its stock price, closing at ₹3156.20. Bharat Petroleum Corporation also had a rough day, with its stock price falling by 2.33% to ₹299.50.

Other significant losers included Shriram Transport Finance Company and Adani Ports which experienced declines of 2.02% and 1.68% respectively, closing at ₹2808.10 and ₹1475.30.

Talking about the day’s performance, Vinod Nair, head of research, Geojit Financial Services said, “The market is turning to a consolidation phase due to the absence of major triggers to support the current premium valuation in the near term, prompting investors to book some profits. The earnings season is around the corner, and the initial expectation is subdued. With stable input prices and ongoing price cuts, the period of margin expansion appears to be concluding, which is likely to affect earnings and valuations.”

Rupak De, senior technical analyst, LKP Securities said, “The Nifty remained range-bound during the day, as market participants appeared to be in no hurry to decide the market’s direction. Support remains at 24,240, and a fall below this level might weaken the strength of the bulls. Until then, dips might be bought into. On the higher end, resistance is seen at 24,375-24,400. Above 24,400, the index might move towards 24,600.”

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