Maruti Suzuki Accelerates 6% As Nifty Hits Fresh All-Time High Again

On Tuesday, Nifty 50 closed 0.46% up at 24,433.20. The benchmark index again hit an all-time high level of 24,443.60 in the session. Maruti Suzuki raced ahead with a significant gain, Tata Consumer Products trailed behind.

Leading the pack of top performers was Maruti Suzuki, with its stock price soaring to ₹12827.70, marking a robust 6.69% increase from its last close. The stock gained after the UP government said it would relax taxes on certain hybrid vehicles which could help Maruti’s sales.

Top Gainers:

CompanyCurrent PriceLast Close% Change
Maruti Suzuki₹12827.7₹12023.66.69%
M&M₹2925.5₹2851.352.6%
ITC₹452.6₹443.62.03%
Divi’s Laboratories₹4551.95₹4464.21.97%
Titan₹3215.15₹3156.21.87%

See Also: Paytm In Hot Water As Bengaluru Labour Body Looks Into Allegations Of Forced Layoffs Without Pay: Report

Following closely was M&M, which saw its stock price rise by 2.60% to ₹2925.50. ITC also had a good run, with its stock price climbing 2.03% to ₹452.60. Divi’s Laboratories and Titan rounded up the list of top gainers, with their stock prices increasing by 1.97% and 1.87% to ₹4551.95 and ₹3215.15 respectively.

Top Losers:

CompanyCurrent PriceLast Close% Change
Tata Consumer Products₹1142.2₹1150.8-0.75%
Reliance Industries₹3180.55₹3201.8-0.66%
Shriram Finance₹2792.0₹2808.1-0.57%
ONGC₹297.45₹299.15-0.57%
Bajaj Finance₹7068.05₹7098.25-0.43%

On the flip side, Tata Consumer Products emerged as the biggest loser, with its stock price dipping by 0.75% to ₹1142.20.

Reliance Industries also took a hit, with its stock price falling by 0.66% to ₹3180.55.

Shriram Finance, ONGC, and Bajaj Finance also found themselves in the red. Shriram Transport Finance’s stock price slipped by 0.57% to ₹2792.00, while ONGC and Bajaj Finance saw their stock prices decrease by 0.57% and 0.43% to ₹297.45 and ₹7068.05 respectively.

Vinod Nair, head of research, Geojit Financial Services said, “Both domestic and global factors continue to drive the market momentum. Currently, consumption sectors like FMCG and auto are leading the gains, buoyed by progress in the monsoon and kharif sowing. Investors are eagerly awaiting the first-quarter earnings results, which will guide market direction. The IT sector, with optimistic revenue growth expectations, is expected to positively kickstart the season. Additionally, continuous positive FII inflow contributes to the prevailing positive sentiment.”

Read Next: Netizens Poke Holes In Ola Founder’s ‘India-Specific’ Narrative As In-House Map Tool Bears Strong Resemblance To OpenStreetMaps


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.

Comments
Loading...
Posted In: EquitiesNewsMarketsMoversTrading IdeasGainers And LosersNifty 50

Loading...