ONGC Leads Gainers, Nifty 50 Ends In Red

On Thursday Nifty 50 closed 0.03% down at 24,315.95. At the close of trade, 23 stocks advanced, while 26 declined and one remained unchanged.

ONGC led the day’s gainers with a 2.21% increase, closing at ₹304.75, up from its last close at ₹298.15.

BPCL followed with a 2.08% rise, ending the day at ₹306.60, compared to its previous close at ₹300.35.

Top Gainers:

CompanyCurrent PriceLast Close% Change
ONGC₹304.75₹298.152.21%
BPCL₹306.60₹300.352.08%
Coal India₹500.05₹490.751.90%
ITC₹458.65₹451.451.59%
Tata Motors₹1020.80₹1005.501.52%

Coal India, ITC and Tata Motors made the rest of the winners with gains ranging between 1.90% and 1.52%.

See Also: TCS Reports 8.7% Jump In Profit At ₹12,040 Cr, Revenue Up 5.4%

Conversely, Tata Consumer Products topped the list of losers, with a decrease of 1.69%, closing at ₹1,131.40, down from ₹1150.80.

Bajaj Finance also saw a decline, with its stock price dropping 1.48% to end at ₹6950.30.

Top Losers:

CompanyCurrent PriceLast Close% Change
Tata Consumer₹1131.40₹1150.80-1.69%
Bajaj Finance₹6950.30₹7054.95-1.48%
M&M₹2698.05₹2732.00-1.24%
Divis Lab₹4582.50₹4636.95-1.17%
NTPC₹377.10₹381.40-1.13%

M&M, Divis Lab, and NTPC also fell in the session.

Vinod Nair, head of research, at Geojit Financial Services said: “The main indices are trading in a narrow range, struggling to justify its premium valuation ahead of the Q1 earnings season, which is forecast to be subdued. However, the broader market is exhibiting marginal momentum, led by a shift in FIIs inflow and budget expectations. Attention is now focused on the US inflation data, which is estimated to moderate and positively influence Fed’s interest rate decisions.”

Rupak De, senior technical analyst, LKP Securities said, “The Nifty remained volatile throughout the day before closing flat. In the near term, the Nifty might trade sideways, with 24,150 and 24,400 acting as the key levels. A decisive fall below 24,150 might trigger panic in the market, while a decisive move above 24,400 might induce a rally towards 24,650.”

Read Next: IRCON Reports Dip In FII Holdings In June Quarter, Quant MF Increases Stake


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