On Wednesday, Nifty closed 0.38% up at 24,951.15. 33 companies gained while 17 declined.
JSW Steel led the way with a substantial gain of 2.89%, elevating its stock price to ₹928.25 from the previous close of ₹902.10. This notable rise underscores the steel giant’s robust market presence during the day’s trading activities.
See Also: Adani Power Shares Crashed As Q1 Profit Sunk 55% To ₹3,913 Cr
Top Gainers:
| Company | Current Price | Last Close | % Change |
|---|---|---|---|
| JSW Steel | ₹928.25 | ₹902.10 | 2.89% |
| Asian Paints | ₹3084.45 | ₹3005.05 | 2.64% |
| HDFC Life | ₹715.50 | ₹697.20 | 2.62% |
| NTPC | ₹416.00 | ₹406.95 | 2.22% |
| SBI Life | ₹1753.65 | ₹1721.05 | 1.89% |
Following closely, Asian Paints and HDFC Life also showed significant gains, with stock price increases of 2.64% and 2.62% respectively. NTPC and SBI Life rounded out the top gainers, reflecting positive movements in the utilities and insurance sectors.
Top Losers:
| Company | Current Price | Last Close | % Change |
|---|---|---|---|
| Britannia | ₹5784.45 | ₹5842.20 | -0.99% |
| Dr. Reddy’s | ₹6750.50 | ₹6804.15 | -0.79% |
| Reliance | ₹3010.85 | ₹3026.30 | -0.51% |
| Grasim | ₹2776.75 | ₹2790.90 | -0.51% |
| Tata Consumer Products | ₹1188.95 | ₹1194.90 | -0.50% |
Britannia experienced the steepest decline with a 0.99% drop in its stock price, closing at ₹5784.45.
Other significant losers included Dr. Reddy’s and Reliance, with drops of 0.79% and 0.51% respectively. Grasim and Tata Consumer Products were the rest of the losers in the session. Tata Consumers fell after its net profit fell 8.3% to to ₹290.32 crore, missing forecasts by a large margin.
Vinod Nair, Head of Research, Geojit Financial Services said, “The domestic market is attempting to cross above the psychological threshold of 25,000, as subdued Q1FY25 earnings and stretched valuations are curbing the challenge, while positive global trends and sector rotation are supporting the traction.
Positive global sentiment driven by expectations of an easing interest rate cycle by the FED and RBI in the medium term, owing to benign inflation, ignited the rally today. As expected, the BoJ raised its interest rate while all eyes were on US FED policy. The weakening dollar is showing signs of a rate cut in September.”
Read Next: Rites Shares Slide as Profit Sinks 24% in Q1; Bonus Issue Approved, Dividend Announced
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.