Hindustan Unilever Stands Tall As Nifty Ends Over 2% Down
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On Monday Nifty 50 fell 2.68% to 24,055.60 as global markets were routed on Monday after weak US Job data and Bank of Japan rising interest rates which sent Japan’s index tumbling 12%. 4 stocks advanced while 46 declined. All the sectoral indices ended up in the red with Nifty Metals falling the most to 4.85%.

Hindustan Unilever was the top gainer with a 0/87% gain to ₹2,715.90.

Stock Current Price Last Price %Change
Hindustan Unilever₹2,715.90₹2,692.550.87%
Nestle India₹2,510.90₹2,495.100.63%
HDFC Life Insurance₹710.90₹707.400.49%
Tata Consumer Products₹1,199.40₹1,193.650.48%

Following behind was Nestle India which rose 0.63% to ₹2,510.90 from ₹2,495.10. HDFC Life Insurance was another top performer gaining 0.49% to ₹710.90. Tata Consumer Products was the last gainer with a 0.48% rise. FMCG stocks stood firm in the session as experts said FMCG stocks are largely insulated from global trends.

See Also: Tata Motors’ JLR Sees UK Sales Grow 11% To 6,121 Units, Land Rover Sales Up 13%

The top loser in today’s trade was Tata Motors which fell 7.31% to ₹1,016.45.

StockCurrent PriceLast Close% Change
Tata Motors₹1,016.45₹1,096.65-7.31%
Oil and Natural Gas Corporation₹310.25₹330.10-6.01%
Adani Ports and Special Economic Zone₹1,493.85₹1,588.00-5.93%
Tata Steel₹149.82₹158.22-5.31%
Hindalco Industries₹614.30₹648.05-5.21%

ONGC fell 6.01% to ₹310.25 in the trading session. Adani Ports and Special Economic Zone fell 5.93% to ₹1,493.85 from ₹1,588.00. Tata Steel and Hindalco Industries made up the rest of the laggards with a 5.31% and 5.215 decline.

Vinod Nair, Head of Research, at Geojit Financial Services, said, “The global market was jolted into a cautious mode by recessionary fears in the US following disappointing job statistics and an unwinding of carry trade following the rapid rise of the yen. The effects were felt by the domestic market as well and are expected to impact in the near term. Nevertheless, the market showed resilience at the day’s low and recovered to close above 24,000.

Historically, the Indian market has showcased a solid track record of outperformance compared to the global market, in the long term. This trend is expected to stay as GDP growth is forecast to be robust for the decade aided by progressive policies, fiscal prudence, and a favourable political landscape.”

Read Next: GAIL, Coal India Form JV For Synthetic Natural Gas Project


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