Titan Tops Charts As Nifty Ends In Red
byAnanthu C UBenzinga Staff Writer
August 13, 2024 4:26 PM
3 min read
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On Tuesday Nifty 50 fell 0.85% to 24,139. During the session, 14 stocks gained while 36 ended declined.

Titan was the top performer, which saw a significant 1.89% increase, taking its current price to ₹3383.55. Apollo Hospitals followed suit with a 1.34% rise, pushing its current price to ₹6589.40.

Dr Reddy’s Laboratories also found itself in the black, with a 0.90% increase in its stock price, which now stands at ₹6948.40.

Tata Consumer experienced a 0.68% rise, taking its current price to ₹1178.80. Nestle India finished the gainers line up with a 0.47% increase from its previous close.

CompanyCurrent PriceLast Close% Change
Titan ₹3383.55₹3320.851.89%
Apollo Hospitals ₹6589.4₹6502.41.34%
Dr Reddy’s Laboratories₹6948.4₹6886.550.90%
Tata Consumer₹1178.8₹1170.80.68%
Nestle India₹2484.7₹2473.10.47%

On the flip side, the losers’ list was topped by BPCL, which saw a steep decline of 3.51%, bringing its current price down to ₹321.70. HDFC Bank wasn’t far behind, with a 3.43% drop, making its current price ₹1603.20.

See Also: This Tata Group Company Is Changing Its Name

Next, Shriram Finance recorded a 2.85% fall, with its current price at ₹2891.35. HDFC Life Insurance also took a hit, with a 2.48% decrease, bringing its current price to ₹685.00.

Rounding up the list of losers was Bajaj Finance, which saw a 2.17% drop, taking its current price to ₹6465.05.

CompanyCurrent PriceLast Close% Change
BPCL₹321.7₹333.4-3.51%
HDFC Bank₹1603.2₹1660.1-3.43%
Shriram Finance₹2891.35₹2976.1-2.85%
HDFC Life Insurance₹685.0₹702.45-2.48%
Bajaj Finance₹6465.05₹6608.15-2.17%

Shrikant Chouhan, Head Equity Research, Kotak Securities said, “Today, the benchmark indices witnessed selling pressure at higher levels, the Nifty ends 208 points lower while the Sensex was down by 686 points. Among Sectors, almost all the major sectoral indices witnessed selling pressure but financial services index lost the most shed nearly 2 percent.

Technically, a reversal formation and bearish candle on daily charts indicating further weakness from the current levels. We are of the view that, the intraday texture of the market is weak but 50 day SMA (Simple Moving Average) or 24000/78800 would be the trend decider level for the day traders. Above 24000/78800, we could see one pullback rally till 24250-24300 / 79500-79700. On the flip side, below 24000/78800 selling pressure is likely to accelerate. Below the same, the market could slip up to 23850-23775 / 78500-78100.”         

Read Next: IRCTC Sees Q1 Net Profit Jump 33% To ₹308 Cr, Revenue Jumps 12%


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