On Monday, Nifty 50 closed 0.13% up at 24,572.65. 30 stocks gained while 20 stocks declined.
Leading the gainers, Hindalco Industries achieved a 3.89% increase to close at ₹658.85.
This was closely followed by BPCL, which rose by 3.39% to ₹343.80. Shriram Finance, Tata Steel and LTIMindtree made up rest of the gainers with a 3.16%, 2.97% and 2.02% increase respectively. Tata Steel gained after analysts said India’s anti-dumping investigation against Vietnam will benefit the stock.
| Stock | Current Price | Last Close | % Change |
|---|---|---|---|
| Hindalco Industries | ₹658.85 | ₹634.15 | 3.89% |
| BPCL | ₹343.8 | ₹332.5 | 3.39% |
| Shriram Finance | ₹3075.6 | ₹2981.5 | 3.16% |
| Tata Steel | ₹153.96 | ₹149.52 | 2.97% |
| LTIMindtree | ₹5676.1 | ₹5563.75 | 2.02% |
Conversely, the biggest laggard of the day was M&M, which saw a 2.65% decline to ₹2765.15.
See Also: ONGC Videsh Secures 16-Year Extension For Vietnam Oil Block Operations
Other notable declines were seen in IndusInd Bank, Bajaj Auto, Axis Bank and SBI Life Insurance. IndusInd Bank fell 1.21%. while Bajaj declined 1.19%, Axis went down 1.17% and SBI Life went down 1.03%.
| Stock | Current Price | Last Close | % Change |
|---|---|---|---|
| M&M | ₹2765.15 | ₹2840.45 | -2.65% |
| IndusInd Bank | ₹1347.6 | ₹1364.15 | -1.21% |
| Bajaj Auto | ₹9770.65 | ₹9888.15 | -1.19% |
| Axis Bank | ₹1153.25 | ₹1166.85 | -1.17% |
| SBI Life Insurance | ₹1671.55 | ₹1688.9 | -1.03% |
Vinod Nair, Head of Research, Geojit Financial Services said, “The Indian market failed to catch up the initial gains as there is a degree of profit booking witnessed in auto stocks due to a slowdown in demand. However, oil stocks gained momentum with the reduction in windfall tax on crude oil. The recent healthy US economic data diminished the likelihood of a US recession, while a slide in the dollar index supported the hypothesis of a rate cut in the September FOMC meeting.”
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.