On Monday, Nifty 50 gained 0.17% to 25,278.70. The benchmark index hit a new all time high of 25,333.65 in the session.
Bajaj Finance led the gainers, showcasing a robust increase of 3.33% in its stock price, closing at ₹7440.05.
Bajaj Finserv also had a good session with a 3.22% jump. HCLTech also performed well with a 3.05% rise. Hero Motocorp and HCLTech made up rest of the gainers with a 2.25% and 2.15% rise. Shares of Hero jumped after the company posted above estimate sales number in August.
Top Gainers:
| Stock | Current Price | Last Close | % Change |
|---|---|---|---|
| Bajaj Finance | ₹7,440.05 | ₹7,200.15 | 3.33% |
| Bajaj Finserv | ₹1,840.55 | ₹1,783.05 | 3.22% |
| HCLTech | ₹1,806.65 | ₹1,753.25 | 3.05% |
| Hero Motocorp | ₹5,578.2 | ₹5,455.4 | 2.25% |
| Bajaj Auto | ₹11,126.1 | ₹10,891.55 | 2.15% |
On the downside, Hindalco Industries was the biggest loser with a 2.49% drop.
Dr Reddy’s Laboratories fell 2.26% to ₹6,872.15. Tata Motors also had a rough day falling by 1.68%. The Tata group company’s shares fell after its August sales number missed analyst estimates.
Top Underperformers:
| Stock | Current Price | Last Close | % Change |
|---|---|---|---|
| Hindalco Industries | ₹683.9 | ₹701.35 | -2.49% |
| Dr Reddy’s Laboratories | ₹6,872.15 | ₹7,031.35 | -2.26% |
| Tata Motors | ₹1,092.65 | ₹1,111.35 | -1.68% |
| NTPC | ₹410.0 | ₹416.2 | -1.49% |
| ONGC | ₹326.2 | ₹330.75 | -1.38% |
NTPC and ONGC made up the rest of the losers with a 1.49% and 1.38% drop.
V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services said, “The Indian market continues to hold its ground and sustains the new high with marginal positivity. The positive trend is broadly sustaining as the domestic economic growth is still healthy and PMI numbers are much above the long-term average indicating uptick in earnings in the coming quarters. But volatility is increasing as Q1 GDP growth has moderated and a similar trend is witnessed in corporate earnings. Also, August Indian PMI readings were marginally below July numbers indicating that caution is in the air.”
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