On Wednesday, Nifty 50 closed down 0.49% to 24,918.45. 12 stocks gained while 38 declined.
Leading the pack of gainers, Bajaj Auto saw a significant boost of 3.94% in its stock price, closing at ₹11,420.75.
Following closely, Asian Paints marked a 2.19% increase, with its stock price reaching ₹3,367.45. Bajaj Finance witnessed a 1.43% rise, closing at ₹7,345.55, while Britannia and Shriram Finance also posted modest gains.
Top Gainers:
| Stock | Current Price | Last Close | % Change |
|---|---|---|---|
| Bajaj Auto | ₹11,420.75 | ₹10,987.75 | 3.94% |
| Asian Paints | ₹3,367.45 | ₹3,295.05 | 2.20% |
| Bajaj Finance | ₹7,345.55 | ₹7,241.85 | 1.43% |
| Britannia | ₹6,008.65 | ₹5,969.90 | 0.65% |
| Shriram Finance | ₹3,279.90 | ₹3,260.05 | 0.61% |
On the flip side, Tata Motors bore the brunt of the market’s volatility, with a sharp decline of 5.74%. Tata Motors fell after UBS maintained “sell” call raising concerns about discounts offered for Range Rover Sport.
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ONGC followed with a 3.48% drop. Wipro, SBI, and Hindalco also experienced downward trends.
Top Losers:
| Stock | Current Price | Last Close | % Change |
|---|---|---|---|
| Tata Motors | ₹976.30 | ₹1,035.80 | -5.74% |
| ONGC | ₹285.30 | ₹295.60 | -3.48% |
| Wipro | ₹514.35 | ₹525.75 | -2.17% |
| SBI | ₹768.60 | ₹782.65 | -1.80% |
| Hindalco | ₹647.70 | ₹659.50 | -1.79% |
Vinod Nair, Head of Research, Geojit Financial Services said, “The domestic market experienced a minor consolidation in line with Asian peers due to correction of commodity prices like crude which has collapsed to 70$. Market sentiment remained cautious due to the slowdown in the Chinese economy. Investors await the release of the US CPI and domestic inflation data. It is anticipated that US inflation will have an uptick in monthly data, while domestic inflation is expected to remain stable. Additionally, this muted trend was influenced by the BoJ's indication of a potential rate hike if inflation remains elevated.”
Engineered by Benzinga Neuro, Edited by Ananthu CU
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