On Wednesday, Nifty 50 fell 0.16% to 25,377.55. 20 stocks gained while 30 declined.
Shriram Finance led the pack of gainers with a significant 4.38% rise, pushing its current price to ₹3574.70, up from the previous close of ₹3424.60.
Bajaj Finance followed closely with a 3.61% increase, closing at ₹7631.10. Bajaj Finserv gained 2.14% rising up to ₹1888.20. Nestle India and ICICI Bank also posted notable gains of 1.97% and 1.60% to ₹2597.15 and ₹1288.35.
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Top Gainers:
| Stock | Current Price | Last Close | % Change |
|---|---|---|---|
| Shriram Finance | ₹3574.70 | ₹3424.60 | 4.38% |
| Bajaj Finance | ₹7631.10 | ₹7365.50 | 3.61% |
| Bajaj Finserv | ₹1888.20 | ₹1848.70 | 2.14% |
| Nestle India | ₹2597.15 | ₹2546.85 | 1.97% |
| ICICI Bank | ₹1288.35 | ₹1268.10 | 1.60% |
On the flip side, Tata Consultancy Services saw the biggest drop, falling 3.54% to ₹4346.15.
HCL Technologies and Infosys also faced significant declines, with drops of 3.16% and 3.09%, respectively. Tech Mahindra and Wipro rounded off the list of top losers with 2.79% and 2.49% declines respectively.
Top Losers:
| Stock | Current Price | Last Close | % Change |
|---|---|---|---|
| Tata Consultancy Services | ₹4346.15 | ₹4505.65 | -3.54% |
| HCL Technologies | ₹1756.50 | ₹1813.75 | -3.16% |
| Infosys | ₹1892.15 | ₹1952.55 | -3.09% |
| Tech Mahindra | ₹1605.40 | ₹1651.55 | -2.79% |
| Wipro | ₹538.15 | ₹551.90 | -2.49% |
Vinod Nair, head of research, at Geojit Financial Services, said, “The Indian market experienced a minor profit booking with underperformance by midcaps. Mixed signals from global markets emerged ahead of the anticipated FOMC rate cut decision which is seemingly priced in a 25-bps cut.
Investors assess the potential for a short-term underperformance of equity given the elevated valuation and correction of metal prices. Commodities, including oil prices, are steadily declining, suggesting a potential tempering of economic growth. Investor caution is evident as gold prices rise, likely due to anticipated dollar weakness following the rate cut.”
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