On Tuesday, Nifty 50 closed flat at 25,940.40. The benchmark index raced past the 26,000 mark and hit an all-time high of 26,011.55. 25 stocks gained and 25 declined.
Tata Steel led the charge today with a notable 4.25% increase, closing at ₹160.53.
Hindalco followed closely, rising by 3.95% to ₹717.85. Steel stocks gained after China announced stimulus measures for the economy. Other notable gainers included Power Grid, Tech Mahindra, and Adani Enterprises were the other gainers in the session.
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Top Gainers
| Stock | Current Price | Last Close | % Change |
|---|---|---|---|
| Tata Steel | ₹160.53 | ₹153.99 | 4.25% |
| Hindalco | ₹717.85 | ₹690.55 | 3.95% |
| Power Grid | ₹350.05 | ₹341.15 | 2.61% |
| Tech Mahindra | ₹1637.10 | ₹1607.15 | 1.86% |
| Adani Enterprises | ₹3093.90 | ₹3043.95 | 1.64% |
On the downside, SBI Life saw the biggest decline, falling by 2.91% to ₹1864.35.
Top Losers
| Stock | Current Price | Last Close | % Change |
|---|---|---|---|
| SBI Life | ₹1864.35 | ₹1920.15 | -2.91% |
| Hindustan Unilever | ₹2950.55 | ₹3028.55 | -2.58% |
| Grasim Industries | ₹2619.30 | ₹2666.90 | -1.78% |
| UltraTech Cement | ₹11761.65 | ₹11962.05 | -1.68% |
| Shriram Finance | ₹3516.30 | ₹3567.70 | -1.44% |
Hindustan Unilever, Grasim, UltraTech Cement, and Shriram Finance also posted losses in the session. HUL fell by 2.58%, While Grasim Industries declined by 1.78%. Ultratech Cement fell by 1.68% and Shiriram Finance fell by 1.44%.
Vinod Nair, Head of Research, Geojit Financial Services said, “Domestic benchmarks are attempting sustain new highs, driven by the US Fed's aggressive rate cut. Meanwhile, the Chinese central bank's rate cut, and additional stimulus measures have positively influenced global investor sentiment, resulting in gains for domestic metal stocks. Conversely, FMCG and banking stocks exhibited declines due to profit-booking at higher levels. In the near term, strong inflows from FIIs, driven by the US Fed's dovish outlook and expectations of a rate cut by the RBI in October, are expected to maintain momentum.”
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