Steel Stocks Shine As Nifty Reverses Early Losses
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On Tuesday, Nifty 50 reversed losses in the session and closed 0.91% up at 24,213.30. At the end of trde, 39 stocks gained while 11 declined.

Top Gainers:

StockCurrent PriceLast Close% Change
JSW Steel₹999.5₹954.94.67%
Bajaj Auto₹9874.85₹9525.553.67%
Tata Steel₹152.29₹146.953.63%
Hindalco₹697.55₹674.33.45%
Axis Bank₹1171.7₹1139.252.85%

JSW Steel topped the charts with a 4.67% increase, closing at ₹999.5.

Bajaj Auto and Tata Steel also posted notable gains, with increases of 3.67% and 3.63% respectively. Hindalco and Axis Bank rounded out the top five with their respective rises. Steel stocks surged in the session after the Indian government is reportedly looking to raise anti-dumping duties on imported steel to help the domestic steelmakers.

See Also: Tata Motors’ JLR Sees U.K. Sales Slump 13% To 5,257 Units

Top Losers:

StockCurrent PriceLast Close% Change
Coal India ₹434.9₹443.30-1.89%
Adani Ports₹1329.35₹1349.25-1.47%
Trent₹6968.35₹7063.75-1.35%
Asian Paints₹2887.3₹2915.3-0.96%
ITC₹480.2₹484.6-0.91%

Coal India saw the most significant drop, down 1.89%, closing at ₹434.9.

Adani Ports and Trent also faced declines, with Adani Ports decreasing by 1.47% and Trent by 1.35%. Asian Paints and ITC completed the list of the top five losers.

Vinod Nair, Head of Research, Geojit Financial Services said, “The domestic market experienced a sharp recovery, reclaiming most of the previous day's losses amid uncertainty surrounding the likely downgrade in Q2 GDP forecast and closely contested U.S. presidential election. However, the recent rebound in domestic manufacturing activity data, along with the expected revival of consumption in the H2, are likely to support market sentiment. Metals led the gains, driven by the anticipation of significant stimulus from China later this week.”

Read Next: HDFC Bank To See ₹15,812 Cr Inflows From MSCI Rejig, Says Nuvama; BSE, Voltas, Ola Electric Likely To Enter Indices


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