Top gainers, losers in trade today: Bajaj and HDFC twins, Adani Ent; check full list here
- Sensex and Nifty 50 rebounded despite mixed global cues as investors give thumbs-up to Fed's another dovish hike while changing the statement. Also, focus continues to be on earnings and ECB's policy outcomes.
Indian equities gained traction on Thursday after a dull previous session. The performance is despite mixed global cues as traders eye another rate hike from European Central Bank after US Federal Reserve raised key fund rates by 25 bps. Although US futures and Asian equities edged up, European stocks sagged. Sensex neared the 61,750 level and Nifty 50 crossed over the psychological 18,250 mark.
Today, 2,244 stocks advanced, while 1,278 declined and 118 remained unchanged. Further, 121 stocks hit a new 52-week high, and 27 stocks struck a fresh 52-week low. Also, 12 stocks touched their upper circuit, while 7 stocks hit the lower circuit.
Sensex surged by 555.95 points or 0.91% to close at 61,749.25, while Nifty 50 soared by 165.95 points or 0.92% to finish at 18,255.80. Broad-based rally was seen across the board with midcap and small-cap stocks also advancing by nearly a percent. Banking and financial stocks are top performers, while consumer durables, metals, and IT stocks also contributed substantially to the upside sparked by major Q4 earnings.
Read here: Stock market today: Sensex, Nifty end with healthy gains; investors richer by over ₹2 lakh crore in a day
Here are the top five stocks which emerged as top gainers and losers on the exchanges.
Sensex:
Of the total 30-scrip on the benchmark, 21 stocks advanced and 9 declined.
Top gainers: Bajaj Finance (+3.2%), HDFC (+2.6%), HDFC Bank (+2.2%), Bajaj Finserv (+1.98%), and Asian Paints (+1.74%).
Top losers: IndusInd Bank (-1.2%), Nestle (-0.8%), Power Grid (-0.7%), ITC, and Tata Motors slipped by 0.6%.
Read here: HDFC Q4FY23 net profit up 20%, dividend declared
Nifty 50:
On this benchmark, 33 stocks advanced while 17 declined.
Top gainers: Adani Enterprises (+4.7%), Bajaj Finance (+3.2%), HDFC (+2.7%), SBI Life (+2.65%), and HDFC Bank (+2.12%).
Top losers: IndusInd Bank (-1.32%), UPL (-1.10%), Nestle India (-0.72%), Power Grid (-0.71%), and ITC (-0.70%).
BSE:
Top gainers are: General Insurance Corporation hit 20% upper circuit today before closing at ₹184.95 apiece up by 19.55%. Followed by The New India Assurance Company which closed at ₹126.55 apiece up by 15%. While JAI Corp jumped 10.3%, Tata Teleservices climbed 10%, and BEML rose by 9.3%.
Top losers: Petronet LNG (-4.2%), J&K Bank (-3.8%), Engineers India (-3.57%), TTK Prestige (-2.83%), and Maharashtra Seamless (-2.88%).
Read here: Adani Enterprises records 137% Q4 PAT growth at ₹722 Cr, 120% dividend declared
NSE:
Top gainers: RS Software and Rane Engine Valve ended at 20% upper circuit each, followed by General Insurance Corp up by 17.72%, Vadilal Industries up by 14.80%, and Consolidated Finvest & Holdings surging by 14.15%.
Top losers: Axita Cotton is down by 10% lower circuit, Lakshmi Finance & Industrial tumbled by 9.22%, Secur Credentials plunged by 9.11%, Vinyl Chemicals dipped by 7.83%, and Punjab Chemicals dived by 6.52%.
Read here: How US Fed rate hike will impact Indian stock market today — explained
On markets performance today, Vinod Nair, Head of Research at Geojit Financial Services said, "Following a widely expected rate hike by the Fed and consistent foreign support, the domestic equities resumed its bullish momentum, driven by gains across major sectors. However, the US market faced losses as the Fed reiterated concerns over elevated inflation despite softening its language on future rate hikes. Signs of returning contagion fears in regional US banks also weighed on the global market mood."
Going ahead, Mitul Shah - Head of Research at Reliance Securities said, the markets will keep one eye on the quarterly results & the management commentary while also focusing on the US regional banking crisis, US government debt concerns, unemployment data, and crude oil prices. Meanwhile, as expected the FED increased interest rates by 25bps. Indian bond yields have corrected by ~50bps from its peak to 7.02% lowering the borrowing cost for government and corporates. A steep correction in Brent crude prices is an additional tailwind for the Indian economy.
ECB is the next in line to announce its May monetary policy outcomes later on Thursday. Expectations are that ECB may slower the pace of interest rate hikes as inflation eased for the first time in 10 months.
On Wednesday, the US Federal Reserve continued on its path of achieving maximum employment and an inflation rate of 2% in the long run and accordingly raised the target range for the federal funds rate to 5 to 5-1/4 percent. FOMC would be prepared to adjust the stance of monetary policy as appropriate. Also, for future rate hikes, the chair Jerome Powell said that the Fed will take a data-depended approach to determine the rate decisions ahead.
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- Top Gainers
- Top Losers
- 52 Week High