Top gainers, losers: NTPC, UltraTech Cement, L&T, Coal India among most active stocks today; check full list
3 min read 08 Sep 2023, 04:33 PM ISTTop gainers, losers today: NTPC, Tech Mahindra, Tata Motors were among the top gainers, while UltraTech Cement and Coal India were the major drags.
PremiumDomestic equity benchmarks Sensex and Nifty managed to close higher for the sixth consecutive session on Friday, September 8, despite a cautious global market. The benchmarks recorded their second straight week of gains and posted their best week since the week ending June 30, gaining nearly 2 per cent, each. Stocks stabilised after a near week of easing, with the MSCI All Country stock index flat.
Sensex remained in the green for the entire session on Friday despite weakness in the global market. US stock futures, dollar and Treasury yields slipped amid expectations that the US Federal Reserve will keep interest rates unchanged in its September meet. Top European markets, including the UK's FTSE, France's CAC and Germany's DAX traded with significant losses when the Sensex closed.
Sensex closed 333 points, or 0.50 per cent, higher at 66,598.91 while the Nifty closed the day at 19,819.95, up 93 points, or 0.47 per cent. In the last six sessions of gains, Sensex has risen 2.73 per cent while Nifty has risen 2.94 per cent.
The BSE Midcap index closed with a strong gain of 0.92 per cent at 32,672 after hitting its fresh record high of 32,692.74 during the session. The BSE Smallcap index also hit its fresh record high of 38,369.21 during the session but ended at 38,266.53, up 0.43 per cent.
Energy companies and public sector enterprises were top gainers, rising 1.4 per cent and 2.6 per cent, respectively. The indexes have risen 3.4 per cent and 4.5 per cent, so far this week, driven by a rally in power stocks on a sudden surge in power demand in the country.
‘’Despite a deficient monsoon the mood in the market was optimistic as PSU stocks across sectors exhibited positive investor appetite,'' said S Ranganathan, Head of Research at LKP Securities.
Banking stocks rose after the Reserve Bank of India (RBI) said it would discontinue maintenance of the incremental cash reserve ratio (I-CRR) by October 7.
Commenting on today's market performance, Vinod Nair, Head of Research at Geojit Financial Services said, "Global markets stumbled as they processed August's jobless claims data from the US and the rise in gas prices due to strikes in Australia, rekindling further slowdown. The domestic market, however, showcased its resilience once more by rallying, seemingly unfazed by global distress signals.''
‘’Although selling was seen in IT and pharma stocks due to weak global cues, the gains in infra, industrial, and capital goods stocks due to improved order inflows coupled with the persistent preference for mid- and small-cap stocks contributed to the ongoing rally,'' added Nair.
Here is the list of stocks which are the top gainers and losers during September 8th trading session:
Sensex:
Top gainers: NTPC (6.20%), Tata Motors (2.02%), Larsen & Toubro (1.93%), Bajaj Finserv (1.42%), and Bharti Airtel (1.02%)
Top losers: UltraTech Cement (-0.79%), ITC (-0.71%), Wipro (-0.58%), Tech Mahindra (-0.54%), and Tata Steel (-0.46%)
Nifty50:
Top gainers: NTPC (2.73%), Coal India (2.75%), Bharat Petroleum Corp Ltd (2.06%), Tata Motors (1.96%), and Larsen & Toubro (1.88%)
Top losers: UPL (-1.03%), Eicher Motors (-0.90%), Apollo Hospitals (-0.82%), UltraTech Cement (-0.77%), SBI Life Insurance (-0.75%)
BSE:
Top gainers: GTL Infrastructure (19.77%), Bombay Burmah Trading Corp Ltd (15.83%), Power Finance Corp (12.15%), ISGEC Heavy Engineering Ltd (11.10%), and Sobha Ltd (10.90%)
Top losers: Jaiprakash Associates (-4.90%), Dish TV (-4.79%), MMTC (-4.62%), MTNL (-4.38%), and Voltamp Transformers Ltd (-4.29%)
NSE:
Top gainers: Inventure Growth & Securities Limited (19.05%), Vikas Ecotech Ltd (18.18%), GTL Infrastructure (16.67%), DPSC Ltd (16.55%), and Shrenik Ltd (15.79%)
Top losers: Maral Overseas Ltd (-7.91%), Ind-swift Laboratories Limited (-6.05%), Dangee Dums Ltd (-5.88%), MMTC (-5.45%), and Mep Infrastructure Developers Limited (-5.07%)
Where are markets headed?
‘’Markets may take a breather after the recent surge but the tone is likely to remain positive. In case of any dip, we expect Nifty to respect 19,650 now. Since all sectors are now participating in the move, we recommend focusing on stocks, which are showing relatively higher strength within the sector,'' said Ajit Mishra, SVP - Technical Research, Religare Broking Ltd.
