Top Gainers & Losers on Dec 18: HDFC AMC, Hindustan Copper, PB Fintech, IndiGo, Hindustan Zinc among top gainers

The Indian stock market was largely unchanged in Thursday’s session, December 18, as it lacked clear direction following three consecutive days of losses. Weak global cues and a lack of fresh triggers continued to keep sentiment subdued, even as the Indian rupee staged a strong recovery.

Both the Nifty 50 and Sensex closed flat, while the broader market managed to buck the trend, as the Nifty Midcap 100 and Nifty Smallcap 100 indices rallied 0.34% and 0.13%, respectively.

After remaining net sellers for 14 trading sessions, FPIs turned net buyers, pouring ₹1,171 crore into equities during Wednesday’s trade. Analysts said that a weakening global AI trade amid valuation concerns is prompting overseas investors to shift their focus back towards emerging markets.

Vinod Nair, Head of Research, Geojit Investments Limited, said, "Domestic equities navigated a volatile session amid subdued global cues, with large-cap stocks lagging behind mid- and small-cap counterparts. After three consecutive declines, early gains were supported by value buying and a rupee recovery aided by central bank intervention. However, lingering uncertainty over a potential U.S.–India trade deal dampened sentiment, prompting profit-booking later in the day."

Sector-wise, performance was mixed, with media, auto, pharma, and oil and gas stocks witnessing selling pressure, while IT, consumer durables, real estate, and metal stocks attracted buying interest.

HBL Engineering, AMC stocks lead gains

HBL Engineering led the gainers’ pack on Thursday, rallying 7.4% to ₹819 apiece, while AMC stocks, including HDFC AMC, Nippon Life India AMC, and UTI AMC, posted sharp gains of 7.2%, 6%, and 2.3%, respectively, after the market regulator approved changes to the mutual fund fee structure to encourage greater transparency in cost break-ups.

Citi said the impact of the move is largely neutral for large asset management companies and slightly positive for mid-sized firms with higher distributor payouts.

Meanwhile, Reliance Power and Reliance Infrastructure shares continued to trade higher in a weak market, rising another 6% and 5%, respectively. After remaining under pressure over the last two sessions, PB Fintech shares reversed losses, rallying 4% to ₹1,834 apiece.

Hindustan Zinc gained another 2.4% to ₹592.20 as the record-breaking rally in silver prices extended. IndiGo shares extended gains for the sixth consecutive session after the airline’s CEO, Pieter Elbers, said the “worst is behind us” as the carrier recovers from widespread cancellations over the past two weeks.

The continued rise in copper prices kept Hindustan Copper in focus, with the stock surging another 5.2% to ₹387.50 apiece. Crompton Greaves Consumer Electricals shares jumped 3% after brokerage Motilal Oswal initiated coverage with a ‘Buy’ rating and set a target price of ₹350 apiece.

Other top gainers included Motilal Oswal Financial Services, KFIN Technologies, Radico Khaitan, Oberoi Realty, Swiggy, and Brainbees Solutions, which rallied between 3% and 4%.

OLA Electric slides to record low; OMC stocks dragged by rising crude prices

Losses in OLA Electric deepened further as the shares crashed another 5% to a fresh record low of ₹31.30 apiece, contributing to a 64% erosion in value so far in the current calendar year.

The stock’s slide follows a stake sale by the company’s founder, Bhavish Aggarwal, who sold an additional 4.2 crore shares on Wednesday. This came just a day after he sold 2.6 crore shares on Tuesday.

Oil marketing company (OMC) stocks such as Indian Oil Corporation, Hindustan Petroleum, and Bharat Petroleum Corporation also came under pressure after crude oil prices moved above the $60 per barrel mark, supported by rising geopolitical tensions.

The US has ordered a full shutdown of maritime traffic involving sanctioned oil tankers operating to and from Venezuela, following last week’s escalation in which US forces seized a blacklisted tanker off the country’s coast.

Other top laggards included PTC Industries, Cummins India, Poly Medicure, JK Cement, Netweb Technologies, Cera Sanitaryware, Kirloskar Brothers, and Dalmia Bharat, which shed between 2.4% and 3%.

Disclaimer: We advise investors to check with certified experts before making any investment decisions.