Top Gainers & Losers on Feb 11: PCBL Chemical, Eicher Motors, Kaynes Tech, Apollo Hospitals among top gainers

The Indian stock market ended Wednesday’s session on a flat note, as early gains were wiped out amid profit booking after a three-day rally. Weak global cues also kept the benchmark indices largely unchanged.

After a range-bound trade, the Nifty 50 closed 0.06% higher at the 25,950 level, while the S&P BSE Sensex finished 0.06% lower at 84,244. The broader markets also witnessed muted action, as both the Nifty Midcap 100 and Nifty Smallcap 100 indices closed flat.

Despite muted broader market momentum, auto stocks sustained their bullish trajectory as companies delivered in-line December quarter results, aided by consumption tax cuts. Although elevated raw material costs weighed on margins, analysts have largely retained their estimates.

The Nifty Auto gained 1.20%, taking its month-to-date rally to 6.70%. It was followed by the Nifty PSU Bank, Nifty Pharma, and Nifty Realty indices, which rose 1%, 0.90%, and 0.63%, respectively. On the losing side, Nifty IT was the worst performer, slipping nearly 2%.

On the global front, markets are awaiting US jobs and inflation data, which could offer further clues on the Federal Reserve’s interest-rate outlook. On Tuesday, the US December retail sales report showed that consumer spending was flat.

Meanwhile, the U.S. dollar continued to grind lower for the third straight day, falling below 97 against a basket of currencies.

Auto pack shines; SBI nears ₹11 lakh crore market cap

PCBL Chemical topped the list of gainers today, surging 8.1% to settle at ₹317.8 apiece, and there was buying activity across auto stocks as investors reacted positively to earnings and order wins.

After an upbeat performance in Q3, Eicher Motors shares surged 6.5% to settle at a record high of ₹7,770 apiece, while Force Motors continued its winning momentum for the seventh straight session, rallying another 5.52% and also closing at a record high of ₹24,872 apiece.

JK Tyre & Industries saw a surge in demand, with the stock rising 5.6% to ₹603.5 apiece. Others, including ZF Commercial Vehicles, Jyoti CNC Automation, Craftsman Automation, and TVS Motor Company, rallied up to 5%.

Meanwhile, SJVN shares also reacted positively to the Q3 numbers, spiking 6.3% to ₹77.95 apiece. State Bank of India shares traded higher, adding another 3.4% to ₹1,182 apiece.

The rally pushed the bank’s market capitalization to nearly ₹11 lakh crore, overtaking TCS’ market cap of ₹10.52 lakh crore and making it the fourth most valuable listed company on the Indian stock market, as per the BSE data.

Poly Medicure, HEG lead declines as 22 Nifty 500 stocks fall over 3%

22 Nifty 500 constituents closed the session with losses of over 3%, led by Poly Medicure, which dropped 6.6% to ₹1,387 apiece.

Weaker-than-expected Q3 performance dragged HEG shares lower by 5.6% to ₹529 apiece. Torrent Power shares fell 3.7% to ₹1,428 following its December quarter numbers.

Premier Energies came under selling pressure after a brief rally, declining 5.2% to ₹780.7 apiece. Textile stocks witnessed another round of selling, with KPR Mill crashing another 4.6% to ₹907.5 apiece.

Multi Commodity Exchange dropped 4% to ₹2,372 apiece, while Swiggy shares plunged 4% to ₹342, a day after rallying nearly 7%.

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