Top Gainers & Losers on Sep 16: Redington, Godfrey Phillips, Reliance Power, KPR Mill, Swiggy among top gainers

The Indian stock market resumed its winning streak on Tuesday, September 16, after a one-day pause, supported largely by financials. Strong gains in auto and realty stocks also helped frontline indices to reach an 11-week high.

The Nifty 50 ended the session up 0.68%, closing above the 25,239 mark at 25,232, while the S&P BSE Sensex surged 0.73% to finish at 82,380. Broader markets also recorded sharp gains, with the Nifty Midcap 100 rising 0.54% and the Nifty Smallcap 100 rallying nearly 1%.

Sector-wise, the Nifty Auto index led the gains, rising 1.26%, followed by Nifty Realty and Nifty Media, which added 1.04% and 0.86%, respectively. The Nifty Bank index also advanced 0.50%. On the losing side, Nifty FMCG was the top laggard, slipping 0.42%.

Investors are closely watching trade developments between India and the US, as negotiations are set to resume today. Markets hope these talks will lead to progress toward a potential trade deal, which was put on hold following the White House’s imposition of an additional 25% tariff on Indian imports.

The US Federal Reserve meeting will also be under scrutiny, as expectations rise that the central bank may announce at least a quarter-point cut in interest rates. Weakening economic data, particularly in the labor market, could prompt the Fed to take action after rates have been paused for five consecutive meetings.

Redington, Godfrey Phillips lead the winners’ list

Redington was the top performer in today’s session, with the stock hitting the 20% upper circuit limit at ₹289.70 apiece on the back of large volumes. Godfrey Phillips India shares also closed with a sharp gain of 7% at ₹3,646 apiece, as the stock turned ex-bonus today with a ratio of 2:1.

The cigarette maker’s shares closed at ₹10,229 on Monday, September 15. On Tuesday morning, the stock opened at ₹3,501, a 66% drop that aligns precisely with the 2:1 bonus share adjustment, resulting in an adjusted price of ₹3,431 per share. The bonus issue effectively tripled the number of outstanding equity shares and adjusted the price accordingly.

Great Eastern Shipping, Aegis Logistics, and Usha Martin also closed with gains of up to 6.6%. Meanwhile, Reliance Power shares were locked at a 5% upper circuit, providing some relief after remaining under pressure in recent trading sessions.

Textile stocks have also come under the bulls’ radar, with KPR Mill, Vardhman Textiles, and Trident rallying up to 5% amid growing optimism that trade negotiations between India and the US could progress toward finalizing a trade deal.

Auto and tyre stocks such as Mahindra & Mahindra, CEAT, and Balkrishna Industries closed with sharp gains. After remaining under pressure in recent sessions, Swiggy also saw its stock price soar 3% to ₹437 apiece.

Godawari Power & Ispat lead the losers’ chart

Godawari Power & Ispat emerged as the top laggard, losing 3% to ₹262 apiece, followed by JBM Auto and HBL Engineering, each down 2.5%. After rallying for three consecutive trading sessions, Vodafone Idea shares fell 2.46% to ₹7.95 apiece, as investors locked in gains following the strong rally.

Concord Biotech was also among the top losers, declining 2.4% to ₹1,621 apiece. Additionally, Godrej Consumer Products, Gujarat Mineral Development, and Garden Reach Shipbuilders, which had gained in recent sessions, came under pressure, each slipping over 2%. Ola Electric Mobility shares were also down 2% to ₹59.33.

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