Top Gainers & Losers on Sep 19: Adani Power, Anant Raj, Vodafone Idea, Swiggy, TBO Tek among top gainers today

The three-day rally in the Indian stock market ended on Friday, September 19, as sentiment weakened following the United States announcement of the revocation of the sanction's waiver for Iran's Chabahar Port.

Markets opened lower and showed no signs of reversal as the day progressed, with the Nifty 50 closing the session down 0.38% at 25,327, while the S&P BSE Sensex ended 0.47% lower at 82,626. However, both indices posted weekly gains of over 1%.

The broader markets managed to tick higher, with the Nifty Midcap 100 and Nifty Smallcap 100 rising 0.17% and 0.12%, respectively. For the week, both indices surged nearly 3%.

Sector-wise, the Nifty PSU Bank led the gains, rising 1.28%, followed by Nifty Realty and Nifty Pharma, which added 0.55% and 0.50%, respectively. The Nifty Bank index also advanced 0.42%. On the losing side, Nifty Private Bank was the top laggard, slipping 0.65%, followed by Nifty Consumer Durables, which also dropped 0.65%.

Market participants attributed the pressure to the US administration's fresh decision to withdraw the special waiver granted to India in 2018 for operations at the Chabahar Port in Iran.

According to a statement issued by the US Department of State, operators of the Chabahar Port will face American sanctions beginning September 29. The move, seen as another hard step by Washington against India, raised concerns for New Delhi's strategic and trade interests.

Adani Group Stocks emerge as top performers

All Adani Group stocks rose sharply, with Adani Power surging 12.4% to ₹709 apiece, followed by Adani Total Gas, Adani Enterprises, Adani Green Energy, and Adani Energy Solutions, which closed with gains between 5% and 7%.

Sentiment towards the group improved after market regulator SEBI dismissed allegations made by US short-seller Hindenburg Research against the Adani Group and its chairman, Gautam Adani. The ruling signaled a possible end to the conglomerate’s prolonged regulatory troubles.

Meanwhile, media reports suggested that global brokerage Morgan Stanley initiated coverage on Adani Group stocks with an overweight rating. It set a target price of ₹818 for Adani Power, implying a 29% upside from the last close.

Among other notable movers, Anant Raj was a top gainer, rising 9.4% to ₹640 apiece, while PCBL Chemical and Alivus Life Sciences each closed with gains of over 6%.

Vodafone Idea also jumped 7.1% to ₹8.4 apeice after the government informed the Supreme Court that it was not opposing the telecom operator’s plea in the Adjusted Gross Revenue (AGR) case and emphasized the need for a resolution.

Other gainers included Swiggy, which advanced 4.6%, along with NMDC Steel, TBO Tek, Vishal Mega Mart, IREDA, GMDC, Hyundai Motor India, and Redington, all of which closed higher by over 3%.

Paytm, Emami, Atul among top laggards

Despite the market turning lower, only a few stocks closed with sharp losses, with Jubilant Ingrevia emerging at the top as it fell 5% to ₹673 apiece, followed by Piramal Enterprises, which dropped 4.7% to ₹1,122.

Paytm also came under pressure, sliding 4.2% to ₹1,177, slipping below the ₹1,200 mark. FMCG major Emami declined 3.7% to ₹579.

Other notable laggards included Asahi India Glass, PTC Industries, Godrej Industries, Poly Medicure, Raymond Lifestyle, Signatureglobal, eClerx Services, Atul, ACME Solar Holdings, and Carborundum Universal — all of which closed with losses of over 2%.

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