BackTop gainers, losers today: Asian Paints, M&M, Tech Mahindra, ICICI Bank among most active stocks; check full list
Top gainers, losers today: Heavyweights including Tech Mahindra, Asian Paints emerged as the top gainers, while M&M and ICICI Bank were the major drags
PremiumDomestic equity benchmarks Sensex and Nifty settled lower for the third straight session as the market saw an all-round selloff on Thursday, September 21. Weak global cues continued weighing on domestic market sentiment. Global equities fell after the US Federal Reserve held the overnight interest rate unchanged at a 22-year high mark - 5.25 per cent - 5.50 per cent, and signalled that they expect to raise rates once more this year to fight inflation.
Nifty 50 closed with a loss of 159 points, or 0.80 per cent, at 19,742.35 while the Sensex ended at 66,230.24, down 571 points, or 0.85 per cent. Both the indices are down more than 2 per cent so far this week, after gaining 2 per cent each and hitting all-time highs in the previous week.
Mid and smallcaps underperformed the benchmarks as the BSE Midcap index fell 0.99 per cent and the smallcap index ended with a loss of 0.98 per cent. Banking and auto stocks were the top losers among sectoral indexes. The bank index and autos fell 1.7 per cent each, while the public sector bank index dropped 2.2 per cent.
Commenting on today's market performance, Vinod Nair, Head of Research at Geojit Financial Services said, "Domestic market declined following a hawkish stance by the Fed chair and prolonged high interest rate trajectory which is not positive for a slowing global economy.
PSU Banks and mid and smallcaps were the worst hit due to stretched valuations and concern over moderation in yields. Rising oil prices and erratic rainfall further led investors to stay cautious in the market,'' added Nair.
Here is the list of stocks which are the top gainers and losers during September 21st trading session:
Sensex:
Top gainers: Tech Mahindra (1.46%), Asian Paints (0.83%), Infosys (0.80%), Bharti Airtel (0.78%), and Hindustan Unilever (0.29%)
Top losers: Mahindra & Mahindra (-3.08%), ICICI Bank (-2.81%), State Bank of India (-2.12%), IndusInd Bank (-2.02%), and Kotak Mahindra Bank (-1.89%)
Nifty50:
Top gainers: Adani Ports (1.74%), Tech Mahindra (1.43%), Dr Reddy's Laboratories (1.10%), Asian Paints (1.05%), and Bharti Airtel (1.02%)
Top losers: Mahindra & Mahindra (-2.88%), ICICI Bank (-2.81%), Cipla (-2.47%), State Bank of India (-2.20%), and IndusInd Bank (-2.04%)
BSE:
Top gainers: KSB Ltd (14.04%), EKI Energy Services (10.15%), Nava Ltd (9.19%), Gujarat Ambuja Exports Ltd (7.28%), and Syrma SGS Technology (4.33%)
Top losers: SJVN (-13.05%), Greenlam Industries (-6.53%), Cressanda Solutions Ltd (-6.31%), DB Realty (-6.18%), and NHPC (-5.83%)
NSE:
Top gainers: STL Global Ltd (20%), Jindal Photo Ltd (20%), Prime Focus Ltd (15.34%), Murudeshwar Ceramics Ltd (14.76%), and KSB Ltd (13.45%)
Top losers: SJVN (-12.26%), Greenlam Industries (-7.09%), DB Realty (-6.63%), Bannari Amman Sugars Ltd (-6.35%), and Bannari Amman Sugars Ltd (-5.82%)
Where is Nifty headed?
‘’Nifty has tested the short-term moving i.e. 20 EMA and also retraced almost fifty percent of the recent up move. It may take a breather now but the upside seems capped citing the underperformance of select heavyweights. We thus recommend staying stock-specific with a focus on risk management,'' said Ajit Mishra, SVP - Technical Research, Religare Broking Ltd.
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