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Business News/ Markets / Stock Markets/  Top gainers, losers today: Bajaj twins, JSW Steel, Asian Paints, L&T, Jio Financial Services; check full list
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Top gainers, losers today: Bajaj twins, JSW Steel, Asian Paints, L&T, Jio Financial Services; check full list

Top gainers, losers: Bajaj Finserv and Bajaj Finance emerged as the top gainers on both Sensex and Nifty50. JSW Steel and L&T were the major drags today.

Sensex closed with a loss of 366 points, or 0.56 per cent, at 64,886.51 (MINT_PRINT)Premium
Sensex closed with a loss of 366 points, or 0.56 per cent, at 64,886.51 (MINT_PRINT)

Domestic equity benchmarks Sensex and Nifty extended losses for the second consecutive session on Friday, August 25 as the market witnessed an all-round selloff while investors directed their attention towards the Jackson Hole symposium in search of indications about the future direction of interest rates. In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled in the negative territory.

Sensex closed with a loss of 366 points, or 0.56 per cent, at 64,886.51 while the Nifty50 closed the day at 19,265.80, down 121 points, or 0.62 per cent. All sectors traded in sync with the benchmark wherein realty, metal and pharma were the top losers.

Oil-to-telecom conglomerate Reliance Industries lost 0.46 per cent on Friday, and extended weekly losses to 3.46 per cent, its worst week in more than five months. Mid and smallcap indices also suffered losses today. The BSE Midcap index ended with a loss of 0.85 per cent while the Smallcap index ended 0.24 per cent lower.

The slide in domestic equities on Friday came after the minutes of the Reserve Bank of India (RBI) Monetary Policy Committee (MPC) latest policy meeting flagged near-term risks to inflation due to a recent spike in food prices and a liquidity overhang in the banking system.

The minutes from the RBI MPC meeting reiterated their dedication to managing inflation within the target range, given the elevated domestic inflation levels. ‘’However, the expectation of a rate hike remains subdued, as the current high inflation is perceived as transitory,'' said Vinod Nair, Head of Research at Geojit Financial Services.

For the week, Sensex slipped by 0.10 per cent while the Nifty declined by 0.23 per cent. On the other hand, the BSE Midcap index rose 1.50 per cent while the Smallcap index jumped 2.19 per cent for the week.

Investors now await Federal Reserve Chair Powell's speech at an annual gathering of global central bankers, due later on Friday, for cues into the US central bank's rate trajectory.

Here is the list of stocks which are the top gainers and losers during August 25th trading session:

Sensex:

Top gainers: Bajaj Finserv (2.365), Bajaj Finance (1.04%), Asian Paints (1.04%), Bharti Airtel (0.415), and Titan (0.225)

Top losers: IndusInd Bank (-1.89%), JSW Steel (-1.88%), Larsen & Toubro (-1.79%), UltraTech Cement (-1.72%), and Jio Financial Services (-1.69%)

 

Nifty50:

Top gainers: Jio Financial Services (3.82%), Bajaj Finserv (2.41%), Asian Paints (0.94%), Bajaj Finance (0.67%), and Oil and Natural Gas Corporation (ONGC) (0.66%)

Top losers: Larsen & Toubro (-2.09%), Dr Reddy's Laboratories (-2.07%), JSW Steel (-2.02%), Adani Ports (-1.99%), and Adani Enterprises (-1.95%)

 

BSE:

Top gainers: Jaiprakash Associates (13.23%), Electrosteel Castings Ltd (11.40%), Gabriel India Ltd (10.19%), Asahi India Glass Ltd (9.47%), and Vodafone Idea (9.315)

Top losers: Shoppers Stop (-12.64%), Welspun Enterprises (-6.97%), Bajaj Hindusthan Sugar (-5.95%), LT Foods Ltd (-5.82%), and GMR Airports Infrastructure Ltd (-4.15%)

 

NSE:

Top gainers: Ind-Swift Laboratories (19.98%), Parag Milk Food Ltd (14.94%), Excel Realty & Infra (14.29%), Jaiprakash Associates (13.04%), and GFL Limited (12.98%)

Top losers: Shoppers Stop (-13.08%), Shekhawati Poly-Yarn Ltd (-10%), Keynote Financial Services Ltd (-8.02%), BF Utilities Ltd (-6.79%), and Welspun Enterprises (-6.78%)

 

Where are markets headed?

Nifty has breached the crucial support of short term moving average i.e. 50 EMA on Friday, which indicates the tone to remain negative. 

‘’We are eyeing 19,100 as the next support. However, a mixed trend on the sectoral front would continue to offer trading opportunities on both sides so plan your trades accordingly,'' said Ajit Mishra, SVP - Technical Research, Religare Broking Ltd.

Analysts at domestic brokerage house Anand Rathi said that even if the market corrects in the near-term, equity return over the next 12 months is likely to remain healthy.

Disclaimer: The views and recommendations above are those of individual analysts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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ABOUT THE AUTHOR
Nikita Prasad
Nikita covers business news and has been producing news on digital platforms since 2018. She writes on economy, policy, markets, commodities, industry. Her core areas of interests include infrastructure, energy, oil and gas, railways, and transport/mobility. She has worked for business news channels like Moneycontrol, NDTV Profit, and Financial Express in the past. If you have story ideas/pitches/reports or quotes/views to share, reach her at nikita.prasad@htdigital.in.
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Published: 25 Aug 2023, 04:17 PM IST
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