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Business News/ Markets / Stock Markets/  Top gainers, losers today: JSW Steel, M&M, Maruti Suzuki, Bajaj Finance; check full list
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Top gainers, losers today: JSW Steel, M&M, Maruti Suzuki, Bajaj Finance; check full list

Sensex remained in the red for the most part of the day, falling 402 points to hit the intraday low of 65,444.38. However, fag end buying saved the index from ending in the negative territory.

Sensex remained in the red for the most part of the day, falling 402 points to hit the intraday low of 65,444.38 (MINT_PRINT)Premium
Sensex remained in the red for the most part of the day, falling 402 points to hit the intraday low of 65,444.38 (MINT_PRINT)

Domestic equity indices Sensex and Nifty ended higher on August 9, on late-session buying activity just one day before the monetary policy outcome. The three-day meeting of the six members of the monetary policy committee (MPC) of the Reserve Bank of India (RBI) started on August 8 will conclude on Thursday (August 10). Economists believe the RBI will maintain a status quo on rates and stance.

Besides, positive global cues also underpinned sentiment. Major European markets were trading with healthy gains when Sensex closed. European stocks rose after Italy said that the new windfall tax on banks would not amount to more than 0.1 per cent of their assets. Italy announced a 40 per cent windfall tax on banks for the year 2023.

Sensex opened 36 points lower at 65,810.96 against the previous close of 65,846.50. The index remained in the red for the most part of the day, falling 402 points to hit the intraday low of 65,444.38. However, fag end buying saved the index from ending in the negative territory.

‘’The domestic market started adopting a defensive stance as investors awaited crucial inflation data for both India and the US. The deflationary trend in China and downgrade of the US mid- and small-sized banks affected the market sentiment,'' said Vinod Nair, Head of Research at Geojit Financial Services.

However, a late recovery in the domestic market was supported by a positive uptick in the European market and hope of an optimistic RBI policy not impacting domestic economic growth

Sensex closed 149 points, or 0.23 per cent, higher at 65,995.81 while the Nifty closed the day at 19,632.55, up 62 points, or 0.32 per cent. Mid and smallcaps outperformed the benchmark. The BSE Midcap index rose 0.39 per cent while the Smallcap index ended with a gain of 0.57 per cent.

‘’After the weak start, Nifty inched gradually lower and oscillated in the narrow range in the middle however a sharp recovery in the final hours completely changed the tone. Eventually, it settled closer to the day’s high at 19632 levels; up by 0.32 per cent. Among the sectoral indices, metal, auto and pharma posted decent gains while realty remained under pressure,'' said Ajit Mishra, SVP - Technical Research, Religare Broking.

 

Here is the list of stocks which are the top gainers and losers during August 9th trading session:

Sensex:

Top gainers: JSW Steel (2.68%), Tata Motors (2.57%), Mahindra & Mahindra (2.35%), Tech Mahindra (1.88%), and Tata Steel (1.74%).

Top losers: Bajaj Finance (-0.87%), Maruti Suzuki (-0.87%), ICICI Bank (-0.81%), UltraTech Cement (-0.64%), and Power Grid Corporation (0.52%).

 

Nifty50:

Top gainers: Dr Reddy's Laboratories (3.92%), JSW Steel (3.20%), Hindalco (2.91%), Tata Motors (2.67%), and Mahindra & Mahindra (2.41%).

Top losers: Divi's Laboratories (-2.67%), Apollo Hospitals (-0.965), Maruti Suzuki (-0.78%), Bajaj Finance (-0.75%), and Asian Paints (-0.68%). 

 

BSE:

Top gainers: Rattanindia Enterprises (20%), Hindustan Construction Co Ltd (19.96%), Repco Home Finance (11.53%), Dish TV India (11.09%), and Bajaj Hindusthan Sugar (11.01%)

Top losers: Mishra Dhatu Nigam (-7.17%), Shilpa Medicare Ltd (4.59%), EPL Ltd (4.57%), NIIT Ltd (-3.99%), and Gujarat State Fertilisers & Chemicals (-3.86%)

 

NSE:

Top gainers: Brooks Lab Ltd-RE (39.7%), Simplex Infrastructure Ltd (20%), Tasty Bite Eatables (20%), Orissa Bengal Carrier (19.96%), and Rattanindia Enterprises (19.93%)

Top losers: Shree Ram Pro Ltd-RE (-50%), Dreamfolks Services (-20%), Muthoot Capital Services (-13.09%), Taj GVK Hotels & Resorts (-8.93%), and Reliance Home Finance (-8.70%)

 

Where is Nifty headed?

The Nifty index experienced a strong resurgence of bullish momentum, resulting in a sharp recovery from its previous lower levels, according to analysts.

Religare Broking's Ajit Mishra says that bulls are trying hard to reclaim some strength but it would be tough without the participation from the banking majors. ‘’Traders should continue with stock-specific trading approach and focus on sectors that are attracting buying interest,'' he added.

‘’At present, the index is positioned in close proximity to a critical resistance zone at 19,640, which aligns with its 20-day moving average (20DMA).A conclusive break above the 19,700 level, especially on a closing basis, would not only signify a reversal of the recent downtrend but also potentially open the path for further upward movement, with an eye towards the 20,000 mark,'' said Kunal Shah, Senior Technical & Derivative analyst at LKP Securities.

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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: 09 Aug 2023, 04:20 PM IST
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