Top gainers, losers today: NTPC, JSW Steel, Nestle, UltraTech Cement among most active stocks today; check full list
Top gainers, losers today: Heavyweight NTPC was the lead gainer among Sensex stocks, rising by 4.84 per cent.
PremiumDomestic equity benchmarks Sensex and Nifty settled higher on the first session of September, boosted by all-around buying in light of broadly positive global cues ahead of the release of the US jobs data as well as strong domestic macro data.
Government data released on Thursday showed that the Indian economy grew 7.8 per cent in the April-June quarter of fiscal 2023-2024, mainly on the back of double-digit expansion in the services sector, and retained its position as the world's fastest-growing major economy.
Domestic markets snapped its five week-losing run today after the gross domestic product (GDP) data showed that the economy grew at its quickest pace in a year during the June quarter, which could boost foreign fund inflows.
Gains in US futures supported the positive sentiment. Dow futures was up 0.3 per cent and S&P 500 futures rose 0.2 per cent. Among Asian markets, Japan's benchmark Nikkei 225 rose 0.3 per cent, South Korea's Kospi added 0.3 per cent and the Shanghai Composite added 0.4 per cent.
Sensex closed 556 points, or 0.86 per cent, higher at 65,387.16 while the Nifty closed the day with a gain of 182 points, or 0.94 per cent, at 19,435.30. The indices gained 0.88 per cent and 0.77 per cent, respectively for the week after having logged losses in each of the past five weeks since hitting record highs on July 20.
BSE Midcap and Smallcap indices hit their fresh record highs of 31,461.26 and 37,460.24 respectively during the session. Investors await the US jobs report later in the day. A rise in unemployment could allow the Federal Reserve to pause rate hikes at its September meeting.
Commenting on today's market performance, Vinod Nair, Head of Research at Geojit Financial Services said, ‘’Domestic markets made significant gains, buoyed by favourable global cues, a higher-than-expected domestic manufacturing PMI, and positive GDP growth data. This robust economic outlook propelled key manufacturing sectors to lead the rally, while strong sales figures generated increased interest in auto stocks.''
Here is the list of stocks which are the top gainers and losers during September 1st trading session:
Sensex:
Top gainers: NTPC (4.84%), JSW Steel (3.37%), Tata Steel (3.33%), Maruti Suzuki (3.24%), and Power Grid Corporation (3.07%)
Top losers: UltraTech Cement (-0.50%), Sun Pharmaceuticals (-0.34%), Nestle India (-0.26%), Larsen & Toubro (-0.17%)
Nifty50:
Top gainers: NTPC (5.02%), Jio Financial Services (4.99%), Oil and Natural Gas Corporation (ONGC) (4.05%), JSW Steel (3.51%), and Tata Steel (3.17%)
Top losers: Cipla (-1.01%), HDFC Life Insurance (-0.58%), Dr Reddy's Laboratories (-0.56%), Nestle India (-0.35%), and UltraTech Cement (-0.33%)
BSE:
Top gainers: RailTel Corporation (15.98%), Coffee Day Enterprises (12.65%), BHEL (12.20%), Mahanagar Telephone Nigam Ltd (MTNL) (11.55%), and DCM Shriram (11.22%)
Top losers: Poly Medicure Ltd (-4.93%), Newgen Software Technologies (-4.57%), Aether Industries (-4.02%), HDFC Asset Management Company (AMC) (-3.535), and Krishna Institute of Medical Sciences (-3.33%)
NSE:
Top gainers: Landmark Property Development Company (LPDC) (19.83%), Mahanagar Telephone Nigam Ltd (MTNL) (17.11%), Pokarna Ltd (16.25%), Rossell India Ltd (15.80%), and Bharat Road Network Ltd (15.43%)
Top losers: Atal Realtech Ltd (-19.99%), Pennar Industries (-5.66%), Antarctica Ltd (-5.26%), Parsvnath Developers Ltd (-5.24%), and Brightcom Group (-5%)
Where is Nifty headed?
"Nifty has started the September series on a bullish note, as the index has moved above the 21EMA for the first time in several days. This suggests the potential for a bullish reversal. Additionally, the index has broken out of a falling channel, further indicating increasing bullish sentiment,'' said Nifty from Rupak De, Senior Technical Analyst at LKP Securities.
‘’Looking at the higher end of the spectrum, there is now a resistance level at 19,530 points. If the Nifty manages to breach this resistance, it could signal a continuation of the uptrend. On the lower end, there is strong support at 19,340 points'', added De.
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