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Business News/ Markets / Stock Markets/  Top losers, gainers today: Tata Steel, Tata Motors, Nestle India, Asian Paints among most active stocks
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Top losers, gainers today: Tata Steel, Tata Motors, Nestle India, Asian Paints among most active stocks

Sensex and Nifty decline due to negative economic data from China, euro zone, and US, impacting risk sentiment.

The Nifty 50 index was down 1.05% at 19,526.55, while the S&P BSE Sensex fell 1.02% to 65,782.78.Premium
The Nifty 50 index was down 1.05% at 19,526.55, while the S&P BSE Sensex fell 1.02% to 65,782.78.

Domestic benchmark equity indices, Sensex and Nifty had a significant decline on Wednesday's trading session as a result of negative economic data coming out of China, the euro zone, and the US, which prompted caution and had an impact on the risk sentiment.

The Nifty 50 index was down 1.05% at 19,526.55, while the S&P BSE Sensex fell 1.02% to 65,782.78. Also, the fear gauge index, India VIX soared and closed 9.67% higher amid negative cues from global markets.

“VIX soars high after tracking negative cues from global markets promoting investors to book profits in domestic indexes which was due in Indian markets after continued outperforming in last one quarter," said Prashanth Tapse, Research Analyst, Senior Vice President of Research at Mehta Equities.

Hero MotoCorp Ltd, Tata Steel Ltd, Tata Motors Ltd, Bajaj Finserv Ltd, and NTPC were among the top losers of Nifty, while Divi's Laboratories Ltd, Nestle India Ltd, Hindustan Unilever Ltd, Asian Paints Ltd, and Tech Mahindra Ltd were among the top gainers. All the Nifty sectoral indices ended in red.

Investor optimism dampened following Fitch's downgrade of the U.S. long-term debt rating due to fiscal concerns and disappointing factory activity data from China and the euro zone.

Asian markets tumbled alongside Wall Street as traders were taken aback by the downgrading of US sovereign debt, weak economic data, and worries over inflated valuations on Wednesday.

Tokyo's Nikkei 225 closed 1.8% at 32,861.29, Hong Kong's Hang Seng Index ended down 0.5% at 19,916.77, and Shanghai Composite was down 0.2% at 3,285.32.

“The Indian market witnessed a broad sectoral slide, affected by weak global market trends. Negative news regarding the US rating downgrade on fiscal concerns, coupled with weak factory activity data from Eurozone and China, led to widespread worries across the globe. Additionally, prolonged FII selling, triggered by a rise in US bond yields, has disrupted the mood of the domestic market," said Vinod Nair, Head of Research at Geojit Financial Services.

Also Read: Market Wrap: Sensex, Nifty end with deep cuts on all-round selloff; investors lose over 3 lakh crore in a day

Here is the list of stocks who are top losers and gainers during August 2 trading session:

Sensex

Top Losers: Tata Steel Ltd (down 3.45%), Tata Motors Ltd (down 3.19%), Bajaj Finserv Ltd (down 2.89), NTPC (down 2.69%), and JSW Steel Ltd (down 2.17%).

Top Gainers: Nestle India Ltd (up 1.15%), Hindustan Unilever Ltd (up 0.75%), Asian Paints Ltd (up 0.64%), and Tech Mahindra Ltd (up 0.24%).

Nifty 

Top Losers: Hero MotoCorp Ltd (down 3.5%), Tata Steel Ltd (down 3.3%), Tata Motors Ltd (down 3.2%), Bajaj Finserv Ltd (down 3.02%), and NTPC Ltd (down 2.6%).

Top Gainers: Divi's Laboratories Ltd (up 1.52%), Nestle India Ltd (up 0.94%), Hindustan Unilever Ltd (up 0.82%), Asian Paints Ltd (up 0.54%), and Tech Mahindra Ltd (up 0.35%).

BSE

Top Losers: Redington Ltd (down 10.29%), Strides Pharma Science Ltd (down 7.06%), Power Mech Projects Ltd (down 6.94%), Jindal Saw Ltd (down 6.29%)

Top Gainers: Star Cement Ltd (up 10.32%), Cressanda Solutions Ltd (up 7.28%), Reliance Power Ltd (up 7.01%), and Rattanindia Enterprises Ltd (up 6.67%).

NSE

Top Losers: Redington Ltd (down 10.48%), Sula Vineyards Ltd (down 8.12%), Sindhu Trade Links Ltd (down 8.02%), Avonmore Capital & Management Services Ltd (down 7.98%), and Tracxn Technologies Ltd (down 7.89%).

Top Gainers: Excel Realty N Infra Ltd (up 14.29%), Man Industries (India) Ltd (up 13.81%), Star Cement Ltd (up 12.34%), Anik Industries Ltd (up 11.72%), and GE Power India Ltd (up 11.08%). 

Also Read: Five reasons why Sensex today is falling nearly 1,000 points - Explained

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Published: 02 Aug 2023, 03:41 PM IST
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