Top Gainers & Losers on Dec 22: Jupiter Wagons, Cochin Shipyard, MCX, Nalco, Trent, Wipro among top gainers today

The Indian stock market stayed higher for the second session on Monday, December 22, as overseas investors turned net buyers in recent sessions, boosting market sentiment, while a strong rally in tech and metal stocks also supported the frontline indices in starting the week on a positive note.

After surging 0.56%, the Nifty 50 advanced another 0.79% to reclaim the 26,000 mark, settling at 26,172, while the S&P BSE Sensex jumped 0.75% to 85,567. The broader market closed with even higher gains, with the Nifty Midcap 100 and Nifty Smallcap 100 indexes surging 0.76% and 1.07%, respectively.

All major sectors advanced, led by Nifty IT, which surged 2%, followed by Nifty Chemicals, Nifty Metal, Nifty Auto, and Nifty Pharma, all rising between 0.7% and 1.4%.

After remaining net sellers for the first half of December, foreign portfolio investors turned net buyers in the last three trading sessions, pouring in a cumulative ₹3,596 crore, as per the exchange data, amid a sharp recovery in the Indian rupee.

In addition, global risk appetite improved after the latest US economic data reinforced expectations of further interest rate cuts by the US Federal Reserve.

Defence, railway and metal stocks lead the rally

Jupiter Wagons led gainers list, with the stock rallying 19.3% to ₹312.30 apiece after the company’s promoter group increased its stake in the firm to 19.24% from 18.69% on Friday.

Other railway-focused stocks also closed with sharp gains, with Ramkrishna Forgings, Titagarh Rail Systems, RailTel Corporation of India, Rail Vikas Nigam, Ircon International, IRFC, and Indian Railway Catering & Tourism Corporation surging between 1% and 8%.

The rally followed the Indian Railways’ announcement of a rationalisation of passenger fares on Sunday, with a revised fare structure set to take effect from December 26. The move is aimed at balancing rising operational costs while minimising the impact on passengers.

In line with the railway pack, defence stocks also posted strong gains, with Cochin Shipyard, Solar Industries India, Garden Reach Shipbuilders, Mazagon Dock Shipbuilders, and Bharat Dynamics rallying between 4% and 6%.

Metal stocks attracted strong buying interest amid a continued rally in base metal prices and a weakening US dollar index. Shares of National Aluminium Company, Hindustan Copper, Lloyds Metals & Energy, SAIL, Welspun Corp, and Hindustan Zinc surged between 3% and 4%.

Meanwhile, large- and mid-cap technology stocks also advanced, with Birlasoft, Newgen Software Technologies, Persistent Systems, Wipro, Infosys, eClerx Services, and Firstsource Solutions gaining up to 3%.

Capital market-related stocks such as MCX, BSE, and Motilal Oswal Financial Services also posted solid gains of 5%, 3.4%, and 3.2%, respectively.

Reliance Power, Hexaware lead losses despite broader market rally

Despite a strong rally in the broader market, some select stocks posted sharp losses, led by Reliance Power, which tanked 8.5% to ₹35.3 apiece. This was followed by Hexaware Technologies and Siemens Energy India, which cracked 5.9% and 4.8%, respectively.

Extending its losing streak for the second straight session, Cholamandalam Investment Finance Company tumbled another 3.8% to ₹1,584 apiece. EMS major Dixon Technologies came under renewed selling pressure after a brief pause, falling 3.20% to ₹12,845 apiece.

Other stocks such as Home First Finance, Motherson Sumi Wiring India, Sammaan Capital, Aegis Vopak Terminals, and Neuland Laboratories declined between 2% and 3%.

Disclaimer: We advise investors to check with certified experts before making any investment decisions.