Top gainers, losers today: Adani stocks, IndusInd Bank, SBI, Bharti Airtel; check full list here
Indian markets extended selling pressure on Friday due to broad-based selling across sectoral indices. Sensex erased a psychological mark of 63,000 and Nifty 50 dived under the 18,700 level. Global cues, a hawkish stance of global central banks, and lower estimates by Accenture for the fourth quarter of 2023 dampened overall sentiments. India’s volatility index dipped by nearly 3%.
Midcap and smallcap faced a sharp selloff with the indexes on BSE shedding around 1.2% each. Consumer durables stocks were the top bear with the index declining by over 713 points on BSE. IT, auto, banking, capital goods, metal, and oil & gas stocks also witnessed steep selling.
Sensex ended at 62,979.37, lower by 259.52 points or 0.41%. While Nifty 50 slipped by 105.75 points or 0.56% to settle at 18,665.50.
Talking about the current market performance, Vinod Nair, Head of Research at Geojit Financial Services said, “Global central banks are currently focused on addressing inflation and have reiterated their commitment to reaching their target levels, as evidenced by the hawkish commentary from Powell and the unexpected rate hike by the Bank of England.”
Also, Nair added, “The downward revision of earnings guidance by a major US tech company Accenture has raised concerns about potential earnings downgrades in the Indian IT sector, resulting in pressure on IT stocks.”
However, Nair believes that the domestic market is not expected to experience a significant correction due to favourable domestic economic indicators and a correction in international commodities prices to sustain earnings growth on a QoQ basis.
About 1,174 stocks advanced, while 2,291 stocks declined and 145 stocks remained unchanged. A total of 113 stocks hit new 52-week highs, on the contrary, 27 stocks touched new 52-week lows.
Sensex:
Top gainers: IndusInd Bank (+2.76%), Bharti Airtel (+1.60%), Asian Paints (+1.53%), NTPC (+1.14%), and HCL Tech (-0.40%).
Top losers: Tata Motors (-1.77%), SBI (-1.48%), Power Grid (-1.44%), Tata Steel (-1.35%), and Infosys (-1.32%).
Nifty 50:
Top gainers: IndusInd Bank (+2.88%), Dr. Reddy’s Lab (+1.91%), Asian Paints (+1.51%), Bharti Airtel (+1.01%), and NTPC (+0.92%).
Top losers: Adani Enterprises (-7.02%), Adani Ports (-4.44%), BPCL (-3.45%), Hindalco (-2.93%), and Divi’s Lab (-2.11%).
BSE:
Top gainers: LG Balakrishnan & Bros (+10.83%), Natco Pharma (+7.78%), DCM Shriram (+5.96%), Gillette India (+5.44%), and Aurobindo Pharma (+4.22%).
Top losers: Adani Enterprises (-6.79%), HCC (-5.87%), Bajaj Hindustan Sugar (+5.15%), Piramal Enterprises (-5.07%), and Rajesh Exports (-4.98%).
NSE:
Top gainers: Euro India Fresh Foods, Antony Waste Handling Cell, and 63 Moons Technologies settle at 20% upper circuit each. Wheels India (+17.18%), and Visesh Infotecnics (+12.50%).
Top losers: Mahalaxmi Rubtech and Eros International Media ended at 20% lower circuit each. Excel Realty N Infra (-12.50%), North EA CA Co-RE (-12.50%), and HOV Services (-10.47%).
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Updated: 23 Jun 2023, 04:30 PM IST
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.