The state election results continued to help the domestic stock market gain today as well. Nifty 50, the broad market index hit a new high today by gaining 0.81%. The index closed at 20855.10, 168.30 points up from its previous close at 20686.80.
While the domestic factors pushed the market upward, however, the fall of IT stocks globally, with the rise of treasury yields again in the West, made a significant impact on the domestic IT sector too, which in turn restricted the overall market today,
Out of 50 stocks in the equity index Nifty 50, 32 advanced today during the market session while the remaining 18 ended in the red. Let’s have a look at the top nifty gainers and losers today to have a better understanding of the market.
Top 5 Gainer Stocks Today
| Stocks | Previous Day’s Closing Price | LTP | Change (%) |
| ADANIENT | 2,531.20 | 2,971.00 | 17.38 |
| ADANIPORTS | 878.65 | 1,010.00 | 14.95 |
| POWERGRID | 212.9 | 223.05 | 4.77 |
| NTPC | 274.8 | 286.3 | 4.18 |
| SBIN | 594.7 | 608.25 | 2.28 |
- Adani Enterprise: As the US agency DFC said the Hindenburg Report was irrelevant, Adani Enterprise stock jumped 17.38% during today’s session. The stock price went up from 2531.20 in yesterday’s session to 2971 today. With such a huge spike in price, this stock became the top nifty gainer stock for the day.
- Adani Ports and Special Economic Zone: The same reason for the rise of this Adani stock too. This stock zoomed 14.95% today and ended at 1010 up from its previous day’s closing price of 878.65.
- Power Grid Corporation: The election results boosted the energy sector significantly and this power stock gained 4.77% during today’s session. In addition, the company announced a change in its management in the last week, which also affected the share price to some extent.
- NTPC: All these government undertakings are soaring high with the win of BJP in the state elections. This power stock surged 4.18% today and closed at 286.30 up from its previous day’s close at 274.80.
- SBIN: Thefinancial sector continued going up today for the second day in a row, and so is the State Bank of India. The stock gained 2.28% during today’s session to become the fifth top nifty gainer today.
Top 5 Loser Stocks Today
| Stocks | Previous Day’s Closing Price | LTP | Change (%) |
| LTIM | 5,577.40 | 5,492.05 | -1.53 |
| HINDUNILVR | 2,602.30 | 2,563.00 | -1.51 |
| DIVISLAB | 3,798.10 | 3,743.60 | -1.43 |
| HCLTECH | 1,337.95 | 1,319.70 | -1.36 |
| BAJAJ-AUTO | 6,201.70 | 6,139.20 | -1.01 |
- LTIM: As the IT sector became sluggish in the West, the effect can be felt in the domestic IT sector as well. LTIM fell by 1.53% and closed at 5492.05 while yesterday it closed at 5577.40.
- Hindustan Unilever: This FMCG stock also tanked 1.51% during the day as the FMCG sector as a whole fell today. The stock closed at 2563, down from its previous day’s close at 2602.30, making it straight to the top nifty losers.
- Divi’s Lab: This pharma stock lost 1.43% following a sluggish pharma sector performance during today’s session. The stock closed at 3798.10 yesterday, while today it closed at 3743.60.
- HCL Technologies: IT sector stock HCL tech dropped by 1.36% today as the overall sector witnessed selling pressure in the global. As the treasury yields rose in the US, investors again started flying to buy bonds and sell equities.
- Bajaj Auto: This auto stock dipped 1.01% today following a sluggish auto sector performance and due to its drop in monthly exports for November.
Wrapping up
The domestic market thus primarily gained from the rise in the financial services sector today while the IT sector pulled it down to some extent. However, the overall sentiment during today’s market session was positive
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