The Indian stock market exhibited mixed sentiments at mid-day on October 13, with the Sensex and the Nifty experiencing a downward trend, particularly influenced by losses in the information technology and banking sectors. Here’s a comprehensive overview of the top gainers and losers during this trading session.
Market Snapshot
Sensex: Down by 282.91 points or 0.43% at 66,125.48
Nifty: Down by 83.40 points or 0.42% at 19,710.60
Market Statistics: 1,586 shares advanced, 1,479 declined, and 116 remained unchanged
Top Gainers
Tata Consumer Products Ltd
The stock surged over 2 percent to Rs 911, witnessing high volumes of 27 lakh shares, exceeding the one-week average of 10 lakh shares.
IndusInd Bank Ltd
The private lender experienced a 2 percent upswing, reaching Rs 1,451, although volumes were slightly lower compared to the one-week average.
Nestle
Shares of the renowned food conglomerate observed a 1.3 percent rise, reaching Rs 23,377, although trading volumes were slightly lower than the one-week average.
HCL Tech
The IT player demonstrated a notable 1.7 percent increase, reaching Rs 1,245, with investors displaying confidence in the company’s performance despite revised growth guidance for FY24.
Top Losers
The country’s largest state lender faced a nearly 2 percent decline, dropping to Rs 576, following a “sell” downgrade by UBS, citing potential regulatory tightening and increased credit losses in the banking industry.
Wipro Ltd
Shares of the IT firm recorded a 2 percent fall, settling at Rs 410, reflecting negative market sentiment, driven by sector-wide guidance cuts, hinting at potential challenges in the upcoming fiscal year.
Infosys Ltd
The stock witnessed a 3 percent decline, reaching Rs 1,424, consequent to the company revising down its revenue growth guidance for the financial year 2024, leading to cautious investor sentiment.
Adani Enterprises Ltd
The Adani group flagship stock faced a downturn of nearly 3 percent, reaching Rs 2,434, with trading volumes marginally lower ahead of a Supreme Court hearing.
Axis Bank Ltd
The stock slumped by 2.3 percent, settling at Rs 995, following a downgrade from “buy” to “neutral” by UBS, highlighting the bank’s sensitivity to credit cost changes relative to its peers.
Cipla Ltd
Despite a slight bounce back of 0.41 percent to Rs 1,162, the pharma major had experienced a previous decline, with the recent inspection report by the US Food and Drug Administration (US FDA) adding to market uncertainties.
Amidst these fluctuations, market participants continue to monitor developments closely, keeping a keen eye on these key performers and the potential impacts of market dynamics on their future trajectories.
