Today, the domestic stock market has succumbed to selling pressure, as investors are booking profits before the start of Q3 results. On the other hand, geopolitical issues, conflict in the Middle East, the Red Sea conflict, and highly volatile oil prices have affected the market since this year.
Today, the Nifty 50 fell 0.69%, down from its previous closing at 21665.80. Today, the broad market index fell to 21517.35, almost breaching its 21500 level. IT and the metal sector massively dragged the market today, giving most of the top nifty losers of the day, while PSU bank and the realty sector tried to make up the losses and ended in the green with some significant profits. However, most sectors like auto, banking, and financial services were flat today and ended in the green.
Here are the top nifty gainers and losers of the day.
Top 5 Gainer Stocks Today
| Stocks | Previous day’s Closing Price | LTP | Change (%) |
| BAJAJ-AUTO | 6,665.05 | 6,968.00 | 4.55 |
| ADANIENT | 2,932.40 | 3,005.00 | 2.48 |
| ADANIPORTS | 1,078.40 | 1,095.40 | 1.58 |
| CIPLA | 1,281.55 | 1,301.55 | 1.56 |
| ITC | 470.35 | 477.45 | 1.51 |
- Bajaj Auto: Though the Auto sector was flat today, this auto stock gained 4.55% and closed for 6968, up from yesterday’s closing price of 6665.05. Today, the company also intimated to the stock exchange about its upcoming board meeting on 8 January, where it can consider buying back shares.
- Adani Enterprise: The Adani stocks are back in the game, rising slowly but steadily. Today, the stock gained 2.48% and closed at 3005; the previous day, it closed at 2932.40.
- Adani Ports: As the oil market is volatile, the post businesses are bound to surge; this stock gained 1.58% and closed at 1095.40 to become the third top nifty gainer today.
- Cipla: The pharma stock rose 1.56% and closed at 1301.55, up from its previous close at 1281.55. The probable reason behind the rise is the rise in COVID-19 cases nationwide.
- ITC: This FMCG stock rose 1.51% even in today’s sluggish market following the change in its management. The stock closed at 477.45 at the end of today’s session, while it closed at 470.35 yesterday.
Top 5 Nifty Loser Stocks Today
| Stocks | Previous day’s Closing Price | LTP | Change (%) |
| HINDALCO | 617 | 593.45 | -3.82 |
| JSWSTEEL | 870.2 | 837.4 | -3.77 |
| TATASTEEL | 139.6 | 135 | -3.3 |
| LTIM | 6,144.00 | 5,957.95 | -3.03 |
| TECHM | 1,278.10 | 1,241.00 | -2.9 |
- Hindalco: As the metal sector tanked today, this metal and mining company dropped by 3.82%. The stock closed at 593.45, while it was at 617 at market close yesterday.
- JSW Steel: This steel manufacturer lost 3.77% during today’s market session due to the drop in metal businesses. The stock today went up to 870 then closed at 837.40 to become the second nifty loser, while yesterday, it closed at 870.20.
- Tata Steel: The steel giant Tata Steel also could not hold on and fell 3.30% during today’s market session. The stock closed at a price of 135 today, while yesterday, it closed at 139.60.
- LTIM: As geopolitical conflicts are on the rise, the IT sector is highly affected, and thus, the fourth nifty loser is an IT stock – LTIM. This stock lost 3.03% today and closed at a price of 5957.95.
- Tech Mahindra: The fifth nifty loser of the day is this IT stock, which lost 2.90% and closed at 1241, down from its previous close at 1278.10.
Wrapping up
The sluggish market is a result of multiple reasons and not just one. While the investors’ selling pressure is real, the escalating Middle East and other geopolitical issues are also affecting the market.
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I’m Archana R. Chettiar, an experienced content creator with
an affinity for writing on personal finance and other financial content. I
love to write on equity investing, retirement, managing money, and more.