Today’s domestic stock market rose rapidly, with every sector pouring gains, and over 45 stocks of Nifty 50 ended the day in the green. The positive sentiments in the domestic market were due to the soft US inflation rate data and the calming down of treasury yields in the US.
Avinash Gorakshkar, Head of Research at Profitmart Securities, said, “The Indian stock market has risen after taking a pause on Monday. We can attribute five major reasons that have fueled the Indian stock market today — soft US inflation data, the US dollar index hitting a 10-week low, and dip in US treasury yield are major global triggers for the Indian stock market and I am expecting a fresh bull market after consolidation in last few months on FIIs’ selling. But, for that fresh bull trend, FIIs need to turn bullish on the Indian stock market.” [Source: Livemint]
Nifty rallied 1.19% during the day, one of the highest rises in a single day in the past two weeks. Today, the broad market index surpassed 19675.45, compared to around 19443 on Monday.
Today, 45 constituent stocks of Nifty 50 ended in the green while only 5 couldn’t make it and fell. Let’s have a look at the top Nifty gainers and losers today.
Top 5 NIFTY Gainer Stocks Today
| Stocks | Previous Day’s Closing Price | LTP | Change (%) |
| EICHERMOT | 3,645.40 | 3,840.00 | 5.34 |
| TECHM | 1,131.35 | 1,174.00 | 3.77 |
| HINDALCO | 487.5 | 505.65 | 3.72 |
| INFY | 1,373.55 | 1,412.00 | 2.8 |
| TATAMOTORS | 653.25 | 671.5 | 2.79 |
| WIPRO | 381.65 | 391.45 | 2.57 |
| TATASTEEL | 121 | 124.1 | 2.56 |
- Eicher Motor: This auto stock has been gaining almost every session since the beginning of this month. Today, the stock rose by 5.34% and closed at 3840 to become the top nifty gainer. This rise results from the overall market upswing today, especially when the auto sector is one of today’s top-gaining sectors. In addition, the quarterly results also pushed the stock to go up for the past few sessions.
- Tech Mahindra: The IT sector gained massively, which can be felt across the IT stocks, and Tech Mahindra has been the top nifty gainer in this sector and overall the second gainer today. The stock has inclined by 3.77% during today’s session and closed at 1174, up from its previous day’s close at 1131.35.
- Hindalco: This metal stock also gained for the past few sessions consecutively following the release of its quarterly results. Today, the stock progressed 3.72% and closed at 505.65 compared to 487.50 during the previous market session. Again, the surge is overall market sentiment, which was highly positive today.
- Infosys: Another IT stock in the nifty gainers list surged by 2.80% during the day following the announcement of the Investors conference in the coming week and the upswing in the IT sector today. The stock was at 1373.55 on Monday at closing, which went up to 1412 today as the market closed.
- Tata Motors: With the credit rating data release for the company and the upcoming IPO of Tata Technologies, Tata Motors’ stock price is in full swing. It went up by 2.79% during the day and closed at 671.50, up from its previous close at 653.25. The credit rating for Tata Motors has improved in this credit rating report, which is another factor inflicting investors’ sentiments.
- Wipro: Another IT stock in the list of top nifty gainers went up by 2.57% and closed at 391.45, up from its previous closing price of 381.65. This is again influenced by the positive sentiment in the market and the IT sector itself going significantly up today.
- Tata Steel: Tata Group stock gained 2.56% and closed at 124.10, which earlier was at 121. The company stock price rose significantly due to the positive market sentiment, the upcoming Tata Group IPO, and the change in management. Mr. Ashish Anupam has been appointed Vice President of the Long Products segment.
Top 5 NIFTY Loser Stocks Today
| Stocks | Previous Day’s Closing Price | LTP | Change (%) |
| BAJFINANCE | 7,360.85 | 7,216.95 | -1.95 |
| POWERGRID | 212.3 | 210 | -1.08 |
| INDUSINDBK | 1,509.60 | 1,495.00 | -0.97 |
- Bajaj Finance: While the financial service sector has increased significantly today, this sector’s stock has lost 1.95% and dipped to 7216.95 today at the end of the session from the previous closing at 7360.85. This might result from the festive season’s ending, as Bajaj Finance mainly caters to retail financing needs.
- Power Grid: The next nifty loser is this power company, which declined by 1.08% and closed at 210. This can also be a result of the festival ending.
- IndusInd Bank: This is another financial service company to go down today by 0.95% and close at 1495, which is also a result of normal market movement.
Wrapping up
Today, on the auspicious day of Bhai Dooj, the stock market made most investors happy with gains from all the sectors. Today’s top Nifty gainers and losers made significant movements and kept the market active throughout the day.
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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.