After two days of the market rallying upward, today, there has been a drop in the stock prices due to both domestic and global cues. RBI’s consumer lending guidelines and negative global cues have made the market sluggish.
The broad equity market index, Nifty 50, has closed below the 19750 level, dipping by 0.17%. Of 50 stocks, 28 of this index have been nifty gainers, while 22 stocks fell and ended up in the nifty losers list. [Source: NSE]
As the central bank tightened the consumer lending guidelines, the banking and financial services sectors plunged massively, taking the whole market down.
Let’s find out the top nifty gainers and losers of the Day.
Top 5 NIFTY Gainer Stocks Today
| Stocks | Previous Day’s closing price | LTP | Change (%) |
| SBILIFE | 1,359.95 | 1,413.70 | 3.95 |
| APOLLOHOSP | 5,338.75 | 5,485.00 | 2.74 |
| HDFCLIFE | 634.95 | 652.3 | 2.73 |
| LT | 3,051.15 | 3,106.25 | 1.81 |
| TATACONSUM | 920.05 | 934 | 1.52 |
- SBI Life Insurance: Though the financial services sector has plummeted today, the top nifty gainer is a financial service stock. SBI Life has gained 3.95% today following its investors’ meeting on Wednesday and yesterday.
- Apollo Hospital: This healthcare stock has gone up by 2.74% and closed at 5485 today following the release of its quarterly and half-yearly results. The revenue and PAT of the company have gone up by 14% on a YoY basis for the quarter ended on 30 September 2023.
- HDFC Life: Another insurance company to be on the nifty gainers today. The stock rose 2.73% today and closed at 652.30, while the overall financial sector has plunged today.
- LT: This construction company has made progress of 1.81% today after the rise of the realty sector. The company also announced its investors’ meeting schedule today. It will start from 22 November.
- Tata Consumer: This FMCG stock increased by 1.52% and closed at 934 following the announcement of its investors’ meeting, which is scheduled for 22 November.
Top 5 NIFTY Loser Stocks Today
| Stocks | Previous Day’s closing price | LTP | Change (%) |
| SBIN | 584.65 | 562.9 | -3.72 |
| AXISBANK | 1,026.35 | 992.65 | -3.28 |
| ONGC | 201.8 | 196.8 | -2.48 |
| BPCL | 398.65 | 390.4 | -2.07 |
| BAJFINANCE | 7,362.45 | 7,221.75 | -1.91 |
- SBIN: While one SBI Group company has been the top gainer, another is the top Nifty loser today. SBIN has tanked by 3.72% during today’s market session following RBI’s new rules and guidelines for consumer lending.
- Axis Bank: After the PSU banks, now it’s a private bank making it to the nifty losers list with a dip of 3.28%, a consequence of RBI’s decision.
- ONGC: The crude prices have been affected by the upcoming COP28, which has given a blow to the oil & gas companies. ONGC has tanked by 2.48%, closing at 196.80 per share.
- BPCL: Another oil & gas company on the list of top nifty losers for the same reason as ONGC. This stock has tanked by 2.07% and closed at 390.40.
- Bajaj Finance: This financial service company had a big blow today as RBI banned its two main lending products, eCom and Insta Lending Card, as it changed the digital lending guidelines. The stock plunged 1.91% during today’s market session and closed at 7221.75.
Wrapping up
Today, the domestic market is totally under the influence of RBI’s take on consumer lending, digital lending, and crude oil movement on the global front. However, the overall market was sluggish but didn’t fall drastically.
*Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as recommendation or investment advice by Research & Ranking. We will not be liable for any losses that may occur. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL, and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.
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.