The market sentiments were on the negative side today. With the rising tension of the Middle East crisis, along with the volatility of the crude prices, American support towards Israel, Iran’s oil embargo call for Israel, the festive season in the country, and corporate results, all these made the market swing today.
In the initial hours of the market session, Nifty dipped below the 19550 level, but it gained back and closed at 19624.70, lower by 0.24% than the previous day’s closing price.
Though the market was falling today, however, seventeen stocks out of Nifty 50’s constituents gained and ended in the green. Out of these, the top gainers today include the following seven.
Top 7 Gainer Stocks Today
| Stocks | Previous Day’s Closing | LTP | Change (%) |
| BAJAJ-AUTO | 5,137.35 | 5,473.75 | 6.55 |
| LTIM | 5,155.20 | 5,463.00 | 5.97 |
| HEROMOTOCO | 3,153.15 | 3,271.00 | 3.74 |
| NESTLEIND | 23,262.95 | 24,080.00 | 3.51 |
| ULTRACEMCO | 8,278.30 | 8,514.65 | 2.86 |
| INDUSINDBK | 1,420.35 | 1,448.05 | 1.95 |
| CIPLA | 1,210.60 | 1,222.00 | 0.94 |
- Bajaj Auto: This auto stock has been gaining throughout the day, and finally closed at 5473.75, which is 6.55% above yesterday’s closing price. The stock was in full upswing today as the company announced its quarterly and half-yearly results yesterday. The profits have gone up the ladders, which surely caught the eyes of the investors.
- LTIMINDTREE Ltd.: This IT stock has made it to the top gainers today withan increase of 5.97% as this company also released its quarterly results yesterday. The revenues have gone up marginally; however, the profits have declined compared to the corresponding quarter of the previous year.
- Hero Moto Corp.: With the announcement of its GIFT Scheme and the festive vibes, the stock has been soaring high for the last many market sessions. Today, it went up by 3.74% from its closing price of the previous day.
- Nestle India: The Navratri has begun, and so has the increase in the sale of FMCG products, Nestle is one of the favourites of Indians, so the stock price rising for this stock is nothing surprising, isn’t it? The stock gained 3.51% during the day. While the festive vibes are in the play, the stock price has also increased as the company announced dividends of Rs. 140 per share for 2023 and positive results for its third quarter of 2023.
- Ultratech Cement: This cement stock gained 2.86% during the day following the release of its investor’s presentation for Q2 of FY24. The company’s domestic sales have increased by 15% on a YoY basis, also the profits increased on a YoY basis.
- IndusInd Bank: This private sector bank stock has increased again due to the results for the second quarter, which it released yesterday. The bank’s net profit has increased by 22% on a YoY basis, which helped the stock gain 1.95% during the day.
- Cipla: The gaining streak of Cipla continued today as well. The stock gained 0.94% during the day following yesterday’s big gains.
Wrapping up
While the broad equity market index dropped today, the top gainer stocks today performed significantly well with big gains which helped the market stabilize a bit. Today, the corporate results play a pivotal role in pushing these stocks upward and overcoming the negative global cues.
*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.