Indian domestic market today was under the influence of FIIs withdrawing their investments. The selling pressure was high across the sectors. During today’s market session, the Nifty 50 fell below the 19700 mark; however, at the end of the session, it managed to rise and finally closed at 19751.05.
23 stocks of this broad market index advanced today, while the remaining 27 fell from its previous closing price. The index itself fell by 0.22% at the end of the day. The top gainer stocks today include some of the auto stocks, which are gaining in this volatile market condition due to upcoming festivals primarily. Apart from auto stocks, there are other stocks as well which have gained significantly today.
Top 7 Gainer Stocks Today
|Previous Day’s Closing Price
- Tata Motors: This automobile stock has gained the highest today. It increased by 4.73% during the day as the market showed mixed sentiments later the day. The stock closed at 667.10 today, gaining 30.15 from the previous day’s close. Overall, festive vibes, along with the mixed market sentiments, have worked for Tata Motors today. While the stock became the top gainer today, it increased for two weeks as it came up with its positive Q2 results last week. The global wholesales of Jaguar Land Rover increased by 7% YoY.
- HCL Tech: The next top gainer stock today is HCL Tech, with an uptick of 2.72% during the market session. The price rise was inevitable as the company reported its quarterly results yesterday. The profits surged for the quarter and the half of FY24.
- IndusInd Bank: This private sector bank surged by 2.44% during the day’s session. It gained 34.80 and rose to 1459.05 at the end of the day. The bank’s quarterly and half-yearly results will be released on the 18th of this month, as announced by the company two days back, which made the stock price rise.
- Tata Consumer Products Ltd: Another Tata Group stock as a top gainer stock today. This FMCG stock surged 2.15% during the day and closed at 911.50 from the previous day’s close of 892.35. This stock price also started picking up today after the announcement of its financial results to be released on 1 November 2023.
- Nestle India: Another FMCG stock to pull the market today. Nestle has gained 2.06%, primarily due to an overall increase in sales of the FMCG sector due to the upcoming festivals. However, the announcement of a change in management can also help the price to rise.
- Maruti: This stock has again gained 1.48% to become the part of the top gainers today. It has already been two weeks that the stock has been gaining primarily owing to the festival-linked sales, initiation of exports of 5-door Jimny, and due to announcement of considering raising funds.
- Sun Pharma: This pharmaceutical stock rose around 1.19% today. While the price increase can be primarily due to positive sentiment around the pharma stocks today, the company has also made progress in its new findings – CEQUA.
Negative global cues, FIIs dumping their investments, the Israel-Hamas war, and crude price hikes all are against domestic market growth. However, India is a land of festivals, and the biggest festivals are around the corner, which are holding the investors together. It is quite transparent, that the 2nd week of October has been dragged by the global cues but the domestic festive-led enthusiasm didn’t let the market fall over its face.
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I’m Archana R. Chettiar, an experienced content creator with
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