Continuing the gaining streak that started at the end of last week, today, the stock market ended in the green. The equity broad market index, Nifty 50, gained around 0.94% during today’s market session. Today, 45 index stocks ended in the green, while five ended in the red.
“After a gap-up opening (on Friday), Nifty 50 faced resistance around 19,250-19,300 levels and we can see maximum put writing at 19,200 levels which may act as strong support for Nifty 50 while we can see maximum open interest in the 19,300 call option so, one should only be bullish on Nifty 50 if it closes above its crucial 100 days moving average placed at 19,300,” said Kunal Shah, Senior Technical & Derivative Analyst.
Nifty 50 not only went above 19300 level today but also surpassed 19400, closing at 19411 points, while it closed at 19230.60 in the previous session.
Since most of the stocks of Nifty 50 are in the green today, let’s talk about eight nifty gainers and three nifty losers in the nifty gainers and losers today article.
NSE Top 8 Gainer Stocks Today
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- Divi’s Laboratories Ltd.: This pharma company announced its quarterly results today during its board meeting; after that, the stock price surged around 5.12%. The company reported increased revenue for the quarter ended on 30 September 2023. However, its profit decreased compared to the previous quarter and the corresponding quarter in the last financial year.
- Eicher Motor: Another day of gains for this automobile giant. The stock has been gaining since three market sessions, and today it gained 2.62%, closing at 3517.85, up from its previous close of 3428. The price rise has been a result of its positive monthly business update and change in its management, which was announced on Friday.
- Hero Moto Corp: This auto stock is rising after its Q2 results announcement on 2 November 2023. Today, at the end of the day, this is the third nifty gainer with a gain of 2.61%. While Q2 results are one of the crucial factors for the favorable price movement for this auto stock, the festive demands are also pushing the price higher, as Hero Moto Corp.’s vehicles are one of the most purchased items during these festive.
- Axis Bank: This private sector bank has become a nifty gainer today with a price rise of 2.14%. The stock closed at 1010.05, up from its previous close of 988.85 following the positive market sentiments.
- LT: With a gain of 2.08%, LT is the fifth nifty gainer stock today. The infrastructure giant’s stock price surged today as it booked a contract to build Bhogapuram International Airport.
- Tata Steel: This steel giant has been in the news for its scheme of amalgamation between Tata Steel Limited and Tata Steel Long Products Limited since last week. The price of the stock went up by 1.96% today, which is an effect of the merger as well as increasing demand in the market, both due to festivals and the realty boom.
- Bajaj Finance: This financial service stock has gained 1.94% and closed at 7555 from its previous close of 7411.50 following the market trend.
- Power Grid: This energy and power stock gained 1.76% the day after it announced the release of its Q2 results. The company will come up with the results on 9 November 2023. The price is also rising as the festival of lights has arrived, which is increasing demand.
NSE Top 3 Loser Stocks Today
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- SBIN: The State Bank of India has been the top nifty loser of the day, with a loss of 0.73%. The stock fell today despite its positive quarterly results, published today.
- Hindustan Unilever: The share has dipped by 0.52% today, even in a festive-led market, which indicates investors’ assumption about its upcoming results at the end of this week.
- Cipla: A Pharma company in the list of nifty losers as well. This stock has lost 0.26% during the day, and this is the second market session in a row that the stock dipped in price.
With the positive global market cues, the domestic market was also on a joy rise, with most of the sectors in the green, except PSU bank and consumer durables sectors. As the Middle East conflict cooling down, along with the Fed maintaining its interest rate intact, the markets have tuned in to the festive demands.
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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
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