Nifty extends losses ahead of Fed Meet: Check biggest stock movers today
Market Action Today
The Indian market extended losses for the fourth consecutive day, as investors remained cautious ahead of Fed policy action. Analysts expect the US Fed to increase rates by up to 0.75% to tackle 40-year high inflation. Oil & gas, IT shares were the worst hit though gains in financial and auto stocks limited the downside. The Nifty ended 0.25% lower to 15,692.15. Check out the biggest stock movers today.
Stocks In Action
Tata Chemicals Lost 4%: Tata Chemicals fell as it turned ex-dividend today. The company had announced a dividend of Rs 12.5 per share.
Tata Steel Down 4%: Tata Steel declined after it turned ex-dividend today. The company had announced a dividend of Rs 51 per share.
ONGC Fell 3%: ONGC declined amid a decline in oil prices ahead of the Fed meeting scheduled today.
Tata Elxsi Down 3%: Tata Elxsi witnessed a decline as the shares turned ex-dividend today. The company had announced a dividend of Rs 42.5 per share.
NTPC Declined 2%: NTPC fell 2%, emerging as the worst Sensex loser amid a selloff in energy stocks.
CPSE ETF Down 2%: CPSE ETF ended lower amid a fall in underlying PSU stocks NTPC, Powergrid, ONGC, and Coal India.
IOC Fell 1%: IOC fell 1% amid pressure in OMC shares due to concerns about lower marketing margins going forward.
HUL Fell 1%: HUL shares remain under pressure due to concerns about lower margins amid high inflation.
Wipro Down 1%: Wipro shares fell after technical analysts said that there is more downside for the stock after it broke key levels.
Stock Up 0.4%: Ashok Leyland ended marginally higher after its global EV arm launched a new e-bus platform.
Asian Paints Up 1%: Asian Paints recovered from 52-week lows on value-buying after falling 13% in the last month.
Paytm Jumped 1%: Paytm ended higher after the company reported a 471% rise in May loan disbursements.
HDFC Life Up 1%: Stock jumped after technical analysts noted that the stock has broken key levels, and may see more upside.
Bajaj Finance Gains 2%: Bajaj Finance recovered from 52-week lows after falling over 20% in the last 6 months.
Deepak Nitrite Rose 2%: Stock recouped losses after a fire incident in the Gujarat factory wiped off 15% in the last 10 sessions.
Adani Wilmar Jumped 2%: Adani Wilmar jumped after analysts noted that entry into multiple verticals under the Fortune brand is a key positive.
KPIT Tech Rallied 2%: KPIT Tech gained amid value buying after a 10% fall in the last 5 sessions.
Tata Motors Ended 2% Higher: Tata Motors jumped after Chairman N Chandrasekaran said that the company would turn zero net debt by 2024.
Adani Power Gained 2%: Adani Power extended gains amid positive sentiments in Adani Group stocks due to news of a $50 billion Green Energy Investment Plan.