Indian share market today: Nifty snaps 3-day losing streak; check top gainers and losers
Share Market Today In India
Indian share markets ended higher to snap a 3-day losing streak on Monday. Buying in financial and FMCG helped Nifty post gain of 0.53%. Investors await the onset of the corporate earnings season for domestic cues. Tata Consultancy Services will report its financial results for the April-June period on Friday. 34 out of Nifty 50 stocks rose for the day. Hindustan Unilever, IndusInd, Britannia, ITC, ICICI Bank, PowerGrid, UPL and Axis Bank — rising around 2-4 percent — were the top gainers.
Top Gainers and Losers in the Indian Stock Market Today
ONGC lost 4%: ONGC extended losses after the government announced levy of export duty on petrol, & diesel. Stock is down 18% in the last 2 days.
Paytm down 2%: Paytm shares fell 2% as growth stocks took a hit due to concerns of rate hikes amid high inflation.
Tata Steel fell 2%: Tata Steel fell 2% after Jefferies warned of more downgrades in the metal sector due to poor earnings visibility.
Zomato slumped 2%: Zomato shares extended decline after the company acquired Blinkit (earlier known as Grofers) for ₹4,447 crore. Shares are down more than 21% in the last one month.
M&M down 2%: M&M closed 2% lower amid volatility in auto stocks post June sales numbers. M&M has reported a 64% on-year growth in domestic sales to 54,096 units.
Tata Motors closed 1% lower: Tata Motors fell 1% after Kotak Securities recommended a 'sell' rating on the stock after it reached important technical levels.
SBI rallied 2%: SBI gained 2% after the state-owned bank announced that its gold loan portfolio has surpassed the Rs 1 lakh cr mark.
Federal Bank up 2%: Federal Bank shares gained 2% after the bank's Q1 retail deposits grew 10% YoY.
Axis Bank gained 2%: Axis Bank rallied 2% after the bank said that it is confident about the recently acquired Citi's card business.
HDFC AMC climbed 2%: HDFC AMC gained 2% amid a bounceback in select financial stocks. Shares have gained 6% in the last one week.
Powergrid up 2%: Powergrid share gained 2% as investors flocked to value stocks amid inflation concerns. Powergrid is the only Nifty stock with a 11% dividend yield.
ICICI Bank jumped 2%: ICICI Bank share price gained after Axis Securities retained a 'Buy' call with a target price of Rs 1,000.
ITC jumps 3%: ITC extended gains from the previous week as analysts noted that the company will see limited impact of inflation, growing consumer business and growth in hotel business.
Dabur rallied 3%: Dabur gained 3% amid gains in defensive FMCG stocks on expectations of good earnings in Q1.
Tata Power closed 3% up: Tata Power rallied 3% after the company announced a plan to invest Rs 3,000 crore to set up a solar cell module manufacturing unit.
Avenue Supermarts ended 3% higher: Dmart share price rallied 3% after the company reported a near two-fold rise in standalone revenue to Rs 9,807 cr in Q1, encouraging analysts to retain a positive view on the stock.
HUL jumped 4%: HUL rallied 3% as investors monitored monsoon progress. Analysts expect continued market share gains and positive earnings momentum to continue in Q1.
IDFC First gained 6%: IDFC First Bank shares jumped after the company reported a 21% on-year growth in deposits to Rs 84,893 cr.
What happened in the Indian stock market today?
Markets ended higher with Nifty up 0.5% at 15,835 mark.
Any stock specific action?
Tata Power up 3% as it plans to invest Rs 3,000 crore in a solar cell unit in Tamil Nadu.
Which sectors gained, and which lost?
Sectoral indices ended mixed, Nifty Bank and FMCG gained while Metal, IT fell.
Which were the top Nifty gainers and losers?
HUL, Britannia, ITC gained while ONGC, TCS, Tata and JSW Steel fell.