Indian share market today: Nifty falls 215 points from day’s high to end near 15,800: check top gainers and losers
Share Market Today In India
Nifty failed to hold on to gains amid a sharp reversal in financial stocks. After starting the day higher on the back of positive global cues, the index dropped more than 1.2% from the day’s high to end at 15,810.85. Intra-day, the index had breached the 16,000-mark. Uncertainty in global markets and caution ahead of the earnings season led to the sharp reversal on Tuesday afternoon. Infosys, TCS, L&T, and HDFC dragged Nifty while Reliance & HUL lent support.
Top Gainers and Losers in the Indian Stock Market Today
Avenue Supermarts ended 4% higher: Dmart share price extended gains after the company reported a near two-fold rise in standalone revenue to Rs 9,807 cr in Q1.Analysts have retained a positive view on the stock.
SBI Cards up 4%: SBI Cards jumped 4% after it announced a partnership with Aditya Birla Finance to launch a new card.
Paytm up 2%: Paytm gained 2% as technical analysts noted that the stock is in for a bounceback after it broke key levels.
Powergrid up 1%: Powergrid share gained 1% as investors look for value stocks amid inflation concerns. Powergrid is the only Nifty stock with a 11% dividend yield.
Zomato jumped 2%: Zomato ended 2% up amid value buying after the stock fell 22% in the last month following news of the Blinkit deal.
ONGC gained 1%: ONGC shares witnessed a bounceback after plunging 14% in the last 2 sessions after the government's move to import export tax on petroleum products. JP Morgan has downgraded the stock to 'Neutral' from 'Buy' earlier, noting that this windfall tax will hurt the firm.
HUL jumped 1%: HUL extended gains as investors monitored monsoon progress. Analysts expect continued market share gains and positive earnings momentum to continue in Q1.
Dabur climbed 1%: Dabur closed 1% up amid gains in defensive FMCG stocks on expectations of good earnings in Q1.
Tata Power closed 1% up: Tata Power extended gains after the company announced a plan to invest Rs 3,000 crore to set up a solar cell module manufacturing unit.
Asian Paints dropped 1%: Asian Paints shares continue to remain under pressure as volatile crude oil prices, and Grasim's likely entry into paints sectors keep investors cautious.
IRCTC closed 1% lower: IRCTC fell 1% after analysts cautioned that operating expenses will see a rise due to inflationary concerns and can bring down the margins causing an earnings downgrade.
HDFC fell 1%: HDFC dropped 1% after it received RBI's approval for an impending merger with HDFC Bank.
M&M down 1%: M&M extended losses 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.
Wipro down 1%: Wipro fell 1% after analysts noted that the IT firm's profit may fall by 5% in Q1 amid slowdown in the sector.
IOC down 1%: IOC fell 1% amid fears of a reduction in marketing margins in Q1 due to volatile crude oil prices.
ITC down 2%: ITC fell from 52-week high levels amid profit selling in the stock. The stock has soared 31% in 2022 spo far as analysts noted that the company will see limited impact of inflation, growing consumer business and growth in hotel business.
IDFC First down 2%: IDFC First Bank shares fell on profit booking after a 6% jump yesterday. The bank has reported a 21% on-year growth in deposits to Rs 84,893 cr.
What happened in the Indian share market today?
Market erased all gains to end flat with Nifty at 15,811 mark.
What happened to the Indian rupee?
Indian rupee ended at fresh record low at 79.37 per dollar.
Which sectors gained and which lost in the Indian market today?
All sectoral indices ended in red except Nifty Metal and Energy.
Which were the top Nifty gainers and losers?
Shree Cement, Power Grid, HUL gained while HDFC Life, Wipro, Maruti, ITC fell.