Indian share market today: Nifty jumps to one-month closing high; check top gainers and losers
Share Market Today In India
Nifty jumped to one-month closing highs on Wednesday amid gains across sectors. Foreign investors turning net buyers after a long gap and positive opening in European stock markets boosted sentiments. Heavyweights such as Hindustan Unilever, HDFC Bank, Bajaj Finance and Kotak Mahindra Bank led the Nifty higher. Nifty ended 1.13% higher at 15,990.
Top Gainers and Losers in the Indian Stock Market Today
ONGC fell 5%: ONGC shares plunged 5% after crude oil prices registered their biggest daily drop in price since March, falling 9%.
IOC dropped 1%: IOC shares fell amid a huge drop in crude oil prices. Oil plummeted about 9% on Tuesday in the biggest daily drop since March on growing fears of a global recession and lockdowns in China that could hurt demand.
Zomato fell 2%: Zomato continues to remain under pressure after the company announced the acquisition of loss-making Blinkit for Rs 4,447 cr.
NMDC dropped 2%: NMDC slipped 2% after the mineral producer announced production of 2.57 million tonnes of iron ore in June 2022, declining from 2.98 million tonnes a year back.
Goldbees down 1%: Goldbees fell 1% amid a rally in equities, given its negative correlation with the stock market.
Powergrid down 1%: Powergrid shares declined amid news that the company will consider proposals to raise Rs 6,000 crore today.
Reliance declined 1%: Reliance shares fell 1% after crude oil prices registered their biggest daily drop in price since March, falling 9%.
Tata Motors up 2%: Tata Motors jumped 1% after KR Choksey retained a Buy call on the stock with a target price of Rs 630. Tata Motors registered its highest-ever monthly sales in June 2022 with 45,197 units of passenger vehicles.
Ashok Leyland Ended 1% up: Ashok Leyland extended gains after ICICI Securities retained a Buy rating on the stock with a target price of Rs 182.
Axis Bank closed 1% higher: Axis Bank shares jumped 1% after JM Financial retained a Buy rating on the shares with a target price.
Titan jumped 3%: Titan shares gained 3% after the company said that the mid-term outlook for jewellery division remains positive despite headwinds.
IDFC First Bank gained 2%: IDFC First Bank shares gained after its customer deposits grew to ₹1.21 cr, witnessing a sequential growth of 9.8% over ₹93,214 crore and year-on-year (YoY) growth of 20.6% over ₹84,893 crore.
Asian Paints rose 4%: Asian Paints jumped 4% after crude oil prices registered their biggest daily drop in price since March, falling 9% resulting in expectations of a drop in raw material prices.
SBI Cards up 4%: SBI cards extended rally after the company announced new partnerships. Analysts expect strong earnings in Q1.
HUL up 4%: HUL share price rallied after global crude palm oil prices continued to sink. Crude palm oil futures on international exchanges have nosedived more than 35$ in the past few weeks.
Bajaj Finance soared 5%: Bajaj Finance soared 5% after the company posted a robust business update in Q1. New loans booked in the last quarter were 7.4 mn as compared to 4.6 mn in the first quarter of FY22.
Dmart gained 5%: DMart shares have jumped more than 10% after the company reported a standalone revenue of Rs 9,806.89 crore in Q1 June 2022 (Q1FY23), up 94.90% from Rs 5,031.75 crore reported in the same quarter last year.
What happened in the Indian stock market today?
Markets ended higher with Nifty and Sensex up 1.1% each.
What led the Indian share market to close higher?
Mixed global cues, falling crude oil prices and reduced volatility pushed markets higher.
Which happened to various sectors in the stock market?
All sectoral indices ended in green with Nifty Auto, FMCG and Realty up 2% each.
Any stock specific action?
Bajaj Finance stock jumped 4.8% on impressive Apr-Jun quarter data.