Paytm ends 2% higher; Nifty closes flat; check top movers in the Indian stock market today
Share Market Today In India
Nifty extended losses for the fourth straight day on Thursday amid weak global cues. US inflation soaring to a 40-year dented sentiments. Investors were concerned that the central bank may hike rates more aggressively, thus slowing down the economy. Nifty ended 0.18% down 15,939.
Top Gainers and Losers in the Indian Stock Market Today
Zomato sheds 5% Zomato lost 5% as analysts said that the Blinkit deal will hurt the company's profitability.
NMDC up 4% NMDC shares plunged 4% to hit a 52-week low on weak earnings concerns. The stock is down 7% in three days.
Deepak Nitrite down 2%: Deepak Nitrite shares declined 2% amid caution in specialty chemicals stocks. The company has announced plans to invest Rs 1,500.
KPIT Tech down 2%: KPIT Tech shares declined amid caution in IT stocks given recession fears. Stock is down 6% in the last one week.
Vedanta down 2%: Vedanta share price fell 2% amid a selloff in metal stocks amid recession concerns.
Axis Bank fell 2%: Axis Bank share price fell 2% as investors turned cautions about banking stocks amid slowdown concerns.
HCL Tech shed 2%: HCL Tech share price extended decline after the company reported a muted 2.4% on-year rise in net profit to Rs 3,283 crore, missing street estimates.
Tech Mahindra fell 1%: Tech Mahindra shares extended decline after global brokerage firm Jefferies downgraded the stock to 'Hold' with a target price of Rs 1,070 citing lower margins due to recession. Stock is down 5% in the last one week.
SBI down 1%: SBI fell 1% after a report prepared by National Council of Applied Economic Research (NCAER) suggested the government privatise all state-run banks except SBI.
Adani Wilmar lost 1%: Adani Wilmar fell amid profit booking in Adani group stocks after a recent rally. The stock had gained 10% in the last 5 days on reports of Adani foraying into the telecom space.
BPCL fell 1%: BPCL share price dropped 1% after ICICI Securities said that IOC, BPCL and HPCL may post a combined loss of Rs 10,700 crore in June quarter on selling petrol and diesel at rates below cost.
Wipro slipped 1%: Wipro shares extended losses to hit a fresh 52-week low after global brokerage firm Jefferies downgraded the shares to 'underperform' and slashed the target price to Rs 360 from Rs 545.
Ashok Leyland shed 1%: Ashok Leyland shares fell 1% after HDFC Securities retained a 'Sell' rating on the stock with a target of Rs 102.
Coal India declined 1%: Coal India shares fell 1% after reports that the company's workers' unions sought the coal ministry’s intervention to expedite wage revision.
Adani Power dropped 1%: Adani Power fell amid profit booking in Adani group stocks after a recent rally. The stock had gained 8% in the last 5 days on reports of Adani foraying into the telecom space.
Laurus Labs gained 2%: Laurus Labs extended rally after the company said that it is increasing its capacity by adding five plants, one of which would be commercialized soon and the rest would go on stream with necessary approvals by 2025.
Paytm closed 2% higher: Paytm jumped after Paytm Money announced it has extended the timeline for its direct mutual fund users to update their KYC and open a demat account by 31st October.
What happened in the Indian stock market today?
Markets ended flat with Nifty at 15,939 mark amid volatility.
What led to volatility in the Indian stock market today?
Markets ended flat amid concerns over 41-year high US inflation data and rate hike concerns.
Which sectors were most impacted?
All sectoral indices ended lower except Nifty Pharma and Energy.
Which stocks gained and which fell?
ONGC, Sun Pharma, Kotak Bank gained, while Hero MotoCorp, Axis Bank, HCL fell.