Nifty soars 0.9% to end above 15,500; check top gainers and losers
Share Market Today In India
Indian equity benchmark Nifty ended a volatile session higher, amid mixed moves across global markets after Fed Chair Jerome Powell said the US central bank is "strongly committed" to fighting inflation. Nifty closed 0.93% up at 15,556.65.
Gains in financial, IT and auto shares pushed the headline indices higher, though losses in select oil & gas scrips pulled the indices lower. Broader markets also mirrored the gains in the main indices, with the Nifty Midcap 100 and the Nifty Smallcap 100 rising more than one percent each.
Top Gainers and Losers in the Indian Stock Market Today
KPIT Tech jumped 5%: KPIT Tech shares jumped 5% amid rebound in the IT sector following recent plunge due to recession fears.
Ashok Leyland gained 5%: Ashok Leyland shares jumped after ICICI Direct retained a 'Buy' rating on the stock with a target of Rs 140.
M&M zoomed 5%: M&M gained 5% amid a rally in auto stocks as outlook improves for the sector after tariffs on export of metals leading to reduced input prices.
Tata Elxsi jumped 4%: Tata Elxsi resumed rally amid favorable sentiments due to strong demand outlook and expectations of strong margins.
Tata Motors up 4%: Tata Motors gained 4% after reports that the company is mulling to sell cars through its app Tata Neu.
Asian Paints rallied 3%: Asian Paints jumped 3% amid lower crude oil prices. Future price hikes are also on the anvil.
Bharti Airtel gained 3%: Bharti Airtel gained after its Africa subsidiary issued a tender offer to buy back $ 300 mn senior notes.
NMDC up 2%: NMDC gained 2% amid rebound in metal stocks after recent sell off due to inflation fears, recession concerns.
Adani Power gained 2%: Adani Power gained amid a rebound in power stocks after ongoing plunge due to concerns around recession. Stock is down 11% in the last week.
Wipro rose 2%: Wipro recovered from 52-week lows amid a rebound in IT stocks which have been under pressure due to recession fears.
HUL gained 2%: HUL shares extend gains as investors monitored positive news around monsoon and price hikes.
Sun Pharma closed 2% up: Sun Pharma shares jumped after global brokerage firm Jefferies upgraded shares to 'Buy' from 'Underperform.'
Deepak Nitrite up 1%: Deepak Nitrite gained as technical analysts predicted upside on the stock after a recent fall due to a fire incident.
Dabur gained 1%: Dabur shares trended higher amid buying in FMCG stocks as investors monitored positive news around monsoon and price hikes.
Tata Consumer up 1%: Tata Consumer closed higher amid buying in FMCG stocks as investors monitored positive news around monsoon and price hikes.
What happened in markets today?
Markets ended higher with Nifty and Sensex up 0.9% each.
What led to the movement?
Markets rose amid value buying, sliding oil prices and positive global cues.
Which sectors gained and which lost?
All sectoral indices ended in green with Nifty Auto (up 4.4%) leading the markets.
Which were the trending Nifty stocks?
Maruti, Hero MotoCorp, Eicher gained while Reliance, NTPC, Coal India fell.