Indian share market today: Nifty halts 4-day winning run; check top gainers and losers
Share Market Today In India
Nifty50 halted a four-day winning run in a choppy session on Wednesday, dragged by losses in financial and IT shares. Nifty ended 0.32% lower at 15,799.10. Poor consumer confidence data from the US dampened investor sentiments. Investors globally awaited a key GDP reading from the US due later in the day for cues.
Top Gainers and Losers in the Indian Stock Market Today
Zomato down 5%: Zomato extended losses after the Blinkit deal as analysts pointed out that the deal will extend Zomato's path to profitability. Zomato is down 20% in the last 3 days.
HDFC Life down 5%: HDFC Life fell after its annual report showed that the life insurance sector had paid Rs 60,000 cr in April-Sep 21 period, twice that of the previous year due to Covid related deaths.
HUL shares tumbled 4%: HUL lost 4% after the company's CEO noted that the situation will continue to remain challenging due to geopolitical disruptions and commodity price inflation.
IRCTC down 4%: IRCTC fell as analysts noted that gloomy global economic outlook will impact the railway giant.
Axis Bank fell 3%: Axis Bank fell 3% amid a selloff in banking stocks on the back of weak global cues.
Happiest Minds fell 3%: Happiest Minds continues to trade near 52-week lows after global brokerage firm Morgan Stanley sold its stake in the company last week.
Tata Consumer dropped 3%: Tata Consumer fell 3% amid pressure in FMCG shares due to fears of lower margins amid high inflation.
Dabur fell 2%: Dabur shares fell 2% as investors turn cautious due to recession fears ahead of the release of US GDP data later in the day.
Wipro down 2%: Wipro continues to trade near 52-week lows as investors remain cautious about the IT sector due to fears of recession.
NALCO fell 2%: Nalco dropped 2% amid profit booking after a 6% rally in the last week due to easing of Covid curbs in China.
Kotak down 2%: Kotak Mahindra Bank lost 2% amid a selloff in financial shares. The stock is down 14% in the last one month.
HCL Tech closed 1% up: HCL Tech declined 2% as investors continue to remain cautious about stocks in the IT sector due to fears of a recession.
NMDC fell 2%: NMDC fell 2% after the company said that the shareholders and creditors have approved the demerger of the company's under-construction Nagarnar Steel Plant (NSP).
Asian Paints down 1%: Asian Paints fell as analysts raised concerns over raw material inflation.
Ashok Leyland up 1%: Ashok Leyland extended gains after Religare Broking retained a Buy rating on the stock citing favourable technical factors for the stock.
Coal India up 1%: Coal India extended rally after ICICI Direct maintained a buy call. Going forward, the brokerage expects Coal India to report an offtake of 675 Million tonnes (MT) in FY23E and 700 MT in FY24E.
GAIL gained 2%: GAIL closed 2% higher amid a rally in crude oil prices on the back of supply constraints due to political unrest in Libya and Ecuador.
Reliance up 2%: Reliance Industries jumped 2% after Mukesh Ambani set the succession plan in motion by stepping down from Chairman position of Reliance Jio and promoting son Akash Ambani.
ONGC gained 3%: ONGC jumped 3% amid a rally in crude oil prices on the back of supply constraints due to political unrest in Libya and Ecuador.
What happened in the Indian stock market today?
Markets ended slightly lower with Nifty and Sensex down 0.3%.
What led to the fall in the Indian market today?
Negative global cues and rising crude oil prices impacted investor sentiments.
What happened in sectors?
All sectoral indices ended flat to negative except Nifty Energy.
Which were the top Nifty gainers and losers?
ONGC, NTPC, Reliance gained while HDFC Life, HUL, Apollo Hospitals fell.