Indian share market today: Nifty fails to hold on to gains; check top gainers and losers
Share Market Today In India
Indian share markets fell today due to the ongoing concerns of global slowdown in economic growth. Nifty had a volatile session and ended the day lower by 0.12% at 15,780.
US stock market along with asian stocks also ended lower after the weak economic growth (GDP) data in the US.
The small cap and mid cap stocks fell sharply compared to the large cap stocks. The market breadth was also negative (higher losers v/s gainers)
Top Gainers and Losers in the Indian Stock Market Today
Zomato down 6%: Zomato extended losses after the Blinkit deal as analysts pointed out that the deal will extend Zomato's path to profitability. Zomato is down 24% in the last 4 days.
Paytm down 5%: Paytm fell amid concerns on profitability in the core payments business and regulatory headwinds in India.
IRCTC down 4%: IRCTC extended losses as analysts noted that gloomy global economic outlook will impact the railway major.
Bank of Baroda down 4%: Bank of Baroda fell 3% amid caution in banking and NBFC stocks due.
Vedanta down 4%: Vedanta shares declined after reports that the company is looking to raise Rs 4,809 cr through bond issuance to LIC.
NALCO fell 2%: Nalco dropped 3% amid a selloff in metal stocks due to fears of slowdown. Cyclical stocks have been the worst hit.
GAIL fell 2%: GAIL closed 3% lower amid lower crude oil prices after a rally in the last few days.
BPCL closed 3% lower: BPCL fell 3% amid lower crude oil prices. Stronger dollar, failed talks between the U.S. and Iran led to cooling of oil prices.
Tata Power dropped 3%: Tata Power fell after global brokerage firm Morgan Stanley retained an 'underperform' rating on the stock with a target price of Rs 175.
Bajaj Finance ended 2% lower: Bajaj Finance closed 2% lower and was among Nifty biggest losers amid volatility due to monthly F&O expiry day.
Tech Mahindra slipped 2%: Tech Mahindra shares continue to remain under pressure amid worries of recession in the IT space.
ONGC dropped 3%: ONGC fell 2% amid a drop in crude oil prices as geopolitical factors weigh.
Tata Consumer dropped 3%: Tata Consumer extended losses amid pressure in FMCG shares due to fears of lower margins amid high inflation.
Adani Wilmar down 2%: Adani Wilmar continues to remain under pressure after the company announced a drop in prices of edible oil. The stock is down 12% in the last one month.
Happiest Minds fell 2%: Happiest Minds continues to trade near 52-week lows after global brokerage firm Morgan Stanley sold its stake in the company last week.
M&M down 2%: M&M fell 2% amid profit booking in the stock following a recent rally due to new launches and positive analyst calls.
SBI jumped 1%: SBI rallied 1% after the company acquired 9.54% stake in Perfios Account Aggregation Services.
Axis Bank rose 1%: Axis Bank jumped after BNP Paribas retained a Buy call on the stock with a target price of Rs 970.
What happened in the Indian markets today?
Markets ended flat amid volatility with Nifty at 15,780 mark.
What weighed on the Indian markets?
Global recession fears spooked investor sentiments.
What happened in various sectors?
All sectoral indices ended in red except Nifty Bank and Energy. Nifty Metal down 2%.
Which were the top Nifty gainers and losers?
Axis Bank, SBI and Divi's Lab gained while Cipla, Eicher Motors, BPCL fell.