Infosys, Reliance, JSW Steel among top gainers, losers today; check full list
Domestic benchmark indices Sensex and Nifty ended flat on Monday, August 14 as investors await India’s consumer price inflation (CPI) – retail inflation data for July which is expected to see an uptick because of the recent rise in vegetables, pulses and cereals prices. High inflation numbers may weigh on market sentiment as both indices are already about two per cent down in August so far.
India’s wholesale inflation persisted in negative territory, albeit moderating to -1.36 per cent, as the decline in fuel prices was counterbalanced by higher food costs. Mixed global cues also failed to aid the cautious mood. Rising US dollar and treasury yields drove investors away from the riskier equities.
Sensex closed with a mild gain of 79 points, or 0.12 per cent, at 65,401.92 while the Nifty50 closed 6 points, or 0.03 per cent, up at 19,434.55. Mid and smallcaps suffered more as the BSE Midcap index declined 0.44 per cent while the smallcap index fell 0.50 per cent. A mixed trend was witnessed on the sectoral front wherein IT, FMCG and media edged higher while metal, realty and financials ended in the red.
Commenting on today’s market performance, Vinod Nair, Head of Research at Geojit Financial Services said, ‘’Following weak performances in Asian markets, the domestic indices commenced the day with a negative bias, prompted by discouraging domestic industrial data along with concerns over demand from China.”
‘’However, the indices managed to recover from their initial losses, ending the day on a relatively neutral note. India’s CPI inflation, due to be released today, is anticipated to exceed the RBI’s tolerance level of 6 per cent due to mounting pressure from elevated food prices,” added Nair.
Here is the list of stocks which are the top gainers and losers during August 14th trading session:
Sensex:
Top gainers: Infosys (1.58%), Hindustan Unilever (1.26%), Reliance Industries (1.13%), ICICI Bank (0.70%), and Larsen & Toubro (L&T) (0.64%)
Top losers: JSW Steel (-2.47%), State Bank of India (-2.37%), Tata Steel (-1.79%), Bajaj Finserv (-1.39%), and UltraTech Cement (1.20%)
Nifty50:
Top gainers: Divi’s Laboratories (1.78%), Infosys (1.54%), LTIMindtree Ltd 1.46%), Hindustan Unilever (1.25%), and Reliance Industries (1.02%)
Top losers: Adani Enterprises (-3.64%), JSW Steel (-2.74%), Hindalco (-2.31%), State Bank of India (-2.29%), and Adani Ports (-2.13%)
Where is Nifty headed?
‘’The Nifty index displayed volatility throughout the trading session, before ending the day with minimal change. On the daily chart, it’s evident that the index received support at the 50EMA, leading to a notable intraday rebound. However, the RSI on the daily chart demonstrated a bearish crossover, with its value dropping below 50,” said Rupak De, Senior TechnicalAanalyst at LKP Securities.
‘’This could be indicative of a weakening trend. If the index falls below the 19250 mark, it might incite a corrective movement towards the 19,100-19,150 range in the near future. Conversely, resistance can be identified at the 19,550 level on the higher side,” added De.
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Updated: 14 Aug 2023, 04:05 PM IST
