Top gainers, losers today: M&M, Sun Pharma, Tata Motors, SBI among active stocks
Domestic benchmark equity indices Nifty and Sensex rose slightly on Monday, supported by IT, pharmaceutical, and healthcare stocks, amidst caution in a week that would be driven by a lot of data, including US inflation data and the Reserve Bank of India’s monetary policy decision.
The Nifty 50 index was up 0.41% at 19,597.30 while the S&P BSE Sensex rose 0.35% to 65,953.48. Among the Nifty sectoral indices, Nifty IT (up 1.13%), Nifty Pharma (up 1.56%), and Nifty Healthcare (up 2.01%).
Divi’s Laboratories Ltd (up 4.51%), Mahindra & Mahindra Ltd (up 4.33%), SBI Life Insurance Company Ltd (up 2.50%), Sun Pharmaceutical Industries Ltd (up 2.04%) and LTIMindtree Ltd (up 2.01%) were among the top gainers of Nifty 50. Britannai Industries Ltd (down 2.68%), Bajaj Auto Ltd (down 0.87%), State Bank of India Ltd (down 0.86%), Tata Motors Ltd (down 0.81%), and Axis Bank Ltd (down 0.50%) were among the laggards today.
“The Indian market began the data-centric week with modest gains, primarily propelled by strong performances in the pharma and IT sectors. Global markets portrayed a mixed picture, with US futures exhibiting positivity in response to a moderation in bond yields, while European markets experienced declines due to weak economic data. Caution prevailed in the market due to the anticipation of upcoming inflation data and the RBI’s monetary policy,” said Vinod Nair, Head of Research at Geojit Financial Services.
Following a US jobs data that had investors considering whether the Federal Reserve will raise interest rates again, Asian stocks were trading mixed on Monday. Tokyo’s Nikkei 225 closed 0.2% higher at 32,254.56; Hong Kong’s Hang Seng Index closed flat at 19,537.92; and Shanghai – Composite ended 0.6% lower at 3,268.83.
(more to come)
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Updated: 07 Aug 2023, 03:41 PM IST
