NIFTY settles below 25,000, SENSEX up 376 points: Check top gainers and losers

Key stock indices NIFTY and SENSEX staged a remarkable recovery on Monday, September 9, and settled near the day’s high level, snapping their three days of losses on the back of gains in FMCG and banking shares.

The 50-issue NIFTY closed higher by 84.25 points, or 0.34% to settle at 24,936.4. The index opened lower and hit the day’s low of 24,753.15 due to losses in Asian markets. However, pick up in FMCG, banking and financial services shares helped the index cut losses and trade in the green in afternoon session. The index hit an intraday high of 24,957.5.

SENSEX settled 375.61 points, or 0.46%, higher at 81,559.54 with half of its constituents ending in the green. The 30-share index opened lower at 80,973.75. However, a recovery in European shares boosted the index as it hit a high of 81,653.36 in the pre-close session.

Global stocks were mixed after weaker-than-expected United States jobs data left investors uncertain about the size of the rate cut by the US Federal Reserve.

Buying in FMCG, financial services and banking shares supported the gains while IT and OIL & Gas shares were the biggest drag.

NIFTY FMCG index was the top performer among sectoral indices. The index rose by over 2% driven by gains in United Spirits, UBL, HUL, Dabur, ITC and Tata Consumers.

NIFTY Bank advanced over 1% following gains in private banks while financial services rose by around 0.8%.

Among losers, NIFTY Oil & Gas fell the most by 1.37 % NIFTY IT dropped 0.73%%.

HUL, ICICI Bank, ITC among top NIFTY gainers

Hindustan Unilever (HUL) was the biggest gainer among NIFTY stocks. The FMCG giant rose by more than 3% to hit a fresh life-time-high of ₹2,938.2 apiece on the NSE after it announced forming a committee to evaluate prospects of its ice cream business under the Kwality Wall's brand. The stock closed higher by 2.85%.

Shriram Finance Ltd also hit a fresh year-high of ₹3,323.2 apiece on the NSE after the NBFC announced plans to raise $1 billion from overseas markets in the next six months. The stock settled up 2.3%, emerging as the second biggest gainer.

ICICI Bank rallied over 2.5% to trade near 52-week high levels at ₹1,236.85 during the day. The stock closed 2.09% higher.

FMCG conglomerate ITC also advanced nearly 2%. It hit a high of ₹512.65 in intraday trade.

Biscuit maker Britannia Industries gained 1.74%. Among others, Kotak Bank, IndusInd Bank, and Axis Bank advanced around 1.5%.

ONGC, Tech Mahindra, Hindalco among major losers

ONGC dropped the most among NIFTY shares, declining by 2.91%. Tech Mahindra was the second lead loser amid selling on IT counters. It dropped by 2.48%. Oil retailer BPCL declined by 1.19%.

Tata Steel declined 1.14% while Hindalco shares dropped 1.06%.

Tata Motors fell nearly 1% after the company announced big festive discounts to push sales of its models like Nexon, Harrier and Safari.