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  5. Top gainers and losers: Adani Ports, Coal India, BEL top drags as NIFTY falls below 24,800; Trent, M&M lead gainers

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Top gainers and losers: Adani Ports, Coal India, BEL top drags as NIFTY falls below 24,800; Trent, M&M lead gainers

Upstox
By Upstox News Desk

2 min read | Updated on October 07, 2024, 19:23 IST

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SUMMARY

All the sectoral indices except for NIFTY IT closed with losses. NIFTY Media, PSU Bank and Realty were the lead losers. Tata group company Trent Ltd was the lead gainer among NIFTY stocks. The stock gained 1.86% to settle at ₹7,489.9 apiece. Adani Ports was the biggest loser among NIFTY shares, declining by 4.29% amid the ongoing Israel-Iran conflict.

Stock list

ADANIPORTS
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BEL
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TRENT
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M&M
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Top gainers and losers: Adani Ports, Coal India, BEL top drags as NIFTY falls below 24,800; Trent, M&M lead movers

Top gainers and losers: Adani Ports, Coal India, BEL top drags as NIFTY falls below 24,800; Trent, M&M lead movers

Benchmark indices, SENSEX and NIFTY, declined by nearly 1% each on Monday, extending their losing run to the sixth day amid heavy selling in banking and PSU stocks.

The 50-issue NIFTY declined 218.85 points, or 0.87%, to close in the red at 24,795.75 with 40 of its components ending in the negative territory.

The index opened higher but squandered gains in late morning trade due to increased selling in PSU and banking shares. NIFTY tanked over 320 points to hit an intraday low of 24,694.35. However, buying in IT shares helped the key index recover from the day’s low.

BSE SENSEX dropped 638.45 points, or 0.78%, to close at 81,050 with 23 constituents ending with losses and seven with gains.

All the sectoral indices except for NIFTY IT closed with losses. NIFTY Media, PSU Bank and Realty were the lead losers. NIFTY IT bucked the trend, gaining 0.54%.

On the other hand, NIFTY Midcap indices dropped up to 2% while Smallcap up to 2.57%.

Adani Ports, BEL, Adani Enterprises major losers

Adani Ports was the biggest loser among NIFTY shares, declining by 4.29% amid the ongoing Israel-Iran conflict. Adani Ports operates Haifa port in Israel.
Bharat Electronics Limited declined for the fourth consecutive day amid selling in PSU shares. The stock closed lower by 3.54%.
Adani Enterprises lost 3.2% after reports that Adani group was in talks to acquire Heidelberg Materials' Indian cement business for $1.2 billion. Among other top NIFTY losers, Coal India and NTPC also declined more than 3% each.

Trent, M&M, Bharti Airtel biggest gainers

Tata group company Trent Ltd was the lead gainer among NIFTY stocks. The stock gained 1.86% to settle at ₹7,489.9 apiece.
Mahindra & Mahindra was the second biggest gainer rising by 1.48% to close at ₹3,062 apiece amid reports that the company looks to launch its first hybrid vehicle by 2026. The company’s newly launched Thar ROXX received a strong response from customers as the company registered 1,76,218 bookings within 60 minutes of booking commenced last week.
Bharti Airtel rose by 1.32% after the company announced a partnership with Fortinet to launch 'Airtel Secure Internet'.
ITC shares rose by 1.28% after the conglomerate received the National Company Law Tribunal’s approval for the demerger of its hotel business. Bajaj Finance also advanced 0.67%. Infosys, TCS, Apollo Hospital and Cipla also closed with marginal gains.

About The Author

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Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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