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Top gainers and losers: Divis Labs, Titan, SBI Life top NIFTY movers as key indices extend rally

Upstox
By Upstox News Desk

3 min read | Updated on August 21, 2024, 16:56 IST

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SUMMARY

NIFTY Pharma raced to an all-time high of 22,587.95 points following gains in Divis Laboratories, Dr Reddy's Laboratories, Glenmark Pharma, Zydus Life, and IPCA Labs. NIFTY FMCG was the top sectoral gainer rising by 1.41%.

Stock list

TITAN
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ULTRACEMCO
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TATASTEEL
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DIVISLAB
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Top gainers and losers: Divis Labs, Titan, SBI Life top NIFTY movers as key indices extend rally

Top gainers and losers: Divis Labs, Titan, SBI Life top NIFTY movers as key indices extend rally

Benchmark indices SENSEX and NIFTY closed almost flat in a lacklustre trade on Wednesday, August 21, ahead of the release of key FOMC minutes later in the day.

The 50-share NIFTY closed higher by 71.35 points, or 0.29%, at 24,770.2. The index opened lower but trimmed losses on the back of gains in pharma and FMCG shares. The key index moved in a range of 24,654.5 and 24,787.95 during the day.

Extending the gains for second straight day, SENSEX closed marginally up by 102.44 points, or 0.13%, at 80,905.30.

Investors are awaiting the release of key FOMC meeting minutes later in the day for more cues about the rate cuts by the US Federal Reserve on Wednesday.

Top NIFTY gainers

Divis Labs was the top gainer among NIFTY shares amid an uptick in pharma shares. The stock bounced 5% to hit a high of ₹4,963.35 apiece on the NSE intraday. The stock later pared some gains to close 3.7% higher at ₹4,898 apiece.
Tata Group firm Titan Company Ltd advanced more than 3% to hit an intraday high of ₹3,582 apiece on the NSE. The stock closed 2.42% higher at ₹3,559 apiece.
Life insurance firm SBI Life closed 2.24% higher at ₹1,800 apiece on the NSE. The stock rallied as much as 2.44% to touch an intraday high of ₹1,804.45 apiece.
Grasim Industries was also among the top NIFTY gainers. The stock closed 2.02% higher at ₹2,689.9 apiece after touching an intraday high of ₹2,692.05 apiece.

HDFC Life, Cipla and Hindalco were also top gainers among NIFTY constituents, closing higher by up to 2%. Nestle, Hindustan Unilever and Dr Reddy’s also advanced.

Ultratech Cement, Tata Steel lead losers

Ultratech Cement fell 1.65% to hit an intraday low of ₹11,161.55 apiece on the NSE. The stock later closed 1.4% lower at ₹11,220, ending its three days of gains.
Tata Steel fell 1.4% to hit a low of ₹151.77 after a Fitch report said metal and mining companies could face higher risks from weakening of their EBITDA margins due to mining royalties levied by states after the SC ruling. Tata Steel shares later closed 1.25% lower at ₹152 apiece on the NSE.
HDFC Bank dropped more than 1% to a low of ₹1,617.8 in day trade. The stock touched a high of ₹1,634.55 before closing 0.59% lower at ₹1,628 apiece.
Tech Mahindra shares dropped up to 1.63% to hit an intraday low of ₹1,602 apiece on the NSE. The stock recovered some of the losses to close at ₹1,608, down 1.26%.
ONGC extended the losses for the second day in a row as the stock closed 0.56% lower at ₹328.25 apiece. The stock dropped up to 1.09% to hit an intraday low of ₹326.5.

Among other NIFTY draggers, SBI and ICICI Bank also fell over 1% in intraday trade.

NIFTY Pharma hits all-time high; FMCG, Media lead sectoral gainers

NIFTY Pharma raced to an all-time high of 22,587.95 points following gains in Divis Laboratories, Dr Reddy's Laboratories, Glenmark Pharma, Zydus Life, and IPCA Labs. NIFTY Pharma has surged around 10% in the past month.

FMCG was the top sectoral gainer rising by 1.41%. NIFTY Consumer Durables rose by 1.35% and NIFTY Media by 1.19% while Metal and Auto indices gained up to 0.60%.

NIFTY Realty dropped the most by 1.34%. PSU Bank and Bank indices also declined.

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