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  5. Top gainers, losers on October 23: M&M and Sun Pharma tumble as markets extend losses for third day

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Top gainers, losers on October 23: M&M and Sun Pharma tumble as markets extend losses for third day

Upstox
By Upstox News Desk

3 min read | Updated on October 23, 2024, 18:37 IST

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SUMMARY

Bajaj Finance shares gained the most among benchmark NIFTY constituents. The Bajaj Group stock closed at ₹7,004.85 apiece, up 4.9%, on the NSE. Tech Mahindra, Bajaj Auto and Tata Consumer emerged as the other major NIFTY gainers. On the other hand, M&M and Sun Pharma were the top drags.

Stock list

BAJFINANCE
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TECHM
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M&M
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SUNPHARMA
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Top Gainers and Losers: Bajaj Finance, Tech Mahindra and Tata Consumer lead NIFTY movers; M&M major drag

Top Gainers and Losers: Bajaj Finance, Tech Mahindra and Tata Consumer lead NIFTY movers; M&M major drag

Benchmark indices SENSEX and NIFTY closed in the red on Wednesday, October 23, extending losses for third straight day.

NIFTY50 closed 36.6 points, or 0.15%, lower at 24,435 in a volatile session. Earlier in the session, the key index hit an intraday low of 24,378 and a high of 24,604.

The BSE SENSEX closed at 80,081, down by 138 points, or 0.17%. The benchmark index fell to an intraday low of 79,891 points in today’s trade and touched a high of 80,646.

On Wednesday, Indian stock markets traded under pressure amid broad-based selling, mixed Q2 earnings and continued outflows by foreign investors.

Sectoral indices NIFTY IT and NIFTY PSU Bank closed higher by 2.38% and 0.33%, respectively. On the other hand, the NIFTY Pharma and NIFTY Healthcare closed lower by 1.56% and 1.4%, respectively.

Out of the total 50 NIFTY constituents, 32 closed in the red dragged by Mahindra & Mahindra, Sun Pharmaceutical Industries and Eicher Motors.

Bajaj Finance and Tech Mahindra emerge as top NIFTY gainers

Bajaj Finance shares gained the most among the NIFTY constituents. The Bajaj group company’s shares closed at ₹7004.85 apiece, up by 4.9%. The stock surged over 6% to hit an intraday high at ₹7,098.85 apiece. The stock rallied after the company posted its Q2FY25 earnings on October 22.

The company’s consolidated total income for Q2FY25 grew 27% to ₹17,095.41 crore from ₹13,384.08 crore in Q2FY24.

IT services company Tech Mahindra’s shares traded higher by more than 3% to hit an intraday high of ₹1,749 apiece. The stock settled with gains of 2.14% at ₹1,732.85 apiece on the NSE.
Shares of Tata group company Tata Consumer Products gained over 1% to hit an intraday high of ₹1,016.8 apiece on the NSE. The stock closed higher by 1.78% at ₹1,016 apiece.
Bajaj Auto shares jumped over 3% to hit an intraday high of ₹10,735.1 apiece. The stock gained after the company announced the launch of Pulsar N125, its latest addition to the Pulsar N series on October 22. The stock closed 1.75% higher at ₹10,550 apiece on the NSE.
Shares of HDFC Bank gained over 1% to trade at an intraday high of ₹1,746.5 apiece before closing at ₹1,736.2 apiece, up by 1.26%, on the NSE.

Among other NIFTY constituents TCS, HCL Technologies and Coal India shares closed higher by up to 1.36%.

M&M and Sun Pharma top losers

Auto major Mahindra & Mahindra declined the most among NIFTY constituents. The stock dipped over 3% to hit an intraday low of ₹2,781 apiece. The company’s shares closed at ₹2,794.3 apiece, down by 3.22%.
Shares of Sun Pharma declined nearly 3% to hit an intraday low of ₹1,832 per piece. The stock closed lower by 2.69% at ₹1,836.7 apiece.
Among other NIFTY stocks that ended lower, Eicher Motors shares closed at ₹4,660.7 apiece, down 2.07%, Shriram Finance shares closed at ₹3,194 apiece, down 1.86%. Power Grid Corporation of India shares also closed at ₹316.8 apiece, down by 1.84%.

Larsen & Toubro, Cipla and Adani Ports and Special Economic Zone shares also emerged as losers among NIFTY constituents, declining up to 1.76%.

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