return to news
  1. Upstox
    /
  2. News
    /
  3. Market News
    /
  4. Stocks
    /
  5. Top gainers and losers: Hindalco, Trent, Grasim Industries lead drags as most sectors close in the red

Market News

Top gainers and losers: Hindalco, Trent, Grasim Industries lead drags as most sectors close in the red

Upstox
By Upstox News Desk

3 min read | Updated on November 07, 2024, 17:03 IST

Twitter Page
Linkedin Page
Whatsapp Page

SUMMARY

Among sectoral indices, metal, realty, pharma and auto were major losers. Hindalco declined the most among NIFTY stocks, nosediving by 8.42% after its US-based subsidiary Novelis reported an 18% drop in September quarter profit. Trent shares tanked 6.12% even as the company reported a 47% jump in net profit and a 39% rise in revenue.

Stock list

HINDALCO
--
TRENT
--
APOLLOHOSP
--
SBIN
--
The 30-share SENSEX dropped 836.34 points, or 1.04%, to close at 79,541.79

The 30-share SENSEX dropped 836.34 points, or 1.04%, to close at 79,541.79

Benchmark indices, SENSEX and NIFTY, snapped the two-day gaining streak to close lower by more than 1% each on Thursday, November 7, amid profit booking. The heavy selling in banking and IT shares ahead of the US Fed policy announcement later in the night also dragged the key indices.

The 50-share NIFTY tanked 284.7 points, or 1.16%, to settle below 24,200 levels at 24,199.35. As many as 46 NIFTY stocks closed in the red while just four advanced.

The index came under heavy selling pressure from the beginning as investors preferred to book profits after a two-day rally. Investors awaited the Fed policy announcement on policy rates against the backdrop of Donald Trump winning the US presidential elections for a second term. Trump's win also fanned fears of protectionism and higher duties which could hurt India's software exports.

The 30-share SENSEX dropped 836.34 points, or 1.04%, to close at 79,541.79. The key index tanked over 950 points during the day hitting a low of 79,419.34. All SENSEX stocks except for SBI and TCS closed in the red.

NIFTY Midcap indices dropped over half a percent while SmallCap declined by up to 1.2%. All NIFTY sectoral indices closed in the re, except PSU bank which remained unchanged. Among sectoral indices, metal, realty, pharma and auto were major losers.

Hindalco, Trent were lead losers after Q2 results

Hindalco declined the most among NIFTY stocks, nosediving by 8.42% after its US-based subsidiary Novelis reported an 18% drop in September quarter profit. Novelis also suspended its short-term EBITDA per tonne projections of $525.
Trent shares tanked 6.12% even as the company reported a 47% jump in net profit and a 39% rise in revenue. According to experts, Trent's Q2 revenue at ₹4,157 crore was lower than the street estimate of ₹4,295 crore.
Grasim Industries declined by 3.07% to close near the day's low. Shriram Finance shares fell by 2.96%. Adani Enterprises dropped 2.74%.

Tech Mahindra, Tata Motors, Tata Consumer, Sun Pharma and Power Grid were also among the major losers.

Apollo Hospitals, SBI close higher

Apollo Hospitals shares gained the most among NIFTY constituents after the company reported a 59% YoY jump in the September quarter profit to ₹396 crore. The stock hit a 52-week high of ₹7,483.9 apiece in day trade before closing with gains of 6.34%.
The State Bank of India shares extended the gains for the fifth straight day on Thursday closing higher by 0.42%. India's largest bank will announce its financial results on Friday.
HDFC Life rebounded by 0.4%, while TCS bucked the weak trend in IT shares to close higher by 0.15%.
Uplearn

About The Author

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

Next Story