Top gainers and losers, June 23: Infosys, Wipro, TCS fall over 3%, Cipla jumps 1%; check full list

Furthermore, Asian markets also closed lower, with South Korea’s KOSPI sinking 10%, Japan's Nikkei falling 3.5%, China's Shanghai Composite index dropping 1.37%, and Hong Kong's Hang Seng declining 1.82%.

The SENSEX tanked as much as 1.3% to touch an intraday low of 76,082.51, while the NIFTY50 crashed as much as 1.32% to touch the session’s low of 23,784.95.

On June 23, the SENSEX declined by 893.39 points or 1.16% to close at 76,200.68. Meanwhile, NIFTY50 ended at 23,824.10, down by 278.80 points or 1.16%.

NIFTY50 top gainers and losers

Infosys dragged the NIFTY50 index, closing 3.42% lower, amid a decline in the NIFTY IT index.

It was followed by Wipro (-3.21%), Tata Consultancy Services (TCS) (-3.21%), Tata Consultancy Services (TCS) (-3.19%), Adani Enterprises (-3.10%) and JSW Steel (-3.10%), which were among the top losers on Tuesday.

On the other hand, the top gainers were Cipla (1.36%), Power Grid Corporation of India (0.95%), Dr. Reddy's Laboratories (0.79%), Asian Paints (0.41%) and Sun Pharmaceutical Industries (0.22%).

The stock of Cipla advanced amid a surge in pharma stocks, following reports that the United States Food and Drug Administration (US FDA) approached Indian firms for cancer drug supply.

According to a Mint report citing officials aware of the development, the US FDA reached out to the Indian Drug Manufacturers’ Association (IDMA) to identify potential Indian pharmaceutical manufacturers that are capable of supplying cancer medicine to the United States.

NIFTY Midcap 100 top gainers and losers

NSE’s NIFTY Midcap 100 gauge declined 1.05% or 658.75 points to close at 62,070.35 on June 23.

The index was weighed down by National Aluminium Company (-5.94%), Ashok Leyland (-3.94%), Dixon Technologies (-3.62%), NMDC (-3.62%) and Indus Towers (-3.42%), which were among the top laggards.

On the flip side, the top winners included Laurus Labs (3.18%), Aurobindo Pharma (2.88%), Info Edge (India) (2.79%), Bharat Forge (1.72%) and Page Industries (1.69%).

Shares of Info Edge (India), the parent company of Naukri, surged after it shared an update on its investments in artificial intelligence (AI), deeptech, and consumer technology startups through both direct investments and its alternative investment funds (AIFs).

In a letter to shareholders, the company said it has invested ₹614 crore across 28 AI startups so far, with the portfolio now valued at ₹1,268 crore. This translates into a 2.1x multiple on invested capital and a gross internal rate of return (IRR) of nearly 31%.

NIFTY Smallcap 100 top gainers and losers

The NIFTY Smallcap 100 index fell by 0.48% or 91.10 points to end at 18,805.90.

Its top losers included Netweb Technologies India (-3.23%), Angel One (-3.20%), Himadri Speciality Chemical (-3.10%), Aptus Value Housing Finance India (-2.99%) and Urban Company (-2.94%).

On the contrary, Cohance Lifesciences (12.79%), Meesho (7.72%), Piramal Pharma (6.65%), Neuland Laboratories (5.09%), and Ather Energy (4.83%) were among the top gainers.

Meesho shares jumped over 7% during the trading session on Tuesday, June 23, on elevated trading volumes and heightened investor interest as the focus lies on the firm’s strategic differentiation from its competitors.

Trading volumes of the company’s stock surged past 78 million shares across both the NSE and BSE stock exchanges as of the afternoon market hours, according to Trendlyne data.

Experts predict that the company’s valuation remains expensive, but the business model is built to structurally reduce the cost of doing business while making products affordable for customers in the market.