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  5. Top gainers and losers on November 11: Asian Paints falls 8% as NIFTY50 close flat near 24,150; check full list

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Top gainers and losers on November 11: Asian Paints falls 8% as NIFTY50 close flat near 24,150; check full list

Upstox
By Upstox News Desk

2 min read | Updated on November 11, 2024, 17:40 IST

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SUMMARY

Among sectoral indices, Media, Metal, Pharma and FMCG were major losers. NIFTY IT and Bank shares advanced. Asian Paints emerged as the biggest loser among NIFTY constituents. The stock dropped 8% as the paints company reported a little over 42% year-on-year decline in consolidated net profit to ₹694.64 crore for the September quarter.

Stock list

ASIANPAINT
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BRITANNIA
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POWERGRID
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TRENT
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Trading (5) (1).webp

NIFTY below 24,150, SENSEX settles near 79,500: Power Grid, Trent, HCL Tech lead movers; Asian Paints major drag

Benchmark indices SENSEX and NIFTY settled flat after a volatile session on Monday, November 11.

NIFTY50 slipped 6.9 points, or 0.03%, to settle at 24,141. As many as 30 NIFTY stocks closed lower, while 19 ended higher, and one remained unchanged.

The 30-share SENSEX inched up 9.83 points, or 0.01%, to close at 79,496. As many as 18 SENSEX shares declined, and 12 advanced. Stock markets opened lower and moved between gains and losses during the day.

SENSEX swung around 1,100 points between a high of 80,102 and a low of 79,001.34. NIFTY swayed over 300 points between an intraday high of 24,336.8 and a low of 24,004.6.

Investors preferred to book profits at every rise amid concerns over weaker-than-expected Q2 results. In the broader markets, NIFTY Midcap100 indices declined up to 0.88% while NIFTY Smallcap 100 dropped over 1.2%.

Among sectoral indices, NIFTY Media, Metal, Pharma and FMCG were major losers. NIFTY IT and Bank shares advanced.

Asian Paints, Britannia, Apollo Hospitals major losers

Asian Paints emerged as the biggest loser among NIFTY constituents. The stock dropped 8% as the paints company reported a little over 42% year-on-year decline in consolidated net profit to ₹694.64 crore for the September quarter. Revenue declined 5.3% YoY ₹8,003.02 crore due to weak demand and adverse weather conditions.
Britannia Industries tanked nearly 6% ahead of its Q2 financial results. Apollo Hospitals dropped 3.59% due to profit-taking after recent gains.
Cipla dropped 2.69% even as its CEO expressed optimism the company is in a strong position to weather potential trade disruptions in the United States.
Tata Consumer, ONGC and Mahinda and Mahindra shares closed lower by up to 2%, among other NIFTY constituents.

PowerGrid, Trent, IT shares major gainers

Power Grid emerged as the biggest gainer among NIFTY shares, rising by 4.35%. The stock closed near the day's high at ₹330 apiece on the NSE.
Trent shares rose by 2.6% after bullish comments by experts following its Q2 financial results.
IT shares HCL Tech, Infosys, Tech Mahindra and TCS up to 1.77% in hopes of increased technology spending and outsourcing in the US economy.

HCL Tech gained 1.77% while Infosys rallied 1.59%, Tech Mahindra advanced by 1.41% and TCS by 0.95%.

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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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