Top gainers and losers, September 29: Titan, Wipro shares fall 3%, Adani Enterprises surges 5%; check list

On Monday, the foreign institutional investors (FIIs) sold shares worth ₹5,353.22 crore, while the domestic institutional investors (DIIs) purchased equities worth ₹5,189.02 crore on a net basis, according to exchange data.

The SENSEX tanked as much as 0.97% to hit an intraday low of 72,064. Meanwhile, the NIFTY50 tumbled as much as 0.92% to touch the session’s low of 22,569.65.

On September 29, the 30-share BSE Sensex dropped by 242.65 points or 0.33% to end at 72,529.07. The 50-share NIFTY closed lower by 64.05 points or 0.28% at 22,716.20.

NIFTY50 top gainers and losers

The top losers in the index included Titan Company (-3%), Wipro (-2.95%), HCL Technologies (-2.44%), Apollo Hospitals Enterprise (-2.27%) and Tech Mahindra (-2.06%).

On the other hand, Adani Enterprises Ltd (AEL) (5.01%), Adani Ports and Special Economic Zone (4.49%), Dr. Reddy's Laboratories (2.53%), Sun Pharmaceutical Industries (1.47%), and Infosys (1.22%) were among the top gainers.

Shares of AEL and Adani Ports advanced as Adani Group chairman Gautam Adani, the four mentioned group companies and 13 others on Monday settled proceedings initiated by the market regulator SEBI over alleged violations of minimum public shareholding (MPS) norms by paying a settlement amount of ₹1.48 crore.

The settlement covers Adani Enterprises Ltd, Adani Power Ltd, Adani Ports and Special Economic Zone Ltd, and Adani Transmission Ltd, now known as Adani Energy Solutions Ltd, along with their directors.

The proceedings stemmed from complaints received by SEBI in June and July 2020 alleging non-compliance with MPS requirements by certain listed Adani Group companies.

NIFTY Midcap 100 top gainers and losers

NSE’s NIFTY midcap gauge, the Midcap 100, closed 0.99% or 594.80 points lower at 59,319.40 on September 29.

It was dragged down by PB Fintech, which settled 6.11% lower. It was followed by Patanjali Foods (-4.96%), Coromandel International (-4.69%), Voltas (-4.01%) and Premier Energies (-3.97%), which were among the other top laggards.

On the flip side, the top winners were Glenmark Pharmaceuticals (4.98%), Mankind Pharma (4.49%), Vishal Mega Mart (3.49%), BSE (3.31%) and Lenskart Solutions (3.01%).

Shares of BSE rose as investors focus on the potential for fund inflows due to the upcoming NIFTY50 semi-annual index rebalancing move. As per the official communication, the semi-annual index reshuffle is set to take place on the last working day of September, in this case, on Wednesday, September 30, when the index weightage will be rebalanced by including new performing sectors and excluding underperforming ones.

On the technical front, BSE shares have been added to the NIFTY50 effective from Sept. 30, after the company’s average free-float market capitalisation for six months surpassed around ₹1.40 lakh crore, outperforming Wipro’s six-month average free-float market capitalisation, a reason why BSE was included in the benchmark NIFTY50 index.

NIFTY Smallcap 100 top gainers and losers

The NIFTY Smallcap 100 ended at 19,193.55, down by 157.55 points or 0.81%.

The top losers included Amber Enterprises India (-5.49%), Kfin Technologies (-5.19%), Five-Star Business Finance (-5.05%), Whirlpool of India (-3.90%), and Tata Chemicals (-4.47%).

The stock of Tata Chemicals fell after Tata Trusts proposed a restructuring of Tata Sons that could potentially allow the holding company to remain private and avoid a stock-market listing.

Tata Trusts, which hold a 66% stake in Tata Sons, have proposed merging Tata Electronics Systems Solutions Pvt Ltd (TESS) and Tata Consulting Engineers (TCE) with Tata Sons.

The objective is to change the composition of Tata Sons so that the reorganised entity would no longer meet the regulatory criteria for either a non-banking financial company (NBFC) or a core investment company (CIC).

On the contrary, Welspun Corp (3.26%), Gland Pharma (3.07%), HBL Engineering (2.97%), Meesho (2.61%), and Delhivery (2.43%) were among the top gainers.