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  5. Top gainers, losers on October 22: Investors lose nearly ₹9 lakh crore amid market crash; BEL, M&M fall over 3.5%

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Top gainers, losers on October 22: Investors lose nearly ₹9 lakh crore amid market crash; BEL, M&M fall over 3.5%

Upstox
By Upstox News Desk

3 min read | Updated on October 22, 2024, 18:28 IST

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SUMMARY

ICICI Bank shares gained the most among benchmark NIFTY constituents. The private sector lender’s shares closed at ₹1,268.35 apiece, up by 0.74%. Nestle India and Infosys emerged as the other gainers among NIFTY constituents. On the other hand, Bharat Electronics Limited (BEL) and Mahindra & Mahindra were the top losers among NIFTY shares.

Stock list

ICICIBANK
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NESTLEIND
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BEL
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M&M
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Investors’ lose ₹9 lakh crore as benchmark indices extend losses for second day: BEL, M&M top NIFTY losers

Investors’ lose ₹9 lakh crore as benchmark indices extend losses for second day: BEL, M&M top NIFTY losers

Benchmark indices SENSEX and NIFTY closed in the red on Tuesday, October 22, extending the losses for the second straight day amid heavy selloffs.

NIFTY50 closed at 24,472 points, down by 309 points, or 1.25%. The key index touched an intraday low of 24,445 and a high of 24,882 in a volatile session.

BSE SENSEX plunged over 900 points, or 1.15%, to close at 80,220. The benchmark index fell to an intraday low of 80,149.53 points earlier in the session. The 30-share gauge touched an intraday high of 81,504.24.

Indian stock markets traded under pressure on Tuesday as gains made by major stocks like ICICI Bank, Nestle India, and Infosys were offset by weak earnings and continued selling by foreign institutional investors. The sentiment on D-street also remained subdued amid rising geopolitical tensions in the Middle East and uncertainty over the United States presidential election. The market meltdown on Tuesday led to investors’ losing nearly ₹9 lakh crore in a single day.

All sectoral indices closed lower on Tuesday. NIFTY PSU Bank and NIFTY Realty declined the most, closing lower by 4.22% and 3.3%, respectively.

Out of the total 50 NIFTY constituents, 47 closed in the red dragged by BEL, Mahindra & Mahindra and Coal India.

BEL, Mahindra & Mahindra emerge as top losers

Bharat Electronics Limited (BEL) stock declined the most among NIFTY constituents. The stock dipped over 4% to hit a low of ₹270.65 apiece. The company’s stock closed at ₹271.6 apiece, down by 3.79%.
Shares of automotive major Mahindra & Mahindra declined more than 4% to hit an intraday low of ₹2,878.2 per share. The stock closed lower by 3.63% at ₹2,889.3 apiece.
Coal India closed lower by 3.36% at ₹469.1 apiece, shares of Adani Enterprises closed at ₹2,840.9 apiece, down by 3.29%. State Bank of India’s stock also closed at ₹789.75 apiece, down by 2.97% at the close.

Grasim Industries, Tata Steel and Power Grid Corporation of India also emerged as losers among other NIFTY constituents, declining up to 2.79%.

ICICI Bank and Nestle India emerge as NIFTY gainers

ICICI Bank shares gained the most among benchmark NIFTY constituents. The private sector lender’s shares closed at ₹1,268.35 apiece, up by 0.74%. The stock gained over 2% to hit an intraday high at ₹1,284.9 apiece.
Nestle India shares traded higher by more than 1% to hit an intraday high of ₹2,385 apiece after the company informed the exchanges about the launch of its new no refined sugar recipes for Cerelac baby formula. The stock settled 0.1% higher at ₹2,357 apiece on the NSE.
Shares of Infosys gained over 1% to hit an intraday high of ₹1,877.8 apiece on the NSE. The stock closed higher by 0.04% at ₹1,853.55 apiece.
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