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  5. SENSEX, NIFTY ends flat as banking stocks drag market lower after early gains: Check top gainers and losers

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SENSEX, NIFTY ends flat as banking stocks drag market lower after early gains: Check top gainers and losers

Upstox
By Upstox News Desk

2 min read | Updated on August 19, 2024, 17:14 IST

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SUMMARY

Among the 50 NIFTY stocks, 31 stocks gained while 19 declined. The top gainer was Hindalco Industries, which rallied up to 4.12% intraday. The stock closed 4% higher at ₹659.4 apiece. Shriram Finance Ltd also gained 3.5% to hit its 52-week high of ₹3,085 apiece after being a top NIFTY gainer in the previous session as well.

Stock list

BAJAJ-AUTO
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HINDALCO
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M&M
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SHRIRAMFIN
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Top gainers and losers on August 19: Hindalco Industries, Shriram Finance and Tata Steel among NIFTY movers; check full list

Top gainers and losers on August 19: Hindalco Industries, Shriram Finance and Tata Steel among NIFTY movers; check full list

Domestic markets started the week on a sombre note, trading mostly flat on Monday, August 10. The SENSEX closed almost unchanged at 80,424, down 12.16 points, or 0.02%. NIFTY 50 inched up 31.5 points, or 0.13%, to settle at 24,572.

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Markets cheered the central government’s decision to reduce the windfall tax on petroleum crude to ₹2,100 per tonne, down from ₹4,600 per tonne, effective August 17. However, weak Asian cues dragged the sentiment.

Also Read: Newly listed IPOs gave robust returns, Unicommerce eSolutions top gainers

Asia-Pacific markets mostly declined on Monday after witnessing a strong rally in the previous week. Traders are keeping up hopes of the US Federal Reserve beginning its rate cut cycle in September amid positive US data that showed inflation to be under control.

All the NIFTY sectoral indices closed in the green except auto and bank. Healthcare, IT, metal, oil & gas, telecom, media, and power rallied up to 2%.

Top NIFTY gainers

Among the 50 NIFTY stocks, 31 stocks gained while 19 declined. The top gainer was Hindalco Industries, which rallied up to 4.12% intraday. The stock closed 4% higher at ₹659.4 apiece.

Shriram Finance Ltd also gained 3.5% to hit its 52-week high of ₹3,085 apiece after being a top NIFTY gainer in the previous session as well. Next in the line of tap gainers was Bharat Petroleum Corp. Ltd, which closed up 3.3% to ₹343.55.
Tata Steel Ltd rose 3% to ₹154.09, while LTI Mindtree Ltd inched up 2% to ₹5,675 apiece.

Top NIFTY Losers

Auto major Mahindra and Mahindra Ltd was the biggest NIFTY loser on Monday, dropping 2.6% to ₹2,767. The decline was on account of profit-booking after the stock became one of the top NIFTY gainers on Friday, rising 3.5%, on launching a new variant of its mid-size SUV Thar Roxx.
Bajaj Auto Ltd was also among the top index draggers, closing down 1.1% at ₹9,772 apiece. Financial stocks had a muted day, with IndusInd Bank and Axis Bank falling 1% each to ₹1,349.6 and ₹1,155 per share, respectively.

SBI Life Insurance Co. Ltd slipped 0.96% to close at ₹1,672.75 apiece.

SIP
Consistency beats timing.
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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.

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