return to news
  1. Upstox
    /
  2. News
    /
  3. Market News
    /
  4. Trading
    /
  5. Top gainers and losers: JSW Steel, Tata Steel, Hindalco top NIFTY movers as benchmark indices stage smart recovery

Market News

Top gainers and losers: JSW Steel, Tata Steel, Hindalco top NIFTY movers as benchmark indices stage smart recovery

Upstox
By Upstox News Desk

4 min read | Updated on November 05, 2024, 18:05 IST

Twitter Page
Linkedin Page
Whatsapp Page

SUMMARY

JSW Steel shares gained the most among benchmark NIFTY constituents settling 4.57% higher at ₹998.5 apiece. Tata Steel and Hindalco Industries emerged as the other major gainers among NIFTY shares. On the other hand, Trent, and Adani Ports and SEZ were the top losers.

Stock list

JSWSTEEL
--
TATASTEEL
--
TRENT
--
ADANIPORTS
--
Out of the total 50 NIFTY constituents, 11 closed in the red including lead drags like Trent, Adani Ports and SEZ, and Asian Paints

Out of the total 50 NIFTY constituents, 11 closed in the red including lead drags like Trent, Adani Ports and SEZ, and Asian Paints

Benchmark indices SENSEX and NIFTY closed in the green on Tuesday, November 5, registering a smart recovery led by metal and financial stocks.

The NIFTY50 closed at 24,213.3 with gains of 217.95 points, or 0.91%. During the intraday session, the key index hit a high of 24,229.05 and a low of 23,842.75.

The BSE SENSEX closed at 79,476.63, up 694.39 points, or 0.88%. The 30-share index oscillated between a low of 78,296.7 points and a high of 79,523.13 in the intraday trade.

Indian stock markets made a smart recovery from the meltdown on Monday, where the benchmark equity indices suffered their steepest losses in more than a month. However, uncertainty continued to prevail, amid the ongoing US Presidential elections and the expected outcome of the US Federal Reserve’s policy decision for November.

The US Federal Reserve is expected to announce a 25 basis points rate cut, according to experts. The rally in metal stocks also aided the recovery in key indices in the afternoon session. The metal stock traded in the green amid reports of China's national steel PMI increasing by 5.6 points to 54.6 in the month of October.

The sectoral indices NIFTY Metal and NIFTY Financial Services closed higher by 2.84% and 1.98%, respectively. On the other hand, FMCG and Media declined the most, closing lower by 0.34% and 0.23%, respectively.

Out of the total 50 NIFTY constituents, 11 closed in the red including lead drags like Trent, Adani Ports and SEZ, and Asian Paints.

JSW Steel and Tata Steel emerge as top NIFTY gainers

JSW Steel shares gained the most among benchmark NIFTY constituents. The Jindal Group company’s shares closed at ₹998.5 apiece, up by 4.57%. The stock surged over 5% to hit an intraday high at ₹1,003 apiece. The stock also emerged as the biggest gainer on the NIFTY Metals index.
Tata Steel shares traded higher by nearly 4% to hit an intraday high of ₹152.55 apiece gaining ahead of the company’s announcement of its financial results for the September quarter of FY25. The stock settled 3.74% higher at ₹152.45 apiece on the NSE.
Shares of Hindalco Industries closed at ₹698 apiece, up by 3.51%. Earlier today the stock gained over 4% to hit an intraday high of ₹701.45 apiece.
Shares of Bajaj Auto gained over 5% to hit an intraday-high of ₹10,007.3 apiece on the NSE after the company’s total vehicle sales for October 2024 grew by 2% to 4,79,707 units compared to 4,71,188 units in October 2023. The company’s total vehicle sales for the April to October period of 2024 also grew by 10% to 28,03,267 from 25,52,548 in the corresponding period of the previous year. The stock closed higher by 3.35% at ₹9,844.95 apiece on the NSE.
Axis Bank’s shares gained over 3% to trade at an intraday high of ₹1,174.9 apiece. The stock closed at ₹1,170.15 apiece, up by 2.71%.

Among other NIFTY constituents, HDFC Bank, IndusInd Bank and Grasim Industries were the gainers. The stocks closed higher by up to 2.67%.

Trent and Adani Ports and SEZ are top losers

Shares of Trent Limited declined the most among NIFTY constituents. The stock dipped over 3% to hit an intraday low of ₹6,794.05 apiece. The Tata Group company’s shares settled at ₹6943.25 apiece, down by 1.71%. The stock was under pressure ahead of its Q2 results scheduled for November 7.
Shares of Adani Ports and Special Economic Zone (SEZ) declined nearly 4% to hit an intraday low of ₹1,295.9 per share. The stock closed lower by 1.5% at ₹1,329 apiece.
Shares of Asian Paints closed lower by 0.87% at ₹2,890 apiece, while ITC settled at ₹480.95 apiece down by 0.75%. Infosys shares also closed at ₹1,753 apiece, with a marginal decline of 0.6%.

Britannia Industries, Tech Mahindra and Hindustan Unilever settled in the red among other NIFTY constituents, declining up to 0.47%.

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.

Next Story