Top gainers, losers today: NTPC, M&M, HDFC Bank, Bajaj Finserv; check full list

For the week, Sensex slipped 0.8 per cent while the Nifty declined 0.5 per cent. The BSE Midcap index clocked a gain of 2.07 per cent this week while the Smallcap index rose 1.18 per cent.

Domestic equity benchmarks Sensex and Nifty ended lower on July 28, extending losses into the second consecutive session, amid weak global cues. This week US Federal Reserve and European Central Bank hiked rates to 22-year and 23-year high peaks respectively. The focus now shifts to the Bank of England meeting next week.

On Friday, Sensex opened flat at 66,266.35 against the previous close of 66,266.82 but plunged 388 points to hit its intraday low of 65,878.65. The index closed at 66,160.20, down 107 points, or 0.16 per cent. Nifty50 closed at 19,646.05, down 14 points, or 0.07 per cent. HDFC Bank ended as the top drag on Sensex today, followed by Infosys, TCS and Axis Bank.

Mid and smallcaps outperformed the benchmark index. The BSE Midcap index closed 0.55 per cent higher at 30,159.82 after hitting its record high of 30,178.22. The Smallcap index rose 0.49 per cent to end at 34,548.46 after hitting its fresh record high of 34,577.99.

‘’Nifty remained under pressure throughout the session but witnessed some recovery in the last hour to close with a marginal loss of 14 points at 19,646 levels. Sectorially, it was mixed with major buying seen in realty,” Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.

‘’Power stocks were in the limelight on the back of attractive valuations and huge investments in the sector. Overall, we expect sectoral rotation in the market, while Index is likely to remain in the consolidation zone with the ongoing result season,” added Khemka.

For the week, Sensex slipped 0.8 per cent while the Nifty declined 0.5 per cent. The BSE Midcap index clocked a gain of 2.07 per cent this week while the Smallcap index rose 1.18 per cent.

Here is the list of stocks which are the top gainers and losers during July 28th trading session:

Sensex:

Top gainers: NTPC(3.96%) Powergrid (3.05%), Mahindra & Mahindra (1.43%), Bajaj Finance (1.35%), and JSW Steel (1.29%)

Top losers: Bajaj Finserv (-1.75%), HDFC Bank (-1.72%), Tata Motors (-1.66%), HCL Technologies (-1.27%), and Tata Consultancy Services (TCS) (-1.20%).

Nifty50:

Top gainers: NTPC (3.76%), Powergrid (3.03%), Apollo Hospitals (2.50%), Adani Ports (1.57%), and Mahindra & Mahindra (1.42%).

Top losers: Bajaj Finserv (-1.96%), HDFC Bank (-1.81%), BPCL (-1.53%), Tata Consultancy Services (TCS) (-1.26%), and HCL Technologies (-1.24%).

BSE:

Top gainers: Intellect Design Arena (19.79%), Llyods Steels Industries (10.13%), Godfrey Phillips India (8.63%), Prestige Estates Projects (7.97%). and NCC (7.55%)

Top losers: Jindal Saw (-12.22%), Supreme Industries (-7.79%), JK Lakshmi Cement (-7.43%), RailTel Corporation of India (-6.105), and LGBalakrishnan BrosLtd (-6.02%)

NSE:

Top gainers: Shree Ram Pro Ltd-RE (50%), Fino Payments Banks Ltd (20%), Foseco India Ltd (20%), Jagsonpal Pharmaceuticals Ltd (20%), and Intellect Design Arena (19.99%)

Top losers: Jindal Saw (-12.43%), Chemfab Alkalis Ltd (-8.56%), Oriental Aromatics Ltd (-8.31%), Supreme Industries (-7.25%), and JK Lakshmi Cement (-7.18%)

Where is Nifty headed?

‘’The recent dip in the market indicates a healthy correction citing the pace of decline and intermediate buying across sectors. And, Nifty has almost reached closer to the upper band of 19300-19500 support zone, offering opportunity for fresh positional longs in the index. However, we feel it would be prudent to use options spreads to start with and wait for a reversal signal,” said Ajit Mishra, SVP – Technical Research, Religare Broking.


about Nifty50

The Nifty 50: A Journey Through India’s Premier Stock Index

The Nifty 50 is a prestigious and prominent stock market index in India that captures the performance of the country’s top 50 companies listed on the National Stock Exchange (NSE). It serves as a barometer of the Indian equity market and is widely regarded as one of the most influential indices in the region. This article delves into the history, composition, significance, and impact of the Nifty 50 on the Indian economy and investors.

1. Historical Background

The Nifty 50 was launched on April 22, 1996, by the NSE, India’s leading stock exchange. Its inception marked a significant milestone in the evolution of the Indian financial markets. The index aimed to provide a reliable and representative measure of the overall market performance by including 50 of the largest and most liquid stocks across various sectors of the economy.

2. Composition and Selection Criteria

The Nifty 50 index consists of companies from diverse sectors, including information technology, finance, pharmaceuticals, automobiles, energy, and more. The selection of companies for the index is based on several stringent criteria, including market capitalization, liquidity, and trading frequency.

To be eligible for inclusion, a company must have a market capitalization that ranks it among the top 50 in India. Additionally, the stock must have traded at an average impact cost of 0.50% or less during the previous six months for 90% of the observations.

The index is rebalanced periodically to ensure that it accurately reflects the changing market dynamics and represents the current economic landscape of India. Companies that no longer meet the selection criteria are replaced by others that qualify.

3. Significance of Nifty 50

The Nifty 50 plays a crucial role in the Indian financial markets for several reasons:

a) Benchmarking: The index serves as a benchmark for mutual funds, exchange-traded funds (ETFs), and other investment vehicles. Fund managers and investors often compare their performance against the Nifty 50 to gauge how well their investments are performing relative to the overall market.

b) Investor Sentiment: The movement of the Nifty 50 is considered an indicator of investor sentiment and market health. A rising Nifty 50 is seen as a positive sign for the economy and vice versa.

c) Trading and Derivatives: The Nifty 50 is one of the most actively traded indices in India. It provides a basis for various derivative products like index futures and options, allowing investors to hedge their positions and speculate on market movements.

d) Foreign Investment: The Nifty 50’s popularity and strong performance have attracted significant foreign institutional investment into India. It is one of the factors that international investors consider while making investment decisions in the country.

4. Notable Companies in Nifty 50

Over the years, the Nifty 50 has seen many companies come and go, reflecting the changing business landscape of India. Some of the notable companies that have been part of the index include Tata Consultancy Services (TCS), Reliance Industries, HDFC Bank, Infosys, ICICI Bank, and more.

These companies are known for their significant contributions to India’s economy and have become household names in the country. The inclusion of such prominent players in the Nifty 50 enhances its credibility and importance in the financial world.

5. Impact on the Indian Economy

The Nifty 50’s performance has a broader impact on the Indian economy as a whole. As the index comprises top companies from various sectors, their financial health and stock price movements reflect the overall economic conditions of India.

A rising Nifty 50 usually indicates optimism and confidence in the country’s economic prospects, which can boost consumer sentiment and drive investments. On the other hand, a declining index may signal economic challenges or uncertainties, which could lead to cautious consumer spending and lower investments.

Furthermore, the Nifty 50’s performance influences foreign investors’ decisions to invest in India. Positive movements in the index attract more foreign capital, which can spur economic growth and development.

6. Challenges and Criticisms

Despite its popularity and significance, the Nifty 50 is not immune to criticisms and challenges. One criticism revolves around the concentration risk – since the index includes only 50 stocks, the performance of a few large-cap companies can significantly impact the index’s overall movement. As a result, the fortunes of these select companies may have an outsized influence on the market, potentially skewing the index’s representation of the broader market conditions.

Moreover, critics argue that the Nifty 50’s methodology might not always capture the true essence of the Indian economy, as it may not adequately represent the performance of small and mid-cap companies that also play a vital role in the country’s growth.

Conclusion

The Nifty 50 has undoubtedly become a symbol of India’s economic prowess and dynamism. It has grown in significance over the years, attracting both domestic and international investors and shaping the investment landscape in India. While it has faced its share of challenges and criticisms, the Nifty 50 continues to be a reliable barometer of the Indian equity market, guiding investors and policymakers alike on their financial journeys. As India’s economy evolves, the Nifty 50 will undoubtedly remain at the forefront, reflecting the growth and potential of the nation’s corporate sector and economy as a whole.


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