Nifty 50 Top Gainers And Losers On Feb. 27: From HDFC Bank, Bajaj Finance To UltraTech Cement And M&M
Banking and non-banking financial companies' shares saw movement as the RBI lowered risk weights of bank loans to NBFCs.
HDFC Bank Ltd., Bajaj Finance Ltd., and Shriram Finance Ltd. emerged as the top gainers during the trading session on Thursday. On the other hand, UltraTech Cement Ltd., Mahindra and Mahindra Ltd., and Trent Ltd. were the worst performers in the NSE Nifty 50 index.
Indian benchmark indices ended Thursday's session flat, with the media and realty sectors declining the most, while finance emerged as a top sectoral gainer, followed by metal. The NSE Nifty 50 ended 2.50 points, or 0.01% lower at 22,545.05, while the BSE Sensex closed 31 points or 0.01% higher at 74,612.43.
In terms of sectoral performance, three out of the 12 sectors ended in the green. The top laggards in Thursday's trade were Nifty Media, Nifty Realty and Nifty Auto. The Nifty Finance, Nifty Metal and Nifty Bank were the sectors that ended the day in green.
The chart below shows key gainers and losers among the Nifty 50 stocks.
HDFC Bank, among the top gainers in the Nifty 50 index, closed 0.95% higher at Rs 1,698.25 after it rose over 2% on Tuesday. Bajaj Finance, which also surged on Tuesday, extended the gains as its shares closed 2.03% higher at Rs 8,660.75.
Banking and non-banking financial companies' shares saw movement after the Reserve Bank of India lowered the risk weights of bank loans to NBFCs to 100% from 125%.
Shriram Finance's stock rallied up to 6.02% to Rs 608.80 before closing 5.18% higher. Sun Pharma Ltd. also closed in the positive after it rose 2.45% to touch Rs 1,653.10. Bajaj Finserv Ltd. was also among the top gainers in Thursday's session.
On the flip side, UltraTech Cement shares plunged up to 6.38%, before closing 4.71% lower at Rs 10,964.15 apiece. This followed UltraTech Cement's latest announcement of its venture into the cable and wire industry.
Mahindra & Mahindra, after being the top gainer for two consecutive sessions, slipped during the session and closed 1.85% lower at Rs 2,777.85. ITC shares also closed 0.8% lower at Rs 404.85.
Trent and Tata Motors Ltd. were also amongst the worst performers for the day, as they closed 3.12% and 1.97% lower, respectively.
