Shares of Tata Steel Ltd., Bharti Airtel Ltd. and JSW Steel Ltd. were the top gainers among the NSE Nifty 50 stocks on Friday. Among the losers were shares of Oil & Natural Gas Corp., ITC Ltd., State Bank of India and Britannia Industries Ltd.
The NSE Nifty 50 and BSE Sensex closed lower for the third consecutive session on Friday, as market participants reacted to the Reserve Bank of India's Monetary Policy Committee meeting outcome.
In terms of sectoral performance, eight out of the 12 sectors on the NSE advanced. The Nifty PSU Bank, FMCG and Media were among the top gainers. While the Nifty Metal and Auto dragged the most.
During the session, Mahindra & Mahindra Ltd., Ola Electric Mobility Ltd., PSP Projects Ltd. and Mazagon Dock Shipbuilders released their quarterly results.
Top Gainers
Tata Steel Ltd. was the top gainer on the NSE Nifty 50 in Friday's trade as all metals stocks rallied following the RBI cutting the repo rate by 25 bps likely in hope of a demand boost post the rate cut.
Shares of Bharti Airtel rose to make the company second biggest gainer after it posted strong third quarter results on Thursday. JSW Steel Ltd. was also among the top gainers on NSE Nifty 50.
Top Losers
Among the losers, ONGC fell the most followed by ITC Ltd., State Bank Of India., and Britannia Industries Ltd.
ONGC share price fell 3.38% to Rs 253.85 apiece on Friday followed by ITC whose share price fell nearly 3%, down to Rs 428.40 apiece on Friday. This decline in ITC stock came after consistent gains for two straight days.
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