Nifty 50 Top Gainers And Losers On Jan. 24: From HUL, Eicher Motors And Grasim Industries To Dr. Reddy's
On the Nifty 50, 31 stocks closed in the red, while 18 advanced.
Share prices of Hindustan Unilever Ltd., Eicher Motors Ltd. and Britannia Industries Ltd. were the top gainers among the NSE Nifty 50 stocks on Friday. Among the losers were shares of Dr. Reddy's Laboratories Ltd., Trent Ltd. and Bharat Petroleum Corp.
Indian benchmark indices extended their losses to the third consecutive week as earnings woes continue to hurt investor sentiments. The key gauges treaded with caution on Friday to snap their two-day gains, weighed by a fall in heavyweights HDFC Bank Ltd. and Reliance Industries Ltd.
The S&P BSE Sensex closed 330 points, or 0.43% down at 76,190, while the NSE Nifty 50 was 113 points, or 0.49% lower at 23,092. Intraday, the Nifty fell 0.67% to 23,050, and the S&P BSE Sensex declined 0.56% to 76,091.7.
On the Nifty, 31 stocks closed in the red, while 18 advanced.
Top Gainers
Shares of HUL added 2.5% as investors shed their post-earnings negative reaction after its third-quarter earnings.
Eicher Motors and Grasim Industries stocks closed higher for the third day, while Britannia Industries shares gained for the sixth day. All three stocks rose over 1%.
Top Losers
Dr. Reddy's was the top loser on the Nifty after it logged its biggest fall since December 2023, following brokerage target price cuts after the company announced its results for the December quarter. Brokerages believe that the pharma major's loss in market share of generic Revlimid or gRevlimid will negatively impact its performance.
The scrip shed over 4.9% at market close.
Trent fell 4%, BPCL and Mahindra & Mahindra shares were down over 3% and Cipla Ltd. stock dropped 2.7%.
