Nifty Top Gainers And Losers On Dec. 24: From Tata Motors, Adani Enterprises To JSW Steel

The markets resumed their decline after a one-day fall on Tuesday, with Tata Motors Ltd., Adani Enterprises Ltd. and Bharat Petroleum Corp. emerging as the top gainers for the day.

Power Grid Corp., JSW Steel Ltd., SBI Life Insurance Co. and Titan Co. were among the worst performers.

The NSE Nifty 50 ended 25.80 points or 0.11% down at 23,727.65 and the BSE Sensex settled 67.30 points or 0.1% lower at 78,472.87.

Indices were dragged down by losses in metals and PSU banks, while gains in IT and consumer stocks supported momentum, said Vikram Kasat, head - advisory, PL Capital - Prabhudas Lilladher. The depreciating rupee supported with the IT stocks, as it hit a record low of 85.20 against the US dollar on Tuesday, he noted.

Tata Motors, the top gainer in the Nifty 50 index, closed 1.92% higher at Rs 736.10 apiece after it rose as much as 3.2% during the day. It was not just the auto company, but all Tata Group companies gained on Tuesday amid reports that Tata Capital, its flagship financial arm, will list its shares on domestic bourses. The listing by Tata Capital is in order to comply with the Reserve Bank of India's norms for 'upper layer' NBFCs.

Adani Enterprises' stock also rallied to close 1.43% higher on Tuesday. BPCL was also among the key gainers of the day, as its stock closed 1% higher at Rs 292 apiece on the NSE.

The company has approved the commencement of pre-project activities for setting up a greenfield refinery cum petrochemicals complex in the coast of Andhra Pradesh at Rs 6,100 crore.

"With no significant domestic triggers, markets are expected to take cues from global trends and foreign investor activity in the coming sessions. Amid heightened volatility and persistent FII selling pressure, a cautious approach is advised for market participants. The focus will remain on global developments to navigate this uncertain environment," said Kasat

Eicher Motors also closed 0.89% higher at Rs 4,792 per share after seeing a 1.21% rise during the day. ITC Ltd. was also among the top gainers. It closed 0.89% higher at Rs 478.45. The stock has been in focus since the company announced a demerger of hotel business on Dec. 17. The demerger will come into effect on Jan, 1, 2025.

Powergrid plunged up to 2.08%, before closing 1.65% lower at Rs 310.10 apiece. JSW Steel also saw a 1.98% fall, but recovered partially to close 1.62% down at Rs 921.85, followed by SBI Life Insurance that closed 1.30% lower at Rs 1,387.

Titan and State Bank of India, which were also among the drags, settled 1.28% and 1.11% lower, respectively.