Nifty Top Gainers And Losers On Dec. 30: From Adani Enterprises, HCLTech To Tata Motors
Adani Enterprises, the top gainer in the Nifty, closed 7.57% higher at Rs 2,592.35 apiece after it rose as much as 8.3% during the day.
Adani Enterprises Ltd., HCL Technologies Ltd. and Sun Pharmaceutical Industries Ltd. emerged as the top gainers on Monday, while Hindalco Industries Ltd., Bharat Electronics Ltd., Trent Ltd. and Tata Motors Ltd. were among the worst performers.
The NSE Nifty 50 closed 168.50 points or 0.71% down at 23,644.90 and the BSE Sensex ended 450.94 points or 0.57% lower at 78,248.13.
Quarterly readjustment in several Nifty indices led stock specific action in the market, pointed out Siddhartha Khemka, head - research, wealth management, Motilal Oswal Financial Services Ltd.
"Domestic Markets are anticipated to remain range bound in the near term. For the calendar year 2025, we expect consolidation to continue in the first half, while the second half could see a recovery on the back of enhanced government spending and improved corporate earnings," Khemka said.
Adani Enterprises, the top gainer in the Nifty, closed 7.57% higher at Rs 2,592.35 apiece after it rose as much as 8.3% during the day. This comes after Ventura Securities on Saturday set a bullish target of Rs 3,801 per share for Adani Enterprises, predicting a potential upside of 57.8% over the next 24 months. The company also announced that it would exit joint venture Adani Wilmar Ltd. by divesting its entire 44% stake that will raise over $2 billion.
HCLTech was also among the key gainers of the day as its stock closed 1.95% higher at Rs 1,928.95 apiece on the National Stock Exchange. The stock has seen a rise of 1.36% in the last two weeks. Sun Pharma's stock rallied to close 1.22% higher.
IndusInd Bank Ltd. closed 1.06% higher at Rs 963.50 per share after seeing a 2.11% rise during the day. The private sector lender said a day ago that it would sell over 10 lakh microfinance bad loans worth Rs 1,573 crore through an auction. The move comes when other private banks like HDFC Bank Ltd. and ICICI Bank Ltd. dragged the benchmarks down.
Tech Mahindra Ltd. was also among the top gainers. It closed 1.71% higher at Rs 1,740.85.
On the flip side, Hindalco Industries plunged up to 2.96%, before closing 2.64% lower at Rs 601.10 apiece. This is despite the Aditya Birla Group firm receiving the allocation for the Meenakshi coal mine in Odisha. The company has been seeing a drop for the last two days and has fallen by 4.40%.
Bharat Electronics also saw a 3.15% fall, but recovered to close 2.45% down at Rs 284.90, followed by Trent that closed 2.3% lower at Rs 6,954.35 apiece. Both the companies have seen a 3.49% and 1.55% fall in the last two sessions.
Tata Motors and Oil & Natural Gas Corp., which were also among the drags, settled 2.25% and 1.79% lower respectively.
