Market Recap: Adani Enterprises, SpiceJet, NCC, Tech Mahindra Among Top Gainers and Losers

    A mixed day in the stock market saw Adani Enterprises, SpiceJet, NCC, and Tech Mahindra among the top gainers and losers.

    The Indian stock market closed on a broadly muted note on Tuesday, with the Nifty 50 sustaining above 18,300 positions. Despite the subdued closing, the market’s mood remained optimistic. Adani stocks remained in key focus with stellar buying in the majority of them. Midcap stocks also outperformed the benchmarks.

    Market Performance Overview

    The Sensex ended at 61,981.79, up by 18.11 points or 0.03%. The Nifty 50 surpassed its counterpart to finish at 18,348, higher by 33.60 points or 0.18%. Earlier in the day, the Sensex and Nifty 50 touched an intraday high of 62,245.19 and 18,419.75 respectively.

    Top Gainers and Losers

    On the Sensex, the top gainers were Bajaj Finserv (+1.75%), Tata Motors (+1.18%), Asian Paint (+1.07%), ITC (+1%), and IndusInd Bank (+0.98%). The top losers were Tech Mahindra (-1.21%), Titan (-1.11%), HCL Tech (-1.07%), Kotak Bank (-0.97%), and L&T (-0.88%).

    On the Nifty 50, the top gainers were Adani Enterprises (+13.49%), Divi’s Labs (+3.61%), Baja Finserv (+1.82%), Eicher Motors (+1.54%), and UPL (+1.54%). The top losers were Apollo Hospital (-1.40%), HCL Tech (-1.33%), Grasim (-1.18%), Tech Mahindra (-1.18%), and Kotak Bank (-0.99%).

    Sectoral Indices Performance

    In the case of sectoral indices, auto, and oil & gas stocks were the top gainers, while capital goods and consumer durables were the top underperformers.

    Market Analysts’ Views

    Vinod Nair, Head of Research at Geojit Financial Services, said, “Domestic benchmark indices closed flat after a positive session, driven by buying in the metal, pharma, and auto sectors. However, market sentiment was challenged by a sell-off in IT stocks, influenced by weak signals from the US market.”

    Rupak De, Senior Technical Analyst at LKP Securities, said, despite the lack of significant fluctuations, market sentiment remained optimistic as the Nifty managed to sustain its position above the support level of 18300. However, a notable resistance was observed at 18500. If the Nifty manages to break through this resistance decisively, it could potentially trigger a rally toward the 18800 level.

    In conclusion, the stock market saw a mixed day with some stocks making significant gains while others saw losses. The overall market sentiment remained optimistic, and it will be interesting to see how the market performs in the coming days.

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