Top Gainers & Losers: Grasim, Sun Pharma rise most among blue-chip stocks; SBI Life dips
Top Gainers & Losers: Indian equity benchmarks Sensex and Nifty50 managed to halt a two-day losing streak with mild gains on Monday.
Top Gainers & Losers: Indian equity benchmarks Sensex and Nifty50 managed to halt a two-day losing streak with mild gains on Monday, tracking mixed moves across global markets. Gains in oil & gas, IT and FMCG shares pushed the headline indices higher, though losses in auto stocks limited the upside.
Both headline indices finished the volatile day 0.2 per cent higher. The Nifty rose 40.7 points for the day to end at 16,985.7, having broadly moved within the 16,900-17,100 band through the session, and the Sensex closed with a gain of 126.8 points at 57,653.9 after gyrating in a range of more than 600 points around the flatline in intraday trade.
Broader indices Nifty Midcap 100 and Nifty Smallcap 100 declined 0.5 per cent and 1.6 per cent for the day respectively.
In the Nifty basket of blue-chip stocks, Grasim, Reliance Industries and Cipla were the top gainers whereas Adani Ports, M&M and Tata Motors were the top laggards.
Here are some blue-chip stocks that moved the most on March 27:
Shares of Garsim Industries – an Aditya Birla Group company – were the top Nifty gainer, rising nearly two per cent for the day to Rs 1,623.9 apiece on NSE.
Grasim’s viscose business may see gradual improvement with bottoming out of prices while its long-term growth outlook remains intact outpacing cotton and synthetic fibers growth rates, according to Sharekhan, which has a ‘buy’ rating on the stock with a target of Rs 1,900 apiece.
Sun Pharma was the top gainer in the Sensex basket, rising more than one per cent to Rs 984 apiece for the day on BSE.
Credit Suisse upgraded Sun Pharma to ‘outperform’ from ‘neutral’ and raised its target price to Rs 1,150 per share from Rs 950 apiece.
SBI Life Insurance
SBI Life Insurance was among the top laggards in the Nifty basket, declining more than one per cent to Rs 1,099.4 apiece on NSE.
Jefferies maintains a ‘buy’ rating on SBI Life with a revised target price of Rs 1,410 apiece against Rs 1, 580 apiece earlier.
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