The Indian market saw a mixed trading session on October 7, with several stocks outperforming amidst broader market volatility. Key gainers included ITC, Bharti Airtel, Trent, M&M, and Bajaj Finance, which managed to stay in the green despite market pressure. Here’s a closer look at these top performers:
- Trent surged 1.86% to close at ₹7,489.90, significantly higher from its previous close of ₹7,353.30. With a high of ₹7,503.90 during the day, the stock showcased positive momentum. The volume of shares traded stood at over 8.5 lakh with a value crossing ₹631 crore.
- M&M (Mahindra & Mahindra) witnessed a 1.48% rise, closing at ₹3,062.00. It reached a high of ₹3,066.95, continuing its upward trajectory and showing strength amidst the weak broader market. The stock’s traded volume crossed 2.7 crore shares.
- Bharti Airtel climbed 1.32% to ₹1,662.60, making a significant move from its previous close of ₹1,640.90. The telecom giant saw heavy trading volumes, with over 5 crore shares changing hands and a value crossing ₹893 crore.
- ITC closed at ₹510, up 1.28%, recovering from its previous close of ₹503.55. The stock reached an intraday high of ₹514.95, indicating a strong buying interest in the market. ITC had the highest trading volume among gainers, with over 16 crore shares traded.
- Bajaj Finance showed resilience and gained 0.67% to close at ₹7,260, marginally up from its previous close of ₹7,211.35. It reached a high of ₹7,324.00 during the day, with more than 9 lakh shares traded and a value of ₹679 crore.
Despite these gains, the broader market remained volatile, reflecting mixed sentiment across sectors.
Nifty at 24,800, Sensex Down 580 Points; IT Sector Outperforms
The Nifty closed at around 24,800, and the Sensex shed around 580 points on October 7, marking a weak close for Indian benchmark indices. While the overall market experienced a downturn, the IT index stood out as the sole outperformer, managing to stay in the green. However, the majority of sectoral indices, including PSU banks, healthcare, capital goods, realty, metals, power, oil & gas, media, and telecom, faced losses, declining between 1-3%.
Notable Nifty laggards included NTPC, Adani Ports, Adani Enterprises, Bharat Electronics, and Coal India. Meanwhile, top gainers ITC, Bharti Airtel, Trent, M&M, and Bajaj Finance demonstrated strong performance despite the market’s downturn.
Midcap and smallcap stocks also faced challenges, with the BSE Midcap index down by 2% and the Smallcap index dropping over 3%, indicating a broad-based selloff in these segments.
