Top gainers & losers on Nifty: Adani, Nestle stocks jump; Axis Bank, UltraTech tumble

Benchmark indices ended Wednesday’s volatile session in the red. The NSE Nifty 50 tumbled 92.65 points or 0.47 percent to 19,436.1 and the BSE Sensex plunged 286 points or 0.44 percent to close at 65,226.04.

Top Gainers: The top gainers on Nifty 50 were Adani Enterprises, Nestle India, Eicher Motors, Hindustan Unilever and HDFC Bank.

Adani Enterprises: Gautam Adani-led Adani Enterprises shares jumped  3.23 percent to close at Rs 2,464.3 after UAE-based International Holding Company (IHC) raised its stake in the company to over 5 percent.

Nestle India: The stock soared 3.03 percent to Rs 22,992.35 after the company said that it will consider the split of its existing equity shares on October 19 along with the second interim dividend and quarterly results announcement.

Eicher Motors: The shares gained 1.63 percent to Rs 3,406. The stock had tumbled nearly 3 percent on Tuesday to close at Rs 3,351.4.

Hindustan Unilever: The stock rose 1.61 percent to Rs 2,508.75. In the previous session, the stock closed marginally higher at Rs 2,468.9.

HDFC Bank: The shares gained 1.59 percent to Rs 1,532 after the bank reported a robust 57.7 percent growth in advances, growing to Rs 23.54 lakh crore from Rs 14.94 lakh crore last year.

Top Losers: The biggest laggards on the Nifty 50 were Axis Bank, UltraTech Cement, NTPC, State Bank of India and IndusInd Bank.

Axis Bank: The stock tanked 4.72 percent to Rs 991.9 and was the biggest loser on the Nifty 50.

UltraTech Cement: The stock tumbled 2.09 percent to Rs 8,131. Meanwhile, on Tuesday, the company informed exchanges that its subsidiary Star Cement entered into a cooperation agreement with Cemex UAE to recycle concrete waste.

NTPC: The stock sank 2.38 percent to Rs 235.45. On Tuesday, the company reported a substantial growth of 83 percent in coal production from its captive mines during H1 FY 2023-24, as compared to the corresponding period in the previous year.

State Bank of India: The stock plunged 2.94 percent to Rs 585.2. In the previous session, shares gained nearly a percent and closed at Rs 602.95.

IndusInd Bank: The stock slumped 2.33 percent to Rs 1,402. On Tuesday, the shares rose nearly half a percent to Rs 1,435.40.