Top Nifty gainers and losers at mid-day: Apollo Hospitals soars, SBI Life, NTPC down

The equity benchmarks were trading higher at noon on November 3 on strong global cues following dovish comments from Federal Reserve chairman Jerome Powell, which triggered expectations of an end to the US central bank’s rate-hike cycle. A fall in the price of crude and cooling US bond yields also aided sentiment. At 12.15 pm, the Sensex was up 346.46 points or 0.54 percent at 64,427.36, and the Nifty was up 114.40 points or 0.60 percent at 19,247.70. About 2,156 shares advanced, 971 declined and 89 remained unchanged.

Apollo Hospitals Enterprises Ltd: Shares of the healthcare major zoomed 5 percent to Rs 5,132 , extending gains for the second day. As many as 8 lakh shares changed hands, more than double the one-week average of 3 lakh.

Tata Motors Ltd: Shares of the automobile major rose 2.7 percent to Rs 653. The surge comes after multiple brokerages maintained their bullish stance on the scrip after the company declared its Q2 results. The Nexon-maker swung back into profit after reporting a net loss of Rs 945 crore in the same period of the previous year.

Eicher Motors Ltd: Shares of the Royal Enfield maker darted over 2 percent to Rs 3,421. In October, the company reported a 3 percent increase in sales YoY. VE Commercial Vehicles (VECV), a joint venture between Volvo Group and Eicher Motors, posted a 24 percent growth in total sales at 7,486 units in October.

Adani Ports and Special Economic Zones Ltd: Shares of the port major rallied over 2 percent to Rs 792, extending gains for the second day. The surge comes after the company handled 37 MMT of total cargo in October 2023, implying a YoY growth of 48 percent.

JSW Steel Ltd: The steel major was trading a percent higher at Rs 744, gaining for the second day.  About 11 lakh shares changed hands against the one-week average of 15 lakh.

SBI Life Insurance Company Ltd: Shares of the insurance major fell over 0.5 percent to Rs 1,336 on November 3.

Dr Reddy’s Laboratories Ltd: The pharma major fell 0.5 percent to Rs 5,300, extending losses for the third day.  The drop comes after brokerages maintained a cautious stance despite the company’s Q2 recovery. Kotak Institutional Equities and Citi have “sell” calls on the stock, while Nuvama has a “hold” recommendation.

NTPC Ltd: Shares of the PSU company fell o.3 percent to Rs 243 on November 3. Volumes were low as 37 lakh shares changed hands against the 1-week average of 80 lakh shares.

Bajaj Finance Ltd: Shares of the company fell 0.5 percent to Rs 7,410 on November 3, extending losses for the sixth session in a row.

Nestle India Ltd: The FMCG stock traded 0.3 percent lower at Rs 24,022 on November 3.