Top Nifty gainers and losers at mid-day: Hero Moto, M&M gain, Adani Ports, Nestle dip

The equity benchmark gained for a second straight session on November 29, with the Nifty surpassing the 20,000 level for the first time since September 18 on positive global cues and gains in heavyweights such as HDFC Bank, Infosys and Reliance Industries (RIL). The market optimism was further buoyed by dovish remarks from US Federal Reserve official Christopher Waller, suggesting a potential interest rate cut as early as March 2024 if inflation continues to decline. At 12:29pm, Sensex was up 488.02 points or 0.74 percent at 66,662.22, and the Nifty was up 145.50 points or 0.73 percent at 20,035.20. About 1,766 shares advanced, 1,379 shares declined, and 87 shares unchanged.

Hero Motocorp Ltd: Shares of the two-wheeler major rose over 2 percent to Rs 3,723, rallying for the second day in a row. The surge comes after the automobile industry reached a new milestone with vehicle sales climbing to 37.93 lakh, a 19 percent increase from last year’s 31.95 lakh. Significant growth was observed in the two-wheeler clocking an increase of 21 perceent on-year.

Mahindra and Mahindra Ltd: Shares of the four-wheeler and tractor maker gained 2.5 percent to Rs 1,604, rallying for the fourth straight trading session after FADA showed that the automobile industry reached a new milestone with vehicle sales climbing to 37.93 lakh, a 19 percent increase from last year’s 31.95 lakh.

Wipro Ltd: Shares of the IT major gained 2.3 percent to Rs 405 after the company announced it has launched a continuous compliance solution built on Amazon Security Lake in collaboration with Amazon Web Services (AWS). This solution is designed to equip enterprises with advanced capabilities to meet compliance requirements.

Tech Mahindra Ltd: shares of the company zoomed nearly 2 percent to Rs 1,225 on November 29, extending gains for the second day in a row. Recently, it collaborated with Amazon Web Services (AWS) to build a sports cloud platform for sporting enthusiasts worldwide. Tech Mahindra and AWS will offer a comprehensive digital platform to sports organizations, offering use cases related to content and community engagement, customer data management and audience segmentation, and sports analytics.

Britannia Industries Ltd: Shares of the FMCG major gained 1.8 percent to Rs 4,800 on November 29, extending gains for the second day in a row. As many as 2 lakh shares changed, topping the 1-week average of 1 lakh shares.

ONGC Ltd: Shares of the oil and gas major fell 1 percent to Rs 193 on November 29, becoming the top loser on the Nifty index. Recently, ONGC signed deals to sell about 4.5 million tonnes of crude oil each to Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) in which it will sell crude oil it produces from Mumbai offshore fields at a premium to international benchmark Brent.

Coal India Ltd: Shares of the company fell 0.5 percent to Rs 340 on November 29. About 91 lakh shares changed hands on the bourses, beating the one-week average of 84 lakh shares.

Adani Enterprises Ltd: Shares of the ports-to-power conglomerate fell close to 0.5 percent to Rs 2,412 after the counter fell to profit-booking. The drop comes after the stock gained nearly 9 percent on November 28. Recently, the Apex court reserved its order to probe the conglomerate based on allegations of fraud and stock manipulation levelled by a US short-seller.

Adani Ports and Special Economic Zones Ltd: Shares of the port major fell 0.5 percent to Rs 844, snapping its three-day gaining streak on the bourses. Volumes were low as 54 lakh shares changed hands as against the 1-week average of 72 lakh shares on the exchanges.

Nestle India Ltd: Shares of the Maggi-maker fell a marginal 0.4 percent to Rs 24,119 on November 29. Recently, the parent company said India and China are key coffee markets for Nestle SA, with the food giant bullish on the outlook for consumption growth in the world’s most populous countries, according to the global head of strategy.