Top Nifty gainers & losers: BPCL, Adani Enterprises shine, HCL Tech, LTIMindtree fall

The record rally continued on the second day as the market extended its winning run on the sixth straight session on December 5 with Nifty comfortably closing above the 20,800 mark. Despite weak global cues, the benchmark indices started at fresh record highs and extended the gains as the day progressed with some profit booking at mid-session, but final-hour buying helped to close near the day’s high. At close, the Sensex was up 431.02 points or 0.63 percent at 69,296.14, and the Nifty was up 168.30 points or 0.81 percent at 20,855.10. 

Adani Enterprises Ltd: The Adani flagship firm soared 17 percent to Rs 2,959 on December 5 after a Bloomberg report said a US agency International Development Finance Corp (DFC) found the accusations against the Gautam Adani-led conglomerate to be irrelevant. A senior US official affirmed that the US government considered Hindenburg Research’s allegations of corporate fraud against Adani inconsequential.

Adani Ports and Special Economic Zones Ltd: Shares of the port major surged 15.3 percent to Rs 1,013 on December 5 after a Bloomberg report suggested that International Development Finance Corp saw the Hindenburg report as inconsequential. The stock has zoomed 144 percent from its 52-week low of 395.10, touched earlier this year in February.

Power Grid Corp Ltd: Shares of the company rose 4.4 percent to Rs 222 on December 5, rallying for the third day in a row. Recently, its board approved a proposal to invest about Rs 367 crore in electricity transmission projects.

NTPC Ltd: Shares of the company nearly 4 percent to Rs 285, surging for the seventh trading session in a row. The gain comes after the S&P BSE Power index surged 5 percent and hit a new high of 5,384.21 in Tuesday’s intra-day trade.

BPCL Ltd: Shares of the petroleum major gained 2.3 percent to Rs 472, rallying for the seventh day in a row. The surge comes after oil prices fell on concern about a drop in demand and on continued uncertainty about the depth and duration of OPEC+ supply cuts.

LTIMindtree Ltd: Shares of the L&T group company fell 1.6 percent to Rs 5,487, snapping its two-day gaining streak on the bourses.

HCL Tech Ltd: Shares of the IT major fell 1.5 percent to Rs 1,317 with its UK-arm set to offload an entire 49 percent stake in a US-based State Street joint venture (JV). HCL Tech Investments UK, the step-down wholly-owned subsidiary of HCL Tech, signed a memorandum of understanding (MoU) with its joint venture partner State Street International Holdings to sell an entire 49 percent stake in the JV to State Street for $170 million plus net book value.

HUL Ltd: Shaes of FMCG bellweather fell 1.5 percent to Rs 2,563 on December 5, trading in red after 4 sessions on the bourses. Recently, the company decided to split its beauty and personal care (BPC) segment into two in a bid to fight direct-to-consumer and digital-first brands.

Divi’s Laboratories Ltd: The pharma major fell 1.5 percent to Rs 3,741, snapping a three-day gaining streak on the bourses. As many as three lakh shares changed hands as against the 4 lakh shares on the bourses.

Eicher Motors Ltd: Shares of the company fell 1 percent to Rs 4,136, a day after the stock ralled close to 8 percent.