Top Nifty gainers & losers at mid-day: HCL Tech, Infosys shine, BPCL, Cipla down

The dovish tone from US Fed sparked a rally in the global market, and Indian stocks were no exception to this. BSE Sensex and NSE Nifty jumped to fresh record highs, rising over 1 percent each. The strong surge in the benchmark indices came amid gains in banking and IT stocks. At 12:17 pm, the Sensex was up 833.89 points or 1.20 percent at 70,418.49, and the Nifty was up 230.90 points or 1.10 percent at 21,157.20. About 1920 shares advanced, 1243 shares declined, and 75 shares unchanged.

LTIMindtree Ltd: Shares of the Larsen and Toubro group company gained as much as 3.7 percent to Rs 5,937 on December 14, a day after they traded in the red. The surge comes after the FED signalled the 2 percent inflation target could be achieved earlier than estimated. 

Bajaj Finance Ltd: Shares of the company rose 3 percent to Rs 7,481 on December 14, a day after the stock fell 1 percent. Volumes were high as 11 lakh shares changed hands as against the 1-week average of 8 lakh shares on the exchanges.

HCL Tech Ltd: Shares of the company rose 3 percent to Rs 1,409 on December 14, snapping its two-day gaining streak on the bourses. The surge comes after investors cheered Fed’s decision to keep the interest rates unchanged, and hinted that the 2 percent inflation target could be achieved before the initial estimates.

Infosys Ltd: Shares of the IT company gained 2.8 percent to Rs 1,488 after the Fed kept interest rates unchanged. About 64 lakh shares changed hands, above the 1-week average of 62 lakh shares.

IndusInd Bank Ltd: Shares of the private lender gained 2.8 percent to Rs 1,548. Volumes were low as 18 lakh shares changed hands as against the 1-week average of 23 lakh shares on the exchanges.

HDFC Life Insurance Company Ltd: Shares fell 1.6 percent to Rs 687 on December 14, extending losses for the second day in a row.

Power Grid Corp Ltd: Shares of the company fell 1.5 percent to Rs 233 after investors rushed to book profits. This is because the stock was on a three-day gaining streak. Volumes high as 2 crore shares changed hands, matching its 1-week average on the bourses.

Cipla Ltd: Shares of the pharma major fell almost a percent to Rs 1,206 on December 14. Recently, the pharma player’s US subsidiary recalled one lot of its medicine to seal integrity issues. InvaGen Pharmaceuticals Incvoluntarily recalled one lot of its oral solution after it was found to have issues with the seal, which would allow for the powder to leak from the pouch.

BPCL Ltd: Shares of the oil and petroleum major declined nearly 1 percent to Rs 444. Recently, news agency Reuters reported that the refiner is looking to buy Venezuelan oil. The import of Venezuelan oil will not be a threat to BPCL’s Russian oil imports, the report further added.

Nestle Ltd: Shares of the Maggi-maker fell 0.6 percent to Rs 24,885 on December 14. Volumes were low as 40,000 shares changed hands as against the 1-week average of 62,000 shares.