Top Nifty gainers and losers at mid-day: BPCL, HDFC Life rise, UPL, Maruti down

Positive global cues and across-the-board buying lifted Indian equity benchmarks on October 17 morning. At mid-day, the Sensex was up 314.05 points or 0.47 percent at 66,480.98, and the Nifty was up 101.50 points or 0.51 percent at 19,833.30. About 2,091 shares advanced, 1,027 declined and 131 shares remained unchanged.

HDFC Life Insurance Company Ltd: The shares of the insurance major traded 2.3 percent higher at Rs 644, extending gains for the sixth day in a row. Despite the insurer missing estimates for the September quarter, analysts remained bullish on the company because of product launches, granular growth and support from parent HDFC Bank.

Power Grid Corporation Ltd: The stock, which touched a 52-week high, was up 2.8 percent at Rs 208 at mid-day, extending gains for the sixth consecutive session. The Volumes were low as 87 lakh shares changed hands as against the previous day’s 2 crore shares. 

BPCL: The oil major traded 2.4 percent higher at Rs 356, snapping a two-day losing streak after the benchmark Brent crude prices steadied above $90 a barrel. Investors were waiting to see if the Israel-Hamas war escalates further.

Tata Consumer Products Ltd: The shares of the FMCG giant rose 2 percent to Rs 924, extending gains for the second day. Over the last two sessions, the stock has gained almost 5 percent. As many as 18 lakh shares changed hands against the 16 lakh shares exchanged on October 16.

SBI Life Insurance Ltd: The stock traded 2 percent higher at Rs 1,347, gaining for the sixth consecutive day. Volumes were low as 5 lakh shares exchanged hangs against a one-week average of 10 lakh.

UPL Ltd: The agrichemical maker slid 0.6 to Rs 627, snapping its two-day gaining streak. Volumes were significantly lower as 7 lakh shares changed hands against a one-week average of 23 lakh.

Tata Motors Ltd: The stock was down 0.6 percent at Rs 662, extending losses for the second day. The Tata group company recently announced that it agreed to sell a 9.9 percent stake in IPO-bound Tata Technologies for Rs 1,613.7 crore. The stake will be purchased by TPG Rise Climate SF Pte Ltd, a climate-focused private equity fund, and Ratan Tata Endowment Foundation, for an equity valuation of Rs 16,300 crore.

L&T Ltd: Shares of the construction major fell a percent to Rs 3,075, breaking a two-day winning streak. Volumes were low as 6 lakh shares changed hands against a one-week average of 17 lakh.

Maruti Suzuki India Ltd: Shares of India’s largest automobile player fell 0.3 percent to Rs 10,709 after the board approved issue of preference shares to Suzuki Motor Corp worth over Rs 12,000 crore.

ONGC Ltd: The PSU was trading 0.1 percent lower at Rs 186 at mid-day, snapping its three-day gaining streak. Only 23 lakh shares changed hands against the 1-week average of 1 crore shares.