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The markets extended loss and ended in the red for the second straight session. The Sensex fell 1,258 points, or 1.6%, closing the day at 77,965, while the Nifty declined 382.95 points, or 1.6%, ending at 23,621.80. ITC is among the top index losers followed by metals, power and select banks. However, some stocks saw significant gains despite the negative sentiment-
Here’s why these 5 stocks up in a falling market
Apollo Hospitals
Apollo Hospitals is among the top gainers on the Nifty 50. It is up 1.7% at Rs 7,429.15. Hospital stocks have seen an uptick in prices as India reported 3 confirmed cases of HMPV. 2 of these cases have been confirmed in Karnataka and one was reported in Gujarat. Even other hospital stocks like Narayan Hrudalaya and Rainbow Children’s Medicare saw a sharp surge in trade today.
Tata Consumer Products
This FMCG play from the Tata Group held on to gains despite the weak market sentiment on Monday, rising 1.12% to end at Rs 950. The stock has rallied 5.6% in the last five trading sessions. It is among the few FMCG stocks that bucked the trend despite the 1.19% slide seen in the Nifty FMCG Index. As reported by Financial Express.com in December, the company plans to double the number of beverage vending machines to about 4,000 (from over 2,000 machines now) by the end of FY25. It is targeting the top six metros including Mumbai, Delhi-NCR, Bengaluru, Hyderabad, Chennai and Pune for its vending business.
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Tracking buzzing stocks: Tata Motors, Adani Enterprises among top gainers; PowerGrid, JSW Steel Among the Top Losers on December 24 – Check complete list here
Titan
Titan closed the day with 0.72% gains at Rs 3476.5 after intra-day gains of over 2%. This is on the back of 23% year-on-year growth in Q3 FY25 business. According to the company, festive demand for the jewellery business remained healthy, with high single-digit growth in new buyers. The company’s plain gold segment grew 24% YoY while coin sales were up 48% YoY. The studded range grew 21% YoY. The Tata Group stocks are also in focus as the Chief Minister of Assam Himanta Biswa Sarma met Tata Sons Chairman N. Chandrasekaran in Mumbai today. The Chief Minister termed the meeting as fruitful.
HCL Technologies
HCL Technologies ended in the green despite the overall market closing in the red. The stock has risen 2.5% in the past five trading sessions. It has given a return of 1.35% in the past one month and 27% in the last six months. The IT stocks are in focus ahead of the Q3 earnings next week. The depreciation in the rupee against the dollar is also expected to boost IT company earnings. Analysts expect HCL Tech to clock around 4% revenue growth sequentially.
ICICI Bank
Despite the Nifty Bank index dropping more than 2%, ICICI Bank closed the day 0.08% higher at Rs 1,266. Morgan Stanley is Overweight on the stock along with a few others including RIL and HAL. These stocks are part of the 10-company-long focus list for Morgan Stanley. The focus list comprises stocks from financials, consumer discretionary, industrials, and technology.
Conclusion
All in all, these index gainers have bucked the overall market trend and closed higher on the back of strong business fundamentals. Weak rupee, defensive investment strategies and focus on likely improvement in core economic factors also contributed to the gains. All eyes are now on the Q3 earnings that are due next week.
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