NIFTY-50

Stock Market News: Nifty 50 Stocks Decline for the Third Day in a Row as Tata Motors, JSW, And Others Struggle

 

The share market today has again seen a decline in their stock value for the third consecutive day. Both the indices Sensex and NIFTY 50 are going in red with a fall of 485 (-0.60%) and 136 (-0.56%) points respectively. This fall has been recorded due to concerns from both global and domestic factors. 

Investors and traders are cautious ahead of the US Federal Reserve’s policy announcement, then could indicate future interest rate hikes. Experts comment that the Fed might cut more rates slowly in the future and possibly raise the long-term rates to 3%. Additionally, US Dow Jones has fallen for straight 9 days in a row which is the longest drop since 1978. The rise of US Treasury Bond Rates along with the US dollar getting stronger are making investors nervous worldwide.

Heavyweight stocks like HDFC Bank, ICICI Bank, and Axis Bank have pulled the Sensex down by more than 240 points. Other stocks that have pulled down in the NIFTY 50 are Tata Motors, Power Grid Corp, Bharat Electric, NTPC, Coal India, Hindalco, etc. losing up to 3% of their stock value from the previous closing.

Amidst the losses incurred because of national and international pressure, some of the companies have seen a surge of more than 1% in their stock price today.  Let’s check down at the share market live updates to have better clarity on stocks performing well today.

 

Dr Reddys Lab

 

Dr Reddy’s Lab is the only listed stock in NIFTY 50 that has seen a surge in the price of its stock by more than 2% from its previous closing price of Rs 1248. The stock has traded the whole day and went on a day high of Rs 1280.70 per stock price and is currently trading at an LTP of Rs 1276.10 and is expected to rise again till the market closes.

 

Trent 

 

The second on the list is Trent which is trading its stocks with a more than 2% surge in its price from the previous closing of Rs 6944. The stock went on a significant day high of Rs 7177 and is currently trading at Rs 7100.

 

Cipla Ltd

 

Cipla Ltd. in the pharmaceutical and drugs sector has again seen a 1.83% increase in its stock price from its previous closing of Rs 1450.85. The stock went up to a day high of Rs 1482.00 and it's currently at the LTP of Rs 1477.65. This stock has been doing moderately well for the second consecutive day and has also traded more than 2,019,068, which indicates the investor’s confidence in this stock price.

 

Wipro

 

The 4th on the list of NIFTY 50 today as of now is Wipro Ltd. which has increased its stock price to more than 1% from its last closing price of Rs 308.80. The stock went on a day high of  Rs 313.25 and is expected and currently trading at the LTP of Rs 312.75 per stock price. Till the end of the day, it is expected to cross the day high easily because of the company’s strong performance.

 

Other Stocks that have performed well

 

The other NIFTY Next 50 Companies that have done well today with more than 1% increase in their stock price are United Spirits, TVS Motors, and Zydus Life and only one banking sector has done well in NIFTY Bank is IDFC First Bank with a surge of 1.32% in its stock price.