Nifty, Sensex Gainers and Losers: Asian Paints, HUL end as top BSE, NSE gainers; SBI Life cracks more than 2% – Should you Buy, Sell or Hold?

The Indian equity benchmark Sensex declined over 215 points on Wednesday, weighed by losses in index heavyweight Reliance Industries, Bajaj Finserv, and Tata Steel after the Reserve Bank raised the key interest rate by 35 basis points.

Extending its losses for the fourth straight session, the 30-share BSE Sensex ended 215.68 points or 0.34 per cent lower at 62,410.68. Similarly, the broader Nifty fell 82.25 points or 0.44 per cent to 18,560.50.

NTPC was the top loser in the Sensex pack, shedding 2 per cent, followed by Bajaj Finserv, IndusInd Bank, Tata Steel, Reliance Industries, and Sun Pharma. On the other hand, Asian Paints, HUL, L&T, Axis Bank and ITC were among the gainers.

Hindustan Unilever (HUL): BUY – Target: 3,005; Upside:

Shares of HUL closed as top Nifty gainer, up around 2 per cent to Rs 2,707.00 per share on the NSE as compared to around 0.5 per cent decline in the Nifty index.

HUL remains preferred pick in the consumer good space because of its leading position in 85 per cent of the portfolio, gain in market share, expanded distribution reach of 9 million outlets, strong cash flow generation and consistent dividend payout, Sharekhan said in its comment on the stock.

The stock is trading at 53x/45x its FY2024/25E EPS. The brokerage maintains a Buy recommendation on the stock with a target price of Rs 3,005 per share, implying an 11 per cent upside.

Asian Paints: HOLD – Target: 3,450; Upside: 7%

Shares of Asian Paints closed as top Sensex gainer, up over 2 per cent to Rs 3226 per share on the BSE as compared to 0.34 per cent fall in the S&P BSE Sensex.

“We remain constructive on Asian Paint’s longterm prospects, given its market-leading position, superior brand recall, wide product offering, pricing power, robust distribution network, and entry into adjacencies,” Julius Baer Equity Research said, giving Hold rating with a target of Rs 3,450 per share.

SBI Life Insurance: BUY – Target: 1610; Upside: 28%

Shares of SBI Life Insurance closed as top Nifty gainer, down over 2 per cent to Rs 1,259.00 per share on the NSE as compared to 0.5 per cent fall in the Nifty Index.

“We see SBI Life’s margins being more resilient to competition as 80 per cent of its APE (Annual Premium Equivalent) will continue to be generated through channels with little or no competitors,” Supratim Datta, Research Analyst, Ambit Capital said maintaining Buy with target of Rs 1,610 apiece.

Nifty50 Top Gainers:

1) HUL shares ended at Rs 2,707, up around 2 per cent on the NSE from Tuesday’s closing price.

2) BPCL shares ended at Rs 335, up around 2 per cent on the NSE from Tuesday’s closing price.

3) Asian Paints shares ended at Rs 3,222.10 up around 2 per cent on the NSE from Tuesday’s closing price.

4) L&T shares ended at Rs 2,125, up 1.50 per cent on the NSE from Tuesday’s closing price.

5) Axis Bank shares ended at Rs 913, up around 1 per cent on the NSE from Tuesday’s closing price

Nifty50 Top Losers:

1) SBI Life shares ended at Rs 1,259, down 2.03 per cent on the NSE from Tuesday’s closing price.

2) NTPC shares ended at Rs 171.70, down 2 per cent on the NSE from Tuesday’s closing price.

3) Bajaj Finserv shares ended at Rs 1,606 down around 2 per cent on the NSE from Tuesday’s closing price.

4) Tata Motors shares ended at Rs 4,19.90, down around 2 per cent on the NSE from Tuesday’s closing price.

5) Bajaj Auto shares ended at Rs 3,635.05, down around 2 per cent on the NSE from Tuesday’s closing price.

Sensex Top Gainers:

1) Asian Paints shares ended at Rs 3226.65, up by 2.10 per cent on the BSE from Tuesday’s closing price.

2) HUL shares ended at Rs 2707.50, up 2.01 per cent on the BSE from Tuesday’s closing price.

3) L&T shares ended at Rs 2123.50, up 1.42 per cent on the BSE from Tuesday’s closing price.

4) Axis Bank shares ended at Rs 913, up around 1 per cent on the BSE from Tuesday’s closing price.

5) ITC shares ended at Rs 340.05, up around 1 per cent on the BSE from Tuesday’s closing price

Sensex Top Losers:

1) NTPC shares ended at Rs 171.80, down by 2 per cent on the BSE from Tuesday’s closing price.

2) Bajaj Finserv shares ended at Rs 1607, down around 2 per cent on the BSE from Tuesday’s closing price.

3) IndusInd Bank shares ended at Rs 1164.65, down around 2 per cent on the BSE from Tuesday’s closing price.

4) Tata Steel shares ended at Rs 111.25, down by 1.46 per cent on the BSE from Tuesday’s closing price.

5) Reliance shares ended at Rs 2649.90, down by 1.43 per cent on the BSE from Tuesday’s closing price.