Nifty, Sensex Gainers & Losers: HDFC Life, Tata Motors top NSE gainers; Nestle India down 1% - Should investors Buy, Sell or Hold?

Nifty, Sensex Gainers & Losers: The Indian markets took a breather after Thursday’s surge and ended almost on a flat note.  Meanwhile, selective buying in the index majors from across sectors combined with a recovery in the broader pack kept the participants busy.  

In a largely range-bound trade, the 30-share BSE Sensex climbed 20.96 points or 0.03 per cent to settle at 62,293.64, its fresh record closing high. Likewise, the NSE Nifty went up by 28.65 points or 0.15 per cent to end at 18,512.75.

With the benchmark at a record high, improvement in the broader participation would play a critical role in shaping the market trend, Ajit Mishra, VP - Technical Research, Religare Broking said, adding that the performance of the global markets will continue to weigh on the sentiment.

The market analyst recommends following the trend and focusing on identifying the themes which could unfold ahead along with the present leaders.

“Technically, the support for the Index is placed near 18250 and any move below the same will extend the fall till 18100 levels. Similarly on the higher side 18650 will be the immediate resistance and followed by 18800 levels,” Apurva Sheth, Head of Market Perspectives, Samco Securities said.

HDFC Life: ADD – Target: 630; Upside: 7%

Shares of HDFC Life closed as top Nifty gainer on Friday, up over 2.5 per cent to Rs 588 per share on the NSE as compared to 0.15 per cent rise in the benchmark index.

Shivaji Thapliyal, Head of Research & Lead Analyst at YES Securities said, “We maintain ‘ADD’ rating on HDFC Life with a target of Rs 630 apiece, implying over 7 per cent upside in the stock.” The analyst values the stock at 3.3x FY24 P/EV for an FY23E/24E/25E RoEV profile of 16.2/17.1%/17.2%

Tata Motors: BUY – Target Price: Rs 490; Upside: 13%

Shares of Tata Motors closed among top Nifty gainers today, up over 2.5 per cent to Rs 434.45 apiece on the NSE. Raghunandhan N L, Research Analyst at Emkay Global, in his report reaffirms BUY on the stock with a target price of Rs 490 per share, implying 13 per cent upside.

The analyst said, “We reduce FY23-25E consolidated EBITDA by 5-14 per cent and maintain positive stance on expectations of a sales upcycle across segments, aggressive cost savings and debt reduction.”

Nestle India: BUY – Target: Rs 23,550; Upside: 20%

Shares of FMCG major Nestle India closed as top Nifty and Sensex losers, down nearly 1 per cent to Rs 19,555 per share on the NSE. Domestic brokerage firm Sharekhan maintained a Buy on the stock with a target of Rs. 23,550, implying 20 per cent upside in the stock.

Nestle’s strong positioning in the domestic food market, innovative product portfolio and improving out-of-home consumption with a thrust on improving penetration in key markets is helping it to deliver consistent double-digit revenue growth for past few quarters, Sharekhan said in its report.

Nifty50 Top Gainers: 

1) HDFC Life shares ended at Rs 587.90, up over 2.5 per cent on the NSE from Thursday’s closing price. 

2) Tata Motors shares ended at Rs 434.45, up over 2.5 per cent on the NSE from Thursday’s closing price. 

3) Hero Moto shares ended at Rs 2,711.45, up around 1.5 per cent on the NSE from Thursday’s closing price. 

4) Coal India shares ended at Rs 231.60, up over 1 per cent on the NSE from Thursday’s closing price.

5) Reliance shares ended at Rs 2,612.75, up over 1 per cent on the NSE from Thursday’s closing price 

Nifty50 Top Losers: 

1) ICICI Bank shares ended at Rs 930.00, down around 1 per cent on the NSE from Thursday’s closing price. 

2) Nestle India shares ended at Rs 19,555.00, down around 1 per cent on the NSE from Thursday’s closing price. 

3) Kotak Bank shares ended at Rs 1,928.70 down around 1 per cent on the NSE from Thursday’s closing price. 

4) Titan shares ended at Rs 2,591.25, down around 0.7 per cent on the NSE from Thursday’s closing price. 

5) Britannia shares ended at Rs 4,165.05, down over 0.5 per cent on the NSE from Thursday’s closing price. 

Sensex Top Gainers: 

1) Reliance shares ended at Rs 2617.05, up over 1 per cent on the BSE from Thursday’s closing price. 

2) Wipro shares ended at Rs 402.65, up over 1 per cent on the BSE from Thursday’s closing price. 

3) Tech Mahindra shares ended at Rs 1079.90, up over 1 per cent on the BSE from Thursday’s closing price.

4) Axis Bank shares ended at Rs 887.65, up around 1 per cent on the BSE from Thursday’s closing price.

5) IndusInd Bank shares ended at Rs 1184.30, up around 1 per cent on the BSE from Thursday’s closing price 

Sensex Top Losers: 

1) Nestle India shares ended at Rs 19525.95, down over 1 per cent on the BSE from Thursday’s closing price. 

2) Kotak Bank shares ended at Rs 1928.45, down around 1 per cent on the BSE from Thursday’s closing price. 

3) ICICI Bank shares ended at Rs 930.40, down around 1 per cent on the BSE from Thursday’s closing price.

4) Titan shares ended at Rs 2595.60, down over 0.5 per cent on the BSE from Thursday’s closing price. 

5) HDFC Bank shares ended at Rs 1617.20, down over 0.5 per cent on the BSE from Thursday’s closing price.