Nifty, Sensex Gainers & Losers: The Indian markets recovered most of their intra-day losses to close modestly lower on Tuesday amid buying in index majors, such as Tata Consultancy Services, despite lackluster global cues.

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After tumbling over 700 points intra-day, the BSE Sensex clawed back lost ground on last-minute buying in index heavyweights, as it closed 0.17 per cent lower to 61,702.29. While NSE Nifty dipped 35.15 points or 0.19 per cent to end at 18,385.30 at the market close.

Tata Motors led the Sensex losers' list followed by Hindustan Unilever, Bharti Airtel, M&M, NTPC, Maruti Suzuki, L&T and HDFC Bank. In contrast, Tata Consultancy Services, Reliance Industries, UltraTech Cement, IndusInd Bank, Axis Bank, and ICICI Bank were among the prominent winners.

Below are three heavyweights that closed as top gainers/losers on Tuesday

Tata Consultancy Services (TCS): Buy – Target: Rs 3,450; Upside: 6.5%

Shares of Tata Consultancy Services (TCS) recovered yesterday’s losses as it became a top Nifty and Sensex gainer on Tuesday. The stock closed over 1 per cent up to Rs 3,242 per share on the NSE.

Kawaljeet Saluja, Research Analyst, Kotak Securities expects a slowdown in global IT services growth in CY2023, which will feed into slower growth in FY2024 for Indian IT. However, TCS will comfortably outpace global IT spending and its business is well-sorted, the analyst at Kotak said.

“TCS’ service line revenue mix between discretionary and run-the-business (RTB) services mirrors global IT spending. And its diversified presence across verticals, and ability to drive transformation agenda is impressive,” Saluja said, maintaining ADD rating with target of Rs 3,450 apiece.

Axis Bank: Buy – Target: Rs 1130; Upside: 19%

Shares of Axis Bank have closed among top Nifty and Sensex gainers on Tuesday. The stock surged over 0.5 per cent to Rs 952.15 per share on the NSE.

"Profit accretion will be self-sufficient to fund organic growth and there is no intention to raise capital at least till Citi acquisition or sometime later," Kunal Shah, Research Analyst, ICICI Securities said in a report on Axis Bank, maintaining a BUY rating with a target price of Rs 1,130 per share.

SBI Life Insurance: Buy – Target: Rs 1,600; Upside: 30%

Shares of SBI Life Insurance closed as top Nifty loser on Tuesday. The stock dipped over 3 per cent to Rs 1,229.40 apiece on the NSE.

"SBI Life Insurance has witnessed strong traction in premium growth across all products segments with agency and banca channel contributing to overall growth in FY22," Nitin Aggarwal, Research Analyst at Motilal Oswal, said, maintaining BUY rating with a target of Rs 1,600 per share.

List of top gainers and losers on Nifty and Sensex

Nifty50 Top Gainers:

1) Adani Ent shares ended at Rs 4,165.00, up over 2 per cent on the NSE from Monday’s closing price.

2) TCS shares ended at Rs 3,242.00 up over 1 per cent on the NSE from Monday’s closing price.

3) Reliance shares ended at Rs 2,619.95, up around 1 per cent on the NSE from Monday’s closing price.

4) Axis Bank shares ended at Rs 952.15, up over 0.5 per cent on the NSE from Monday’s closing price.

5) IndusInd Bank shares ended at Rs 1,231.05, up over 0.5 per cent on the NSE from Monday’s closing price

Nifty50 Top Losers:

1) SBI Life shares ended at Rs 1,229.40 down over 3 per cent on the NSE from Monday’s closing price.

2) Eicher Motor shares ended at Rs 3,313.80, down over 2 per cent on the NSE from Monday’s closing price.

3) UPL shares ended at Rs 754.90 down around 2 per cent on the NSE from Monday’s closing price.

4) Tata Motors shares ended at Rs 409.95, down around 2 per cent on the NSE from Monday’s closing price.

5) Hindustan Unilever shares ended at Rs 2,675.00 down over 1.5 per cent on the NSE from Monday’s closing price.

Sensex Top Gainers:

1) TCS shares ended at Rs 3242.90, up over 1 per cent on the BSE from Monday’s closing price.

2) Reliance shares ended at Rs 2621.15, around 1 per cent on the BSE from Monday’s closing price.

3) UltraTech Cement shares ended at Rs 7108.90, up 0.5 per cent on the BSE from Monday’s closing price.

4) IndusInd Bank shares ended at Rs 1227.95, up over 0.4 per cent on the BSE from Monday’s closing price.

5) Axis Bank shares ended at Rs 950.05, up over 0.4 per cent on the BSE from Monday’s closing price.

Sensex Top Losers:

1) Tata Motors shares ended at Rs 410.60, down by around 2 per cent on the BSE from Monday’s closing price.

2) Hindustan Unilever shares ended at Rs 2674.30, down over 1.5 per cent on the BSE from Monday’s closing price.

3) Bharti Airtel shares ended at Rs 827.55, down around 1.5 per cent on the BSE from Monday’s closing price.

4) M&M shares ended at Rs 1273.80, down over 1 per cent on the BSE from Monday’s closing price.

5) NTPC shares ended at Rs 169.70, down over 1 per cent on the BSE from Monday’s closing price.