Top Gainers & Losers: These two FMCG giants buck negative trend, Hindalco drops 2%

Top Gainers and Losers: Equity benchmarks indices Sensex and Nifty snapped a two-day winning streak to close at 57,628.95 and 16,988.40 respectively. Most of the sectoral indices traded in line with the benchmarks wherein metal, realty and IT were among the top losers. While, the broader indices underperformed and shed nearly a per cent each.

The 30-share BSE Sensex declined 360.95 points or 0.62 per cent to settle at 57,628.95. The NSE Nifty gained 111.65 points or 0.65 per cent to end at 16,988.40.

Hindustan Unilever (HUL) led the NSE Nifty 50 gainers' chart, followed by BPCL, ITC, Grasim, and Kotak Mahindra Bank.

On the flip side, Bajaj Finserv, Adani Enterprises, Bajaj Finance, Hindalco, and Tata Steel were among the major laggards.

“Mixed global cues are keeping the participants on the edge and it might continue in near future, in absence of any major domestic event. Amid all, we are expecting some respite in the Nifty index however the view would negate if it fails to hold 16,800 levels. Meanwhile, the focus should be more on risk management,” said Ajit Mishra, VP - Technical Research, Religare Broking Ltd.

Check all the market action of March 20 

Here are some blue-chip stocks that saw maximum buzz today:

HUL

FMCG company, HUL’s stock climbed by Rs 61.50 or 2.51 per cent and settled at Rs 2,508.90 apiece on NSE.

Pic: NSE 

Brokerage firm Prabhus Lilladher has given an ‘accumulate’ call on shares of HUL for a target price of Rs 2,800 apiece. (11.6 per cent upside)

According to the brokerage, HUL’s long-term focus would remain on driving profitable volume-led growth by innovation and premiumisation. It also believes that the gross margins may improve sequentially going ahead

ITC 

ITC stock gained 0.85 per cent or Rs 3.20 and settled at Rs 378.75 on Monday’s closing. 

Pic: NSE 

Brokerage firm Phillip Capital has maintained a 'buy' on shares of the cigarette-to-hotel conglomerate company for a target price of Rs 475 apiece. (25.4 per cent upside)

Philip Capital expects ITC’s cigarette business volumes to grow in FY24 along with Cyclical / Commodity business growth. 

Hindalco

Shares of Hindalco cracked 2.63 per cent or Rs 10.45 at Rs 386.25 apiece on NSE. 

Pic: NSE 

Brokerage firm Motilal Oswal has given a ‘buy’ call on Hindalco for a target of Rs 570 apiece (47.5 per cent upside).

The brokerage is confident about the company’s growth in the long term.

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