Gainers & Losers: Key Stock Movements on August 20

On August 20, the Indian stock market closed with a positive tone, as benchmark indices Nifty and Sensex showed robust gains, largely driven by bank and IT stocks. Investors are keenly eyeing the Federal Reserve’s July policy meeting minutes and Jerome Powell’s forthcoming speech at the Jackson Hole symposium, which are expected to provide insights into U.S. interest rates.

At the end of the trading session, the Sensex surged by 378 points (0.5%) to reach 80,803, while the Nifty climbed 126 points to close at 24,699. The market breadth was positive with 2,151 shares advancing, 1,496 shares declining, and 86 shares remaining unchanged.

Top Gainers of the Day

1. Allcargo Logistics | CMP: ₹67.2 | +9%

Allcargo Logistics saw its shares soar over 9%, driven by a strong business update for July, which excited investors and boosted confidence in the company’s performance.

2. Angel One | CMP: ₹2,650 | +13%

Angel One experienced a remarkable gain of over 13% on heavy trading volumes. The stock continued its upward momentum for the fourth consecutive session, with more than 1 crore shares traded on the BSE and NSE, significantly higher than its one-month average of 11 lakh shares.

3. Poly Medicure | CMP: ₹2,196 | +3%

Poly Medicure shares rose by over 3% following a report from CNBC-TV18 that the company has initiated a Qualified Institutional Placement (QIP) to raise ₹1,000 crore. This move is expected to dilute the company’s equity by 5.54% relative to its pre-issue capital.

4. Sequent Scientific | CMP: ₹163 | +3.6%

Sequent Scientific shares increased by 3.6% after receiving prequalification (PQ) approval from the World Health Organization (WHO) for its Albendazole Active Pharmaceutical Ingredient (API).

5. Nucleus Software Exports | CMP: ₹1,410 | +20%

Nucleus Software Exports hit the upper circuit with a 20% rise, closing at ₹1,411 per share. The surge came as the company announced plans to consider a buyback of its equity shares, which would be its third buyback following those in 2017 and 2021.

6. IndusInd Bank | CMP: ₹1,382 | +2.6%

IndusInd Bank shares gained 2.6% after the Reserve Bank of India (RBI) approved its plan to establish a wholly-owned asset management subsidiary. Nomura viewed this development positively, highlighting the bank’s entry into direct para-banking, which could set a trend for other smaller banks.

7. Tech Mahindra | CMP: ₹1,629 | +2%

Tech Mahindra shares rose by over 2% after the company’s management approved the sale of 103 acres of land in Hyderabad for ₹535 crore, generating positive investor sentiment.

8. KEI Industries | CMP: ₹4,700 | +8%

KEI Industries saw nearly an 8% rise in its share price after UBS, an international brokerage, initiated coverage with a bullish outlook. The brokerage cited favorable demand-supply dynamics as a key factor benefiting industry leaders like KEI Industries.

Top Losers of the Day

1. Mazagon Dock Shipbuilders | CMP: ₹4,297 | -9%

Mazagon Dock Shipbuilders witnessed a sharp decline of 9% after ICICI Securities reiterated its ‘sell’ recommendation on the stock. The brokerage anticipates a potential downside of around 77% for the company’s share price.

2. Ola Electric Mobility | CMP: ₹137.80 | -6%

Ola Electric Mobility shares dropped nearly 6%, trading 14% lower from the record high of ₹157.4 reached earlier in the day on the NSE. Despite this dip, the stock has more than doubled in value since its listing, with a 107% increase from its issue price of ₹76.

By monitoring these key stock movements, investors can gain insights into the performance and potential future trends in the market. Keep an eye on these companies as they continue to navigate the evolving economic landscape.