Top Gainers and Losers on July 22: Eternal, Swiggy, NLC India, GMDC, MRPL, Paytm, Hitachi Energy among top gainers today
Though the markets started with a healthy upside, tracking strong gains from Wall Street, they couldn't sustain those levels due to weak support from select heavyweights, eventually dragging the Nifty 50 down to close with a cut of 0.12% at 25,060. The S&P BSE Sensex also closed with a mild 0.02% lower at 82,212 points.
Markets have remained in a tight range so far in July, largely with a negative bias, amid uncertainty over an interim trade deal between the US and India. According to market experts, if India doesn't secure a favorable deal with tariffs below 20 percent, it would be a short-term negative from a market perspective.
Negotiations between India and the US are still underway, and recent reports indicate that both countries are unlikely to strike a deal before August 1, when the reciprocal tariffs announced by Donald Trump are expected to take effect. However, there is still a possibility of another extension of the pause on tariffs, as the US has so far finalized trade deals with only four countries.
Treasury Secretary Scott Bessent said on Monday that the administration prioritizes the quality of trade agreements over their timing. He noted that President Donald Trump would decide whether to extend the deadline for countries making productive progress with Washington.
While the Indian stock market continues to trade in a tight range, several stocks have managed to finish with solid gains, with Eternal continue to emerge as the top performer for the second straight day in a row, gaining another 10.40% to ₹ 300 apiece as brokerage firms lifts the target price on the stock following the company's June quarter numbers, which showed a strong growth in its e-commerce segment.
The rally has spilled over its rival Swiggy shares, which ended with a gain of 6% as investors similar kind os results from the compnay
India Cements shares have also finished the session with a stellar gain of 8% at ₹ 371 apiece after Parent UltraTech Cement says rapidly integrating companys' operations, plans capex to drive efficiency.
It is Confident of reaching 1,000 rupees EBITDA/ton by fiscal year 2028 from current 400 rupees. Meanwhile GMDC and NLC India have gained 5% each after Latest data from China shows that the country boosted shipments of rare earth magnets in June, after a global supply squeeze that threatened factory closures and heightened trade tensions
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