Top 5 stocks of the day: Adani Enterprises, Adani Ports, ITC, Bajaj Auto, and Cipla are the top five gainers on the Nifty50. Conversely, Hindalco, JSW Steel, Tata Steel, LTIM, and Tech Mahindra were the biggest losers. IT stocks dropped as a result of negative global sentiment brought on by US jobs data and US Federal Reserve meeting minutes, which both lowered expectations for interest rate cuts in the near future. It should be mentioned that following a record rally over the previous two months, domestic markets have been losing ground since Tuesday due to selling pressure. Analysts predict that the benchmark indices will see more consolidation in the near future because the previous rally took into account all of the positive developments.
Nifty and Sensex Update
The Nifty was down 139.60 points, or 0.64 percent, at 21,526.20, and the Sensex was down 535.88 points, or 0.75 percent, at the close. 1,917 shares increased, 1,390 shares decreased, and 79 shares remained unchanged. Gainers continued to benefit from market breadth due to the outperformance of midcaps.As global prices fell, metals stocks suffered, and IT companies suffered as a result of an increase in US bond yields. In a sluggish market, Adani Group stocks shone, rising 1–10% after the Supreme Court rejected arguments regarding the Adani-Hindenberg dispute.
Top 5 stocks of the day
| Name of companies | Change | Volume |
| Bajaj-Auto | 4.55 | 12,56,275 |
| Adani Enterprises | 2.48 | 1,97,25,411 |
| Adani Ports | 1.58 | 3,30,60,778 |
| Cipla | 1.56 | 23,57,093 |
| ITC | 1.51 | 2,40,36,012 |
Non-banking financial companies (NBFCs) focusing on gold loans
Despite fierce competition from banks, non-banking financial companies (NBFCs) that specialise in gold loans have managed to hold onto a fairly stable market share. Due to this, along with the backing of robust capitalization, a keen emphasis on risk management, and robust profitability, their credit profiles have remained steady. Three factors have contributed to the rise in the assets under management (AUM) of non-bank financial institutions (NBFCs) offering gold loans: maintaining a stable customer base; concentrating on small and mid-sized loans; and broadening their customer base through branch network expansion.
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