Top stock movers — Reliance Industries, Future Retail, Wipro, Asian Paints, IDBI Bank, Bharat Dynamics, Future Consumer and more
- Indian stock markets trade lower on Wednesday, extending the sell-off seen across global markets.
- These were the top losers and gainers in the Nifty pack.
- These are the top stocks that are buzzing in trade today.
- Check out the latest news and updates on Business Insider.
The equity benchmark index Sensex tumbled over 300 points in early trade; while the Nifty was down nearly 80 points as of 10:05 am.
These were the top losers and gainers in the Nifty pack:
*as of September 9, 9:45 am
|Top Nifty Gainers||Top Nifty Losers|
|Reliance Industries Limited||Coal India|
These are the top stocks that are buzzing in trade today:
AstraZeneca India tank 11%
The shares of AstraZeneca India were down 10% after the late-stage studies of its COVID-19 vaccine were put on a temporary hold as the company is investigating if the patient who suffered serious side effects had anything to do with their vaccine trial shots.
The IT major Wipro was the top gainer in the Nifty pack. The shares of Wipro were up2% despite the volatility in the market. The company has announced its plans to set up a digital innovation hub at Dusseldorf in Germany, which it said would serve as its major’s flagship centre in Europe.
Reliance Industries shares rise after Silver Lake investment
The shares of RIL were trading nearly percent higher after the company announced that its subsidiary Reliance Retail had raised a $1 billion investment from Silver Lake. With the investment, Silver Lake takes up 1.75% equity in Mukesh Ambani’s retail venture.
Bharat Dynamics shares trade in red for the second day
The shares of Bharat Dynamics were trading 4% lower for the second day in a row after the government announced that it is looking to sell over 2.74 crore shares of the company at a floor price of ₹330 apiece. Although its offer for sale received an overwhelming response on day one and was subscribed 1.40 times by non- retail investors.
Future Consumer shares down 2%
The shares of Kishore Biyani led Future Consumer were down 2% after the company reported ₹68.4 crore loss for the first quarter ended June 30. The overall revenue was down 63.7% to ₹380.5 crore.
Other Future Group subsidiaries are also trading lower today - Future Retail down 5%, Future Lifestyle Fashions down 5%, among others.
IDBI Bank was down 2%
The shares of IDBI Bank were down 2%. The bank sold the remaining 1 million shares amounting to 0.21% stake in the National Stock Exchange of India.
Asian Paints among top Nifty gainers
The shares of India’s largest paint manufacturer was up 0.75%. This after the brent crude slipped below $40 for the first time since June 30. Brent crude is one of their key ingredients in the manufacturing of oil paints.
SEE ALSO: Reliance Retail raises $1 billion from Silver Lake valuing the chain at $57 billion
Top stocks to watch— RIL, Astrazeneca, Future Retail, Future Consumer, TeamLease, Spicejet, Asian Paints, Bharat Dynamics and more