Nifty 50 Top Gainers and Losers Today, July 24: HCL Tech, Wipro, Cipla Gain; Bajaj Finance, Eternal, Mahindra & Mahindra Decline

Indian equities traded in a narrow range on Friday as investors reacted to another busy day of corporate earnings, with stock-specific action taking centre stage. Rather than broad-based sector moves, trading was largely driven by individual company developments, earnings announcements and profit booking after recent rallies.

Technology stocks found support after recent weakness, while pharmaceutical, insurance and select FMCG names also attracted buying. On the other hand, financials, automobiles and a few consumer-facing stocks witnessed selling pressure as investors locked in gains and reassessed valuations following the latest earnings announcements.

Top Nifty 50 Gainers

Technology stocks staged a recovery after witnessing sustained selling over the past few sessions. HCL Technologies emerged as the top gainer on the benchmark, while Wipro also advanced as investors returned to select IT counters following the recent correction. The rebound came as market participants positioned themselves ahead of more quarterly earnings from the sector and looked for value after the recent decline.

Defensive sectors continued to remain in favour. Cipla attracted buying as investors preferred pharmaceutical stocks for their relatively stable earnings outlook, while HDFC Life Insurance extended gains on optimism around premium growth and business momentum. ITC also traded higher as investors rotated back into defensive FMCG names amid the mixed market sentiment.

Jio Financial Services ended among the day's gainers after recovering from Thursday's decline, supported by selective buying following recent volatility in the stock.

Top Nifty 50 Losers

Financial stocks remained under pressure, with Shriram Finance declining after the company announced its Q1 FY27 earnings. While the lender reported steady quarterly numbers, investors reacted to the results and management commentary by booking profits after the stock's recent run-up. Bajaj Finance also featured among the top losers as traders reduced exposure ahead of its own quarterly earnings, keeping the broader NBFC space under pressure.

Eternal witnessed profit booking after rallying sharply in the previous session on the back of its stronger-than-expected Q1 FY27 results. The stock had climbed more than 3% on Thursday following the earnings announcement, prompting investors to lock in gains after the recent rally.

The automobile space also saw some cooling off after outperforming earlier this week. Mahindra & Mahindra slipped as traders booked profits following its recent gains, while Tata Consumer Products gave up some of its recent advances amid mild selling in consumer-facing stocks. Bharti Airtel also ended lower as investors stayed cautious ahead of its quarterly earnings, with the telecom sector lacking fresh triggers during the session.

Midcap and Smallcap Movers

The broader market also witnessed stock-specific action despite the lack of strong directional movement in the benchmark indices.

Within the Nifty Midcap 100, Hero MotoCorp emerged among the top gainers after reporting a healthy set of June-quarter earnings. ICICI Lombard General Insurance and Tata Communications also advanced on stock-specific buying and expectations of resilient operational performance.

On the losing side, Oracle Financial Services Software, Lupin and Voltas featured among the biggest midcap losers as investors booked profits across select IT, pharmaceutical and consumer durable stocks.

In the Nifty Smallcap 100, Nuvama Wealth Management, Piramal Pharma and Whirlpool of India ended with gains on stock-specific buying. Meanwhile, PhysicsWallah, Crompton Greaves Consumer Electricals and Aegis Logistics were among the biggest losers as profit booking continued in parts of the broader market.

What Investors Should Watch

With the June-quarter earnings season gathering pace, corporate results are expected to remain the key driver of stock-specific action in the coming sessions. Investors will closely monitor management commentary on demand, margins and future guidance, while keeping an eye on global cues, crude oil prices and foreign fund flows for broader market direction.

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