Top Gainers & Losers: BPCL and Nestle India rally, IndusInd Bank cracks over 2%

BSE, NSE Gainers and Losers: A positive opening in the European market helped investor sentiments even as clouds hovered over the health of the global banking system amid Credit Suisse woes and bank failures in the US.

BSE, NSE Gainers and Losers: Sensex recouped its lost ground and closed 78 points higher on fag-end value buying in banking, energy, and financial stocks, Pic- Reuters

BSE, NSE Gainers and Losers: The domestic equity market on Thursday snapped a five-day losing streak as the benchmark Sensex recouped its lost ground and closed 78 points higher on fag-end value buying in banking, energy, and financial stocks.

A positive opening in the European market helped investor sentiments even as clouds hovered over the health of the global banking system amid Credit Suisse woes and bank failures in the US.

Halting its five-day losing streak, the 30-share BSE benchmark rose 78.94 points or 0.14 per cent to close at 57,634.84 points. The 50-share NSE Nifty advanced 13.45 points or 0.08 per cent to settle at 16,985.60 points. Equity benchmarks bounced back to end in the positive territory after trading lower for the most part of the volatile session.

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BPCL was the biggest gainer in the NSE Nifty 50 pack followed by HUL, Asian Paints, Nestle India, and Titan.

Conversely, Hindalco, Tata Steel, IndusInd Bank, JSW Steel, and HDFC Life Insurance were among the top losers.

Check all stock market update of March 16

Here are some blue-chip stocks that saw maximum buzz today:

BPCL

Shares of BPCL ended as top gainer on NSE, the stock climbed 6.02 per cent or Rs 19.90 at Rs 350.20 apiece on NSE

Pic: NSE

Brokerage firm Prabhus Lilladher is bullish on BPCL and has given a 'buy' call for a target price of Rs 420 apiece. (19.9 per cent upside)

The brokerage expects oil marketing companies to report profits of Rs 12,800 crore in Q4FY23, based on current marketing margin trends and stock performance to reflect improving fundamentals.

Nestle India

Food and beverage company Nestle India’s stock rose by Rs 411.65 or 2.29 per cent to settle at Rs 18,405 apiece on NSE.

Pic: NSE

Brokerage firm UBS has recommended 'Buy' on shares of Nestle India for a target price of Rs 23,000 apiece. (25 per cent upside)

According to the brokerage, Nestle India’s strong brand equity/leadership, focus on accelerating growth in rural markets, product innovation, and increased capital expenditure will drive the growth of the company.

IndusInd Bank

Shares of IndusInd Bank fell 2.27 per cent or Rs 23.70 at Rs 1,020.65 apiece on NSE.

Pic: NSE

Brokerage firm Sharekhan has given a 'Buy' call for a target price of Rs 1,400. (37.2 per cent upside).

The brokerage believes that IndusInd Bank has recovered from its past challenges and has been progressing well on guided lines.

The report stated that strong growth potential from a well-diversified loan book with a rising share of retail loans along with healthy capital ratios gives loan growth visibility which is a key positive.

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