Top Gainers of the Day – Infosys, Tech Mahindra, and Power Grid Lead on October 17, 2024

The Indian stock market witnessed a significant drop on October 17, 2024, with both benchmark indices closing in the red. The BSE Sensex slipped by 494.75 points (0.61%), ending at 81,006.61. Similarly, the Nifty50 index declined by 221.45 points (0.89%) to close at 24,749.85.

Amidst this decline, a few stocks stood out, reflecting gains due to positive investor sentiment and company-specific developments. Here are the top gainers for the day:

• Infosys Ltd: Infosys led the pack of gainers, driven by strong quarterly results and optimistic guidance. Infosys share price opened at ₹1,935.20, touched a high of ₹1,978.00, and closed at ₹1,974.55, reflecting a 2.84% rise. 
• Tech Mahindra Ltd: Tech Mahindra also performed well, registering a gain of 2.81%. Tech Mahindra’s share price opened at ₹1,660.70 and closed at ₹1,707.00, marking a strong recovery. 
• Power Grid Corporation of India Ltd: Power Grid saw a modest but significant gain, rising by 1.21%. Powergrid’s share price stock opened at ₹328.50, hit an intraday high of ₹331.90, and closed at ₹331.15. Positive 
• Larsen & Toubro Ltd: L&T’s share price registered a 0.95% increase, closing at ₹3,566.00 after reaching a high of ₹3,583.00. Strong order books and growth prospects in engineering and construction have maintained investor confidence.
• State Bank of India Ltd (SBIN): SBI share price rose by 0.73%, closing at ₹811.30. Positive quarterly results and strong loan growth in the banking sector have buoyed the stock.

These gains were better considering the broader market decline. Investors are keeping a close eye on these stocks as potential safe investments during turbulent times.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.