Top Performers and Laggards on February 23: Blue Jet Healthcare, Trident, Indian Bank, Siemens, Finolex Cables Experience Significant Price Movement

Indian Stock Market Sees Sharp Gains on US Supreme Court Ruling

Market Overview

The Indian stock market closed Monday's session (February 23) with significant gains, driven by improved market sentiment following the US Supreme Court's decision to strike down import levies imposed by President Donald Trump. The Nifty 50 gained 0.52% to reach 25,703, while the Sensex rallied 0.56% to 83,276.

Sectoral Performance

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The sectoral performance was mixed, with the Nifty PSU Bank extending its bull run to the third day, gaining 1.36% and reaching a new record high. The Nifty Auto and Nifty FMCG indices also saw gains of 0.83% and 0.70%, respectively. However, the Nifty IT was the worst performer, plunging 1.42%, while the Nifty Metal and Nifty Realty indices fell by 0.23% and 0.19%, respectively.

Top Performers

Blue Jet Healthcare was the top performer in the Nifty 500 pack, rallying 10% to ₹391.40 apiece on strong trading volumes. Other top performers included Aegis Vopak Terminal, Neuland Laboratories, and BLS International Services, which saw gains of 8.7%, 8%, and 5.6%, respectively.

Capital Goods and Banking Stocks

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Capital goods stocks such as Kalpataru Projects, Elgi Equipments, and Cummins India saw gains of between 3% and 4.5%. Banking stocks like Indian Bank and City Union Bank rallied 3.8% and 3.4%, respectively.

Metals Space

In the metals space, Jindal Stainless jumped 4.45% to ₹795 apiece, while Metropolis Healthcare and OneSource Specialty also rallied over 4%.

Laggards

On the other hand, IDFC First Bank tumbled 16% to ₹70 apiece after the lender disclosed a ₹590-crore fraud. UPL fell 14.3% to ₹644.8 apiece after announcing a group restructuring. Other laggards included Godfrey Phillips India, Swan Corp, and Reliance Infrastructure, which fell 11%, 7%, and 5%, respectively.