Biggest gainers & losers of the day: Sugar stocks in sweet spot; Swelect Energy tanks 9%

The 30-pack Sensex rallied 672.71 points or 1.14 per cent to close at 59,855.93. Its broader peer Nifty50 surged 179.55 points or 1.02 per cent to 17,805.25. The broader markets underperformed the headline peers but both BSE midcap and smallcap indices settled in the green.

Vinod Nair, Head of Research at Geojit Financial Services said, “Tracking strong momentum of global peers, domestic bourses witnessed a smooth sail, steered by index heavyweights and gains in financials & consumer durables. Despite surging Covid cases, investor sentiments remain positive globally.”

Shares of sugar and textile companies were in huge demand amid positive outlooks for the sector. Mirza International stock zoomed after the promoter increased stake. On the other hand, investors booked profits in Swelect Energy and BGR Energy, driving stocks lower.

Let’s have a look at the biggest movers and shakers of Tuesday’s session:


GAINERS

Sugar Stocks: Sugar makers were in a sweet spot as investors expected robust earnings driven by the government’s aggressive ethanol blending programme. Uttam Sugar Mills and Dwarikesh Sugar hit the upper circuits of 20 per cent each at Rs 218.85 and Rs 87.45, respectively. Balrampur Chini Mills, Avadh Sugar, Dalmia Bharat Sugar and Dhampur Sugar zoomed up to 14 per cent.

Indo Rama Synthetics (India): The textile player has been in demand lately thanks to positive global and domestic factors, including the PLI scheme and advocacy of China+1 theory. The scrip rallied 18 per cent to Rs 68.40

Mirza International: The smallcap footwear player soared 17 per cent to Rs 148.75 as the promoter increased its stake in the company. The counter has been high in demand lately as it has surged more than 100 per cent in just two months.

Neogen Chemicals: The speciality chemical player rallied 14 per cent to Rs 1,900 on the back of a strong technical set-up on the daily charts. The traded volume on the counter jumped manifold compared to the two-week average.

Hinduja Global Solutions: The Hinduja group firm surged 10 per cent to Rs 3636.50 ahead of its board meeting scheduled on Thursday, January 6 to consider the declaration of interim dividend and proposal for declaration of bonus issue of shares.

LOSERS

Swelect Energy Systems: The solar power player tanked 9 per cent to Rs 303.45 after a sharp 40 per cent rally in the last one week. Investors turned cautious and took some profit off the table.

Ucal Fuel Systems: The auto parts player shed 6 per cent to Rs 161.75 on the back of a bleak outlook over the counter. The scrip had been in demand lately but in the longer run, its performance has been tepid.

HT Media: The smallcap media player declined 6 per cent to Rs 27.85 on the back of a weak technical set-up on the daily charts. The traded volume on the counter jumped manifold compared to the two-week average.

B
GR Energy Systems: The construction and engineering player dropped 6 per cent to Rs 89.15 on the back of profit booking. The counter had gained about 50 per cent in the last one week and investors were cautious after this rally.