Despite gains in the Metal and Energy sectors, the NSE Nifty 50 closed at a low of 19,794, shedding 17.35 points or 0.09%, driven by losses in the IT sector.
Investors closely monitor the Israel-Hamas conflict and its effect on the global markets, even as analysts predict that the fallout would be negligible as long as the war remains confined to the Middle East.
NSE Top Losers Today
|Stocks||Previous Day’s Closing Price||Last Traded Price||Change (%)|
|TECH MAHINDRA LIMITED||1231.6||1197.25||-2.79|
|APOLLO HOSPITALS ENTERPRISE LIMITED||5092.85||4995.05||-1.92|
|TATA CONSULTANCY SERVICES LIMITED||3609.9||3543||-1.85|
|HCL TECHNOLOGIES LIMITED||1245.6||1223.4||-1.78|
- Infosys Ltd: Infosys features on our list of NSE top losers today for the first time this month. A drop in profit margin (QoQ), a decrease in net profit, and a decline in profits in the past two quarters contributed to the company losing 2.82% of its stock price value.
- Tech Mahindra Ltd: Tech Mahindra features on our list of Nifty top losers today for the first time this month. A drop in MF shareholding in the last quarter, a decline in profit margin (QoQ), a decrease in quarterly net profit, a fall in revenue and profits for the past two quarters, and the inability to generate net cash resulted in the company losing 2.79% of its share price value.
- Apollo Hospitals Enterprise Ltd: A decline in profit margin (YoY), a drop in quarterly net profit, a decrease in net cash flow, and high promoter stock pledges saw Apollo Hospitals lose 1.92% of its stock price value. The company features on our list of NSE top losers for the third time this month.
- Tata Consultancy Services Ltd: TCS scores a hat-trick it could have done without, featuring on our list of Nifty top losers today for the third time in as many days. A decrease in net cash flow and high promoter stock pledges resulted in the company losing 1.85% of its share price value.
- HCL Technologies Ltd: HCL features on our list of NSE top losers today for this month’s second and third consecutive day. A decrease in MF shareholding in the last quarter, a drop in profit margin (QoQ) and net profit, a decline in revenue and profits in the previous two quarters, and an inability to generate net cash saw the company lose 1.78% of its stock price value.
“The rupee traded slightly weaker ahead of key consumer price data from home and the US. However, the dollar index remained under pressure as Wednesday’s PPI upside surprise failed to offset the more dovish narrative from Fed officials.
The Indian rupee erased most of its previous day’s gain on dollar demand from importers. At the same time, overseas investors still remained net sellers of domestic equities”, said Dilip Parmar, Research Analyst at HDFC Securities.
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