The growing Middle East conflict, US interest rates, and high oil prices drove the benchmark indices down today, with the NSE Nifty 50 closing at 19,671.10, down 140.40 points or 0.71%.
Below is a snapshot of NSE top losers today.
|Stocks||Previous Day’s Closing Price||Last Traded Price||Change (%)|
|BAJAJ FINANCE LIMITED||8093||7854||-2.95|
|BAJAJ FINSERV LIMITED||1657.65||1627||-1.85|
|RELIANCE INDUSTRIES LIMITED||2355.25||2321.4||-1.44|
|HDFC BANK LIMITED||1541.2||1519||-1.44|
- Bajaj Finance Ltd.: Bajaj Finance features on our list of NSE top losers today for the second time this month. A decrease in MF shareholding in the previous quarter and a drop in cash flow from operations resulting in an inability to generate net cash led to the company losing 2.95% of its share price value.
- Bajaj Finserv: Bajaj Finserv features on our list of Nifty top losers today for the second time this month. A drop in cash generated from core business, a decline in net cash flow, and high promoter stock pledges contributed to the company losing 1.85% of its stock price value.
- NTPC Ltd.: NTPC features on our list of NSE top losers today for the fourth time this month. A drop in MF shareholding in the last quarter and decreasing revenue for the previous two quarters attributed to the company losing 1.46% of its share price value.
- Reliance Industries Ltd.: Reliance Industries features on our list of Nifty top losers today for the second time this month. A drop in quarterly net profit and profit margin (QoQ) and decreasing revenue for the past three quarters resulted in the company losing 1.44% of its stock price value.
- HDFC Bank Ltd.: HDFC Bank features on our list of NSE top losers today for the third time this month. Bearish stocks and low operating income led to the company losing 1.44% of its share price value.
Commenting on today’s disappointing performance, Deepak Jasani, Head of Retail Research at HDFC Securities, said, “Asia markets were mixed in choppy trading on Wednesday after economic data from China showed stronger-than-expected growth. European stocks inched lower on Wednesday as an explosion at a Gaza hospital complicated diplomatic efforts to resolve conflict in the Middle East.
Nifty faced resistance from the 19840-19850 band for the fourth time in the last six days and reacted downwards. A breach of this band will lead to higher upsides while 19512-19635 band could provide support in the near term.”
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