The NSE Nifty 50 dropped for the second consecutive day today. Consumer durables and the auto sectors emerged as the winners, while the energy and the metal sectors lost value.
The Nifty closed today at 19,624.70, down 46.40 points or 0.24%, its lowest since October 9.
Below is a snapshot of the NSE top losers today.
|Stocks||Previous Day’s Closing Price||Last Traded Price||Change (%)|
|TECH MAHINDRA LIMITED||1187.1||1169||-1.52|
|SUN PHARMACEUTICAL INDUSTRIES LIMITED||1153.4||1136.6||-1.46|
- Wipro Ltd.: Wipro features on our list of NSE top losers today for the second time this month. Inefficient use of capital and assets to generate profits, inefficient use of shareholder funds, a drop in profit margin (QoQ) and quarterly net profit and decreasing revenue for the past three quarters have contributed to the company losing 3.04% of its share price value.
- Tech Mahindra Ltd.: Tech Mahindra features on our list of Nifty top losers today for the second time this month. A drop in MF shareholding in the last quarter, a declining profit margin (QoQ) and quarterly net profit, decreasing revenue for the past two quarters and an inability to generate net cash resulted in the company losing 1.52% of its stock price value.
- Sun Pharmaceutical Industries Ltd.: Sun Pharmaceuticals features on our list of NSE top losers today for the third time this month. A fall in quarterly net profit and profit margin (YoY), high promoter stock pledges, ongoing legal cases, and regulatory investigations led to the company losing 1.46% of its share price value.
- NTPC Ltd.: NTPC features on our list of Nifty top losers today for the second consecutive day and the fifth time this month. A drop in MF shareholding in the last quarter and decreasing revenue for the previous two quarters has attributed to the company losing 1.24% of its stock price value.
- UPL Ltd.: UPL features on our list of NSE top losers today for the third time this month. A drop in quarterly net profit, declining profit margin (QoQ), decreasing profits for the past two quarters, a fall in quarterly revenue and the inability to generate net cash has resulted in the company losing 1.22% of its share price value.
The Head of Retail Research at HDFC Securities, Deepak Jasani, commented on today’s drop, “Global equities slid on Thursday as risk aversion prevailed due to mounting worries over Middle East conflict, while the bond sell-off intensified, taking Treasury yields to fresh 16-year highs ahead of a keenly awaited speech from Fed Chairman.
Nifty fell on October 19 with a down gap but filled the gap by recovering in the morning session. A late selloff again took the Nifty into negative territory. The 19840-19850 band is proving to be an overhead resistance for the Nifty, and post a small recovery, it could again seek lower levels. On up moves, Nifty could face resistance in the 19680-19730 band while 19480-19512 band could provide support.”
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I’m Archana R. Chettiar, an experienced content creator with
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