The NSE Nifty 50 recorded its worst session in more than seven months, with investor sentiments hurt by the high US bond yields and the escalating conflict in the Middle East. The benchmark index tumbled to 19,281.75, down 1.34% or 260.90 points, registering its worst session since 13th March.
NSE Top Losers Today
|Stocks||Previous Day’s Closing Price||Last Traded Price||Change (%)|
|ADANI ENTERPRISES LIMITED||2393.75||2304.95||-3.71|
|HINDALCO INDUSTRIES LIMITED||471.75||457.25||-3.07|
|JSW STEEL LIMITED||769.4||746.1||-3.03|
|ADANI PORTS AND SPECIAL ECONOMIC ZONE LIMITED||793.65||771||-2.85|
- LTIMindtree Ltd.: LTIMindtree features on our list of NSE top losers for the second time this month. A decreasing profit margin (YoY) and a drop in quarterly net profit contributed to the company losing 3.92% of its share price value.
- Adani Enterprises Ltd.: Adani Enterprises features on our list of Nifty top losers today for the second time this month. A drop in net profit (QoQ), decreasing profits for the past two quarters, inability to generate net cash, high promoter stock pledges, and ongoing legal cases and regulatory investigations resulted in the company losing 3.71% of its stock price value.
- Hindalco Industries Ltd.: Hindalco Industries features on our list of NSE top losers today for the third time this month. Decreasing profit margin (YoY), a quarterly net profit and revenue drop, and a declining net cash flow led to the company losing 3.07% of its share price value.
- JSW Steel Ltd.: JSW Steel features on our list of Nifty top losers today for the third time this month. A fall in net profit, decreasing profit margin (QoQ), and high promoter stock pledges contributed to the company losing 3.03% of its stock price value.
- Adani Ports: Adani Ports features on our list of NSE top losers today for the third time this month. Inefficient use of assets and capital to generate profits, inefficient use of shareholder funds, a decreasing net cash flow, high promoter stock pledges, and auditor resignation resulted in the company losing 2.85% of its share price value.
Commenting on today’s fall in Nifty, Head of Retail Research at HDFC Securities, Deepak Jasani, said, “Global equities fell as the 10-year yield on US Treasuries hit 5% for the first time since 2007 and as investors worried that the war between Israel and Hamas could turn into a bigger Middle Eastern conflict.
Nifty showed a downside breakout, falling below the 19334 support. The midcap index fell to its lowest in two months. A long bear candle was formed on the daily charts, which could be a resistance in the next upmove. Risk-off sentiments seem to be prevalent based on the adverse advance-decline ratio. Nifty could now, on a break of 19223 level, head towards 18840 while on up moves, 19480 could provide resistance.”
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