The Indian benchmark indices posted one of their worst days in almost eight months today, as investor sentiments took a hit from the US bond yield fluctuations and the escalating conflict in the Middle East. The NSE Nifty 50 closed at 19,122.15, down 0.83%, with only 10 of the Nifty 50 components experiencing gains.
NSE Top Losers Today
|Stocks||Previous Day’s Closing Price||Last Traded Price||Change (%)|
|APOLLO HOSPITALS ENTERPRISE LIMITED||4969.55||4850||-2.41|
|ADANI ENTERPRISES LIMITED||2308.65||2261||-2.06|
|SBI LIFE INSURANCE COMPANY LIMITED||1338.4||1311||-2.05|
|EICHER MOTORS LIMITED||3446.35||3386.5||-1.74|
- Apollo Hospitals: Apollo Hospitals features on our list of NSE top losers today for the fourth time this month. A fall in quarterly net profit, a declining profit margin (YoY), decreasing net cash flow, and high promoter stock pledges contributed to the company losing 2.41% of its stock price value.
- Adani Enterprises: Adani Enterprises features on our list of Nifty top losers today for the third time this month. A drop in net profit (QoQ), decreasing profits for the last two quarters, inability to generate net cash, high promoter stock pledges, ongoing legal cases, and regulatory investigations have resulted in the company losing 2.06% of its share price value.
- SBI Life Insurance: SBI Life features on our list of NSE top losers today for the first time this month. Inefficient use of assets to generate profits, a drop in net profit, and a declining profit margin (QoQ) led to the company losing 2.05% of its stock price value.
- Cipla Ltd.: Cipla features on our list of Nifty top losers today for the sixth time this month. Inefficient use of shareholder funds, a decreasing cash flow from operations, and a warning letter from the US FDA led to the company losing 1.9% of its share price value.
- Eicher Motors Ltd.: Eicher Motors features on our list of NSE top losers today for the second time this month. A decrease in MF shareholding in the past quarter attributed to the company losing 1.74% of its stock price value.
Commenting on today’s disappointing market performance, Shrikant Chouhan, Head of Retail Research at Kotak Securities, said, “Markets extended fall for the 5th straight session as banking, IT stocks led the slump in the backdrop of persisting global turbulence. Higher valuations of Indian stocks have been a concern, and the current global turmoil is allowing investors to reduce their equity exposure. Technically, due to weak sentiments, the Nifty has breached the important support level of 19200 and has also formed a bearish candle on daily charts, which is largely negative.”
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