With RBI announcing that it would keep the key interest rates unchanged, the NSE Nifty gained 0.55% to close at 19653.50.
Unfortunately, not everyone went home happy. Companies like Coal India, ONGC, Nestle India, CIPLA, HDFC Bank and L&T continued their bad run at the markets, losing stock price value and making it to the Nifty list of top losers today.
Top NSE Losers Today
|Stocks||Previous Day’s Closing Price||Last Traded Price||Change (%)|
|HINDUSTAN UNILEVER LIMITED||2519.55||2499.6||-0.79|
|COAL INDIA LIMITED||289.35||287.5||-0.64|
|OIL & NATURAL GAS CORPORATION LIMITED||182.2||181.5||-0.38|
|ASIAN PAINTS LIMITED||3206.25||3197||-0.29|
|BHARTI AIRTEL LIMITED||928.85||926.5||-0.25|
|BRITANNIA INDUSTRIES LIMITED||4533.9||4530||-0.09|
|NESTLE INDIA LIMITED||22918.7||22900||-0.08|
|HDFC BANK LIMITED||1535.75||1535||-0.05|
|LARSEN & TOUBRO LIMITED||3096.05||3095||-0.03|
1. Hindustan Unilever Ltd.: A drop in profit margin and net profit resulted in Hindustan Unilever losing 0.79% of its share price value today.
2. Coal India Ltd.: Featuring for the second time in four days on the list of NSE top losers today, Coal India continues to have a bad run, losing 0.64% of its stock price value to decrease in quarterly net profit, profit margin and net cash flow.
3. Oil and Natural Gas Corporation Ltd.: Featuring for the third time in four days on the list of Nifty top losers today, ONGC lost 0.38% of its share price value due to a decrease in net cash flow and successive decline in revenue for the past two quarters.
4. Asian Paints Ltd.: High promoter stock pledges and a decrease in MF shareholding in the last quarter led to Asian Paints losing 0.29% of its stock price value today.
5. Bharti Airtel Ltd.: High debt and a drop in profit margin and net profit resulted in Bharti Airtel losing 0.25% of its share price value today.
6. Britannia Industries Ltd.: A decline across multiple parameters like profit margin (QoQ) and revenue for the past three quarters led to Britannia Industries losing 0.09% of its stock price value today.
7. Nestle India Ltd.: Featuring for the second consecutive day on the list of NSE top losers today, a drop in profit margin (QoQ) and net profit resulted in Nestle India losing 0.08% of its share price value today.
8. CIPLA Ltd.: Scoring a hat-trick it never wanted, CIPLA features on the list of Nifty top losers today for the third time in as many days, losing 0.06% of its stock price value to red flags like a warning letter from the US FDA and a drop in cash flow from operations.
9. HDFC Bank Ltd.: This is the second time in four days that HDFC Bank features on the list of Nifty top losers today, losing 0.05% of its share price value to a combined drop in profits for the last two quarters and profit margin (QoQ).
10. Larsen & Toubro Ltd.: This is the second time in three days that L&T features on the list of NSE top losers today, losing 0.03% of its stock price value due to a drop in profit margin (QoQ) and net profit.
Experts like Amol Athawale, Vice President of Technical Research at Kotak Securities, were visibly optimistic with today’s surge, “As long as the index is trading above the 50-day SMA or 19575 level, the positive sentiment is likely to continue. Above the same, it could move up till 20-day SMA or 19800, and on further upside, the index may also continue upsurge till 19850. On the flip side, a fresh selloff is possible only after the dismissal of 19575 and below the same, the index could retest the level of 19450-19350.”
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I’m Archana R. Chettiar, an experienced content creator with
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