Losses by companies like ITC Ltd. drove our benchmark indices down today, undoing the gains of the past two weeks.
Private banks emerged as the winners today, while the share prices in the energy, consumer durables and realty sectors dwindled.
With investors growing anxious about the escalating conflict in the Middle East, the prices of oil and gold rose as equities fell.
The NSE Nifty 50 closed at 19,542.65 today, down 82.05 points or 0.42%.
Below is the snapshot of the NSE top losers today.
| Stocks | Previous Day’s Closing Price | Last Traded Price | Change (%) |
| ITC LIMITED | 450.4 | 438 | -2.75 |
| TATA STEEL LIMITED | 126 | 123.1 | -2.3 |
| BHARAT PETROLEUM CORPORATION LIMITED | 353.7 | 346.4 | -2.06 |
| DIVI’S LABORATORIES LIMITED | 3637.75 | 3566.7 | -1.95 |
| CIPLA LIMITED | 1223.3 | 1200.4 | -1.87 |
- ITC Ltd.: ITC features on our list of NSE top losers today for the first time this month. A decline in net profit (QoQ) and decreasing revenue for the past two quarters contributed to the company losing 2.75% of its stock price value.
- Tata Steel Ltd.: Tata Steel features on our list of Nifty top losers today for the third time this month. A drop in quarterly revenue, a decrease in quarterly net profit and profit margin (QoQ), a reduction in net cash flow and high promoter stock pledges saw the company lose 2.3% of its share price value.
- Bharat Petroleum Corporation Ltd.: BPCL features on our list of NSE top losers today for the second time this month. Inefficient use of assets and capital to generate profits, inefficient use of shareholder funds, decreasing cash flow from operations and a decline in net profit resulted in the company losing 2.06% of its stock price value.
- Divi’s Laboratories Ltd.: Divi’s Laboratories features on our list of Nifty top losers today for the third time this month. A drop in quarterly revenue and net profit and a decline in profit margin (YoY) led to the company losing 1.95% of its share price value.
- Cipla Ltd.: Cipla features on our list of NSE top losers today for the fifth time this month. A warning letter from the US FDA, inefficient use of shareholder funds and a drop in cash flow from operations attributed to the company losing 1.87% of its stock price value.
Commenting on the performance of the benchmark indices today, Amol Athawale, the Vice President of Technical Research at Kotak Securities, said, “Markets languished in negative territory through the session and ended weak on the back of weak global cues and rising commodity prices. If international crude prices continue their upward trajectory, investors would turn jittery and more profit-taking could be seen in the domestic equity markets in the near to medium term. Technically, on daily and intraday charts, the Nifty formed a double top formation and reversed. Post reversal, the index is comfortably trading below the 20 and 50-day SMA (Simple Moving Average), which is largely negative.”
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I’m Archana R. Chettiar, an experienced content creator with
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