Bajaj Finance, Tata Steel Among Top Losers Today: Check Major Stock Highlights
Market Action Today
The Indian equity market suffered steep losses on Monday amid weakness across sectors, tracking a global sell-off as 41-year high US inflation rekindled worries about even more aggressive Fed policy tightening. The Nifty closed 2.64% down to 15,774.40, while the Sensex ended 2.68% lower at 52,846.70.
Here are the major stock movement highlights from today’s trading:
Adani Wilmar Lost 5%: Adani Wilmar fell over inflation worries, negative impact on input costs.
Ashok Leyland Plunged 4%: Ashok Leyland fell post a 'Sell' rating by HDFC Securities over high valuations and upcoming margin pressures.
Bajaj Finance Down 5%: Bajaj Finance fell sharply and touched 1-year lows following the negative sentiments in financial stocks.
Bank of Baroda Dropped 5%: Bank of Baroda sank leading the fall in financial stocks ahead of inflation data release.
BPCL Down 4%: BPCL extended fall over the discontinuation of the disinvestment process.
Happiest Minds Down 3%: Happiest Minds extended fall following the cautious business guidance by the industry leader TCS last week, stock down 7% in the last 1-week.
ICICI Bank Fell 4%: ICICI Bank fell sharply leading the decline in private sector banks ahead of inflation data release, interest rate action in US.
IOC Dropped 5%: Indian Oil stock fell after rumors of cash outflow due to compensation to ethanol makers for energy costs.
KPIT Tech Down 4%: KPIT Tech extended fall following the cautious business guidance by the industry leader TCS last week, stock down 7% in last 1-week.
NALCO Ended 5% Down: NALCO extended decline due to revenue concerns in business post announcements of fresh lockdowns in China over Covid.
NMDC Down 4%: NDMC fell sharply after reports of postponement of Nagarnar Plant demerger plan.
NTPC Slipped 4%: NTPC extended decline over rising cost of input materials for its thermal plants, stock down 6% since last 4 days.
SAIL down 3%: SAIL extended decline due to demand concerns post announcements of fresh lockdowns in China over Covid.
Suzlon Plunged 5%: Suzlon extended fall after SBI-led consortium sold off Suzlon loans worth Rs 8,000 cr.
Tata Motors Down 5%: Tata Motors shares extended fall over rising costs concerns for input materials, interest rate hike in UK.
Tata Power Declined 5%: Tata Power stock fell sharply amid negative sentiments in power stocks, concerns over spike in input cost.
Tata Steel Fell 3%: Tata Steel extended decline due to revenue concerns in business post announcements of fresh lockdowns in China over Covid.
Tech Mahindra Lost 5%: Tech Mahindra extended fall following the cautious business guidance by the industry leader TCS last week, stock down 11% in last 1-month.
Vedanta Ended 4% Lower: Vedanta extended losses amid pressure in metal stocks after announcements of fresh lockdowns in China.
Wipro Lost 3%: Wipro declined amid recession concerns in the IT sector after cautious commentary from TCS last week.