As of mid-day trading on October 24, 2024, several large-cap and mid-cap stocks were under heavy selling pressure, pushing them into the top losers category. Let’s take a closer look at some of the top losers in today’s session:
Large-Cap Losers:
- Hindustan Unilever (HUL):
- Price: ₹2,485.60
- Loss: ₹173.70 (-6.53%)
- Hindustan Unilever is one of the biggest decliners in today’s session, suffering a steep fall of over 6%. The decline comes after the company announced its Q2 results, which missed market expectations.
- SBI Life Insurance:
- Price: ₹1,629.95
- Loss: ₹86.05 (-5.01%)
- SBI Life has continued its downtrend after the announcement of its quarterly earnings. Investors are cautious after a mixed financial report showing a decline in key growth metrics.
- Hindalco:
- Price: ₹691.00
- Loss: ₹26.10 (-3.63%)
- Hindalco extended its losses following weak sentiment in the metals sector. The stock continues to be under pressure due to ongoing global concerns about aluminum demand.
- Bajaj Auto:
- Price: ₹10,255.85
- Loss: ₹330.90 (-3.12%)
- Bajaj Auto saw a sharp decline, losing more than 3% as the auto sector continues to face headwinds.
- Varun Beverages:
- Price: ₹611.40
- Loss: ₹17.35 (-2.75%)
- Despite its recent performance, Varun Beverages is witnessing a selling spree, shedding close to 3%.
Mid-Cap Losers:
- KPIT Tech:
- Price: ₹1,449.55
- Loss: ₹185.00 (-11.31%)
- KPIT Tech faced the sharpest decline in the mid-cap space, dropping by over 11%. The technology sector continues to see volatility, and KPIT Tech’s Q2 results failed to boost investor confidence.
- Escorts Kubota:
- Price: ₹3,500.55
- Loss: ₹200.65 (-5.42%)
- Escorts Kubota also experienced a significant drop, losing over 5% as weak quarterly numbers spooked investors.
- Schaeffler India:
- Price: ₹3,695.70
- Loss: ₹181.40 (-4.67%)
- Schaeffler India reported revenue growth but saw margin compression, leading to a sell-off.
- Sundaram Finance:
- Price: ₹4,751.55
- Loss: ₹152.65 (-3.11%)
- Sundaram Finance joined the list of top losers after investor sentiment turned negative following its quarterly report.
- Blue Star:
- Price: ₹1,854.20
- Loss: ₹45.95 (-2.41%)
- Blue Star saw a decline amid broader market weakness in the industrial and manufacturing sectors.
In conclusion, heavyweights from various sectors such as FMCG, insurance, and automotive took a beating in today’s market, with HUL, SBI Life, and KPIT Tech leading the declines. Investors remain cautious amidst mixed quarterly earnings and global uncertainties impacting demand in several sectors.
