On October 7, the Indian stock market witnessed a significant downturn with several stocks recording substantial losses. The top losers during the session were Adani Ports, Bharat Electronics Limited (BEL), Adani Enterprises, and Coal India. Here is a breakdown of the major decliners and their performance on the day:
- Adani Ports was the top loser, declining 4.29% to close at ₹1,353, down from its previous close of ₹1,413.70. The stock hit an intraday low of ₹1,337, with over 45.3 lakh shares traded.
- Bharat Electronics Limited (BEL) fell by 3.54%, ending at ₹267.40. The stock’s previous close was ₹277.20, and it reached a low of ₹265 during the trading session, indicating a downward pressure on the stock. BEL saw significant trading volume, with over 2.16 crore shares changing hands.
- Adani Enterprises closed at ₹3,011, down 3.20% from its previous close of ₹3,110.65. The stock’s intraday low was ₹2,980.45, with a considerable trading volume of over 17 lakh shares.
- Coal India witnessed a drop of 3.18%, closing at ₹481.40. The stock’s previous close was ₹497.20, with an intraday low of ₹475.35. Over 89 lakh shares were traded in the session.
- NTPC faced a 3.10% drop, closing at ₹417.10. The stock’s high during the day was ₹433, but it closed significantly lower, indicating bearish sentiment. NTPC had over 2.34 crore shares traded during the day.
Other notable losers included Power Grid (down 2.94%), State Bank of India (SBI) (down 2.84%), and Titan (down 2.59%).
Nifty at 24,800, Sensex Down 580 Points; IT Sector Outperforms
The Nifty closed at around 24,800, and the Sensex shed around 580 points on October 7, ending the day on a weak note. The IT sector outperformed, standing as the only sector to close in the green, while all other sectoral indices faced losses.
Biggest losers on the Nifty included NTPC, Adani Ports, Adani Enterprises, Bharat Electronics, and Coal India. Sectorally, PSU bank, healthcare, capital goods, realty, metal, power, oil & gas, media, and telecom were all down by 1-3%.
The market’s overall sentiment was negative, with the BSE Midcap index dropping by 2% and the Smallcap index declining over 3%.
