The Indian stock market witnessed significant declines in several stocks as selling pressure weighed on select counters. Natco Pharma emerged as the biggest loser, plunging 18.65% to ₹991.45. The stock opened at ₹1,039.10, hit a high of ₹1,051.25, but dropped sharply to an intraday low of ₹988.75, indicating strong bearish sentiment.
Vijaya Diagnostic Centre also faced a sharp correction, tumbling 7.20% to ₹952.50. The stock saw an opening of ₹991.10 but struggled to maintain gains, with a low of ₹935.00. The decline comes amid profit-booking after recent gains in the healthcare sector.
Godfrey Phillips India, a key player in the FMCG space, declined 4.18% to ₹5,234.50. The stock opened at ₹5,454.00, which was also its intraday high, before slipping to ₹5,150.15. The selling pressure follows its recent earnings announcement.
Aegis Logistics was another notable laggard, dropping 3.41% to ₹767.15. The stock had opened at ₹794.00, climbed to a high of ₹805.65, but eventually succumbed to selling, hitting a low of ₹762.30.
Elgi Equipments, a leader in the industrial segment, declined 3.06% to ₹533.55. The stock faced selling pressure after opening at ₹553.45, with a low of ₹532.10 recorded during the session.
SKF India witnessed a decline of 2.98%, trading at ₹3,685.00. The stock had opened at ₹3,693.60, reached a high of ₹3,700.00, but fell to ₹3,643.10, reflecting weakness in the broader market sentiment.
Blue Star, a leading air conditioning and refrigeration company, slipped 2.01% to ₹1,954.90. After opening at ₹1,978.00, it touched a high of ₹1,984.40, but weakness in consumer stocks dragged it lower.
Bharat Forge, a key player in the engineering sector, declined 2.39% to ₹1,078.30. The stock opened at ₹1,075.00, went up to ₹1,085.00, but fell to ₹1,044.70, with profit-booking playing a role.
Lastly, Oberoi Realty saw a decline of 2.63%, trading at ₹1,597.15. The stock, which opened at ₹1,640.00, reached a low of ₹1,560.10, as real estate stocks faced some pressure.
The overall market trend indicates sectoral corrections, with stocks facing pressure following recent earnings and sectoral shifts. Investors remain cautious amid broader market fluctuations.
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