Top losers in today’s market include PFC, REC Ltd, and Adani Ports. They suffered significant drops in share prices, falling by nearly 20%. Other companies like HUDCO, Adani Energy Solutions, Adani Green Energy, Titagargh Rail, and Adani Total Gas also saw crashes of over 15% during the day.
Additionally, shares of Ambuja Cements, Adani Enterprises, Vodafone Idea, Indus Towers, Adani Ports, BEL, GAIL, Hindustan Copper, BHEL, Adani Power, Hindustan Aeronautics, and Bank of Baroda fell by over 14% on NSE.
Among the Nifty50 stocks, Adani Ports and Adani Enterprises experienced the highest falls of 19.4% and 15% respectively, while PSUs NTPC, ONGC, and Powergrid were down by over 14%.
The Nifty PSE index also dropped by nearly 14%, with all its constituents falling over 7% on the day. All Adani stocks were also in the red.
As of 11:40 am, the BSE Sensex was trading nearly 3,700 points, or 4.6%, lower at 72,947, while the Nifty50 was down 990 points, or 4.30%, trading at 22,268. The fear index VIX witnessed its highest single-day gain in 9 years, jumping by nearly 37% to the day’s high of 28.62. This surge came after counting trends showed a strong fightback by the INDIA Alliance, although BJP still managed to cross the majority mark.
Amidst the market downturn, FMCG, pharma, and healthcare stocks like DMart, Hindustan Unilever, Max Healthcare, Marico, and Colgate-Palmolive managed to show gains of up to 3%.
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