Share market indices declined sharply on Monday and ended 2.25% lower each as investors booked profit across sectors. Tracking cues from weak Asian equities, Sensex ended 1,145 points lower at 49,744 and NSE Nifty 50 index lost 306 points to 14,675.
Last Friday, Sensex ended 434 points lower at 50,889 and NSE Nifty 50 index fell by 137 points to 14,981. Last week, the indices corrected 1.5%. On Tuesday, Sensex hit a record high of 52,516 and Nifty hit a lifetime high of 15,431. However, both are up 4.5% each since the beginning of the year.
Eicher Motors, M&M, Axis Bank, IndusInd Bank, Dr Reddy, Tech Mahindra, L&T and TCS traded among the top losers on the bourses.
Here's a look at top losers that led the market fall on BSE and NSE today
1. Eicher Motors
The top loser on NSE ended 5% lower today at Rs 2,453, amid heavy selling in auto stocks. The share price of the automobile index heavyweight fell 5.21% intraday to the day's low of Rs 2451. M-cap of the firm stood at Rs 67,986.05 crore as of today's session. It has fallen 10% in one week, 16% in one month and 1% year-to-date. Eicher Motors stock currently trades higher than 200-day moving averages but lower than 5, 20, 50 and 100-day moving averages. The stock has fallen 16.27% in the last 10 days.
2. Mahindra & Mahindra (M&M)
Mahindra & Mahindra's (M&M) share price fell 4.5% lower to end at Rs 836.90 on BSE and by 4.47% to Rs 837.90 on NSE today. The top loser on both bourses today fell 4.96% intraday to Rs 832.95, its day's low. The stock has fallen 8.32% in one week. M&M stock trades higher than 50, 100 and 200-day moving averages but lower than 5 and 20-day moving averages. The share has risen 4% in a month. Year-to-date, the stock is up 16%. The market capitalisation of Mahindra & Mahindra fell to Rs 1,04,042.78 crore.
3. IndusInd Bank
Amid heavy profit booking in the private banking sector, IndusInd Bank shares ended as the top loser on BSE and NSE. The share of IndusInd Bank has fallen after 2 days of consecutive gain. In a volatile session, the stock fell 4.85% to Rs 1015.3, its day's low. The stock has fallen 3.4% in one week and 13% in one year. IndusInd Bank is trading higher than 20, 50, 100 and 200-day moving averages but lower than 5-day moving averages. The share closed 4.25% lower at Rs 1,021.80 on BSE and at Rs 1,023.70, down 3.96% on NSE.
4. Axis Bank
The stock of the private lender ended 3.96% lower at Rs 719.65 on BSE and 4% lower at Rs 719.55 on NSE. The banking stock touched a low of Rs 715 on BSE today, falling 4.58% intraday. Market capitalisation of the lender stood at Rs 2,20,400.53 crore. Axis Bank share is trading higher than 50, 100 and 200-day moving averages but lower than 5 and 20-day moving averages. The stock price of Axis Bank has fallen 9% in one week. The stock has corrected 7.4% in the last 3 days.
5. Dr Reddy's Laboratories
Dr Reddy's stock touched an intraday low of Rs 4,380, trading 6.5% lower as the top loser on both BSE, NSE today. Dr Reddy's stock has fallen after 2 days of gain. The stock price trades lower than 5, 20, 50, 100 and 200-day moving averages. The stock price of the pharma major has fallen 5% in one week, 11% in one month and 14% year-to-date. However, Dr Reddy's share value has risen 37% in one year. The stock closed 4.77% lower at Rs 4,461.85 on BSE and down 4.43% at Rs 4,474 on NSE.
6. Tech Mahindra
The stock of the IT company closed 4.42% lower at Rs 950.35 on BSE and 4.64% lower at Rs 947.85 on NSE. The top loser stock of BSE, NSE touched a day's low at Rs 942.3, falling 5.23% intraday. The market capitalisation of Tech Mahindra Ltd. stood at Rs 91,974.44 crore. The stock has fallen 2.9% in the last week. Tech Mahindra is trading higher than 100 and 200-day moving averages but lower than 5, 20 and 50-day moving averages. In the last one month, the IT stock has risen by 3%. It has dropped 2.33% since the beginning of the year.
7. Tata Consultancy Services (TCS)
Shares of Indian IT services companies, Tata Consultancy Services (TCS) closed 3.69% lower at Rs 2,958.75 on BSE and 3.79% lower at Rs 2,955.50 on NSE today. Shares of the top IT index loser touched an intraday low of Rs 2945.5, falling 4.12%. TCS stock is trading higher than 100 and 200-day moving averages but lower than 5, 20, 50-day moving averages. The stock of TCS had a 52-week low of Rs 1,504.40. Market capitalisation of the IT major stood at Rs 10,94,456.82 crore today. TCS shares have fallen 5.7% in a week and over 10% in one month.
8. Larsen and Toubro
Shares of Larsen and Toubro Ltd (L&T) were top losers on both BSE and NSE on Monday's session. Following the drop in major heavyweights and broader indices, L&T's shares fell 3.97% intraday to Rs 1448 on BSE. The stock of the construction major has fallen 6.2% in the last 4 days of consecutive fall. The LT stock trades higher than 50, 100 and 200-day but lower than 5 and 20-day moving averages. The stock has fallen 5% in one week, although gained 6.5% in one month and 12% since the beginning of the year. The stock closed 3.68% lower at Rs 1,452 on BSE and Rs 1,453.65, falling 3.66% on NSE.
Other losers were Maruti, Bajaj Finserv, HDFC, PowerGrid, Airtel and RIL. Meanwhile, ONGC, HDFC Bank and Kotak Bank were the only stocks that ended as the top gainers in today's bearish session.
The market breadth, indicating the overall health of the market was negative on the BSE, with 1,040 shares rising, 1,987 shares falling and a total of 152 shares remaining unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, gained 14.47 per cent to end at 25.47. BSE's market capitalisation fell to Rs 200 lakh crore in today's session.