Domestic equity benchmarks Sensex and Nifty registered significant losses on Friday, tracking heavy sell off from global markets amid a sudden spike in bond yields. After three straight sessions of gains, Sensex ended 1,939 points lower at 49,099 and Nifty fell by 586 points to 14,529. Yesterday, Sensex ended 257 points higher at 50,039 and Nifty gained 115 points to 15,097. ONGC, M&M, Power Grid, Axis Bank, Bajaj Finserv traded as the top losers on BSE and NSE.
Here's a look at top losers that led the market fall on BSE and NSE today
The top loser on both bourses closed 6.60% lower at Rs 111.15 today. The stock has fallen after 4 days of consecutive gain. The share fell 7.5% intraday to the day's low of Rs 110.05. M-cap of the firm stood at Rs 1.39 lakh crore as of today's session. ONGC stock price has risen 5% in one week, 21% in one month and 19% year-to-date. ONGC is trading higher than 5, 20, 50, 100 and 200-day moving averages.
2. Mahindra & Mahindra (M&M)
Mahindra & Mahindra's (M&M) share price fell 6.35% to end at Rs 804.85 on BSE and by 6.53% to Rs 802.95 on NSE today. The top loser on both bourses today fell 7% intraday to Rs 799.1, its day's low. The stock has fallen 8.32% in one week. M&M's stock trades higher than 50, 100 and 200-day moving averages but lower than 5 and 20-day moving averages. The share has risen 1.2% in a month. Year-to-date, the stock is up 11%. Market capitalisation of Mahindra & Mahindra fell to Rs 1 lakh crore.
3. Axis Bank
The stock of the private lender ended 5.98% lower at Rs 724.70 on BSE and 5.99% lower at Rs 724.45 on NSE. The banking stock touched a low of Rs 726 on BSE today, falling 5.8% intraday. Market capitalisation of the lender stood at Rs 2.20 lakh crore. Axis Bank is trading higher than 20, 50, 100 and 200-day moving averages but lower than 5-day moving averages. The stock price of Axis Bank has fallen 3.2% in one week. The stock has fallen after 2 days of consecutive gains.
4. Bajaj Finserv
Bajaj Finserv stock price was trading as the top loser on BSE and NSE and fell after 3 days of consecutive gains. The share stands higher than 50, 100 and 200-day moving averages but lower than 5 and 20-day moving averages. The stock has fallen 5% in one week. However, it has gained 4.8% in one month and 8% year-to-date. M-cap of the firm stood at Rs 1.53 lakh crore as of today's session. The stock closed 5.95% lower at Rs 9,652.70 on BSE and at 6.19% lower at Rs 9,629 on NSE today.
5. Kotak Mahindra Bank
Kotak Mahindra Bank share price closed 5.96% lower on BSE at Rs 1,782.35 and 5.58% lower on NSE at Rs 1,784. The stock fell 6.45% to an intraday low of Rs 1773.1 today. Kotak Bank stock has fallen 7.14% in the last 2 days. Kotak Mahindra Bank is trading higher than 200-day moving averages but lower than 5, 20, 50, 100-day moving averages. The stock has fallen 8% in one week,0.71% in one month and 10% Year-to-date. However, the stock has gained 7% in one year. Market-cap of the lender stood at Rs 3.53 lakh crore today.
The market breadth, indicating the overall health of the market was negative on the BSE, with 1,062 shares rising, 1,853 shares falling and a total of 186 unchanged shares.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, gained 22.93% to end at 28.14. Investors lost Rs 5.41 lakh crore today, while the BSE's market capitalization fell to Rs 200 lakh crore.