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Top losers today: Five stocks fall upto 3%; HDFC, L&T, Axis Bank, Bajaj Finserv, HDFC Bank

BusinessToday.In     March 4, 2021

The Indian benchmark indices, Sensex and Nifty, ended lower on Thursday, snapping three-day gaining streak. The BSE Sensex closed 598.57 points or 1.16 per cent lower at 50,846, NSE Nifty settled at 15,080.75, down by 164.85 points or by 1.08 per cent. HDFC Bank, HDFC, L&T, Bajaj Finserv, Axis Bank, Kotak Mahindra Bank were among top losers, while ONGC, Infosys, Sun Pharma, Mahindra & Mahindra were among top gainers.

Here's a look at top losers that led the market fall on BSE and NSE today

1. HDFC

Mortgage lender HDFC was top losers on both bourses, closing 2.55 per cent lower at Rs 2,583.20 on the BSE. The stock opened lowered at Rs 2,616.60 against previous close price of Rs 2,652.80. During the day's trade, the stock hit an intraday low of Rs 2,569, down 3.15 per cent. On Wednesday, the lender had announced cut in home loan interest rates. The lender reduced rates by 5 basis points to 6.75 per cent, effective from March 4.

2. Bajaj Finserv

Bajaj Finserv share price declined as much as 2.98 per cent to hit an intraday low of Rs 10,077.15 as investors resorted to profit booking after recent rally. Paring some of early losses, the large cap stock settled Thursday's trade at Rs 10,128, down 2.49 per cent. The market cap the Bajaj Group stock fell to Rs 1,61,174.40 crore.

3. Larsen & Toubro

L&T share price ended 2.31 per cent lower at Rs 1462.10 apiece on BSE. The stock, which was among top losers on the bourses, declined as much as 2.56 per cent to touch a day's low of Rs 1458.25. On the volume front, there was surge in selling as 3 lakh shares changed hands over the counter as compared to two-week average volume of 2.32 lakh shares.

4. Axis Bank

Axis Bank fell over 2.86 per cent in intraday trade on Thursday, in line with BSE benchmark Sensex which ended 600 points lower. The stock was among top laggards on BSE Bankex index, followed by HDFC Bank, ICICI Bank, IndusInd Bank and Bandhan Bank, among others. Axis Bank shares opened lower at Rs 732.80 against previous closing price of Rs 753.65. The market cap of the lender fell to Rs 2,25,653.74 crore.

On Wednesday, Axis Bank launched WhatsApp banking service to help customers seek information regarding their account balance, recent transactions, credit card payments, fixed and recurring deposit details, besides getting their queries answered in real-time.

5. HDFC Bank

HDFC Bank was among top laggards on the BSE, falling 2.1 per cent to close at 1553.20 apiece. During the day's trade, the stock declined as much as 2.92 per cent to hit an intraday low of Rs 1,586.45. The stocks trades nearly 6 per cent lower that its 52-week high of Rs 1,650, touched on February 24.

Also Read: Top Losers on Monday, 1 March : ONGC, M&M, Axis Bank, Bajaj Finserv, Kotak Bank

Also read: Share Market Highlights: Sensex ends 600 pts lower at 50,846, Nifty at 15,080; HDFC twins top laggards

Also read: Banking stocks fall: Axis Bank share price drops over 2%

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