Powergrid, NTPC And SBI Among Top Losers As Sensex Plunges On Results Day

Benchmark Indices, Sensex and Nifty, opened in the red on Tuesday and plunged more than 3% each amid the early trends in Lok Sabha election results showing the Prime Minister Narendra Modi-led BJP ahead of the majority mark but not set for a sweep as exit polls predicted.

At the time of the opening bell at 9:16 am, the Sensex fell by 1,544.14 points or 2.02% to 74,924.64 while the Nifty plunged 491.1 points or 2.11% to 22,772.80. About 891 shares advanced, 1572 shares declined, and 121 shares remained unchanged.

In the early deals at around 9:34 am, all the constituents of the Nifty50 index were trading in the red. Coal India topped the list followed by Adani Ports, Adani Enterprises, ONGC and NTPC.

The top 5 losers on the Nifty 50 index were down by up to 6.5%.

After opening lower Sensex dropped as much as 2809.48 points, or 3.67%, to an intraday low of 73,659.29 levels while Nifty declined 874 points, or 3.75% to an intraday low of 22389.85.

The top five gainers on the BSE were Hindustan Unilever, Sun Pharma, Nestle India, Asian Paints and Titan.

Here’s a look at the top 5 losers on the 30-share Sensex index at around 9:50 am, according to early trends:

Powergrid

Soon after the market opened, shares of Powergrid dropped as much as 7.95% to an intra-day low of ₹310.85 compared to a previous close of ₹337.70 apiece on the BSE. The stock opened on the BSE at ₹337.95 apiece and is currently trading around ₹314.95 apiece, down by nearly 4.93%.

NTPC

State-owned power sector player NTPC’s stock plunged more than 8.47% to an intra-day low of ₹358.75 per share against a previous close of ₹391.95 apiece. The stock opened on the BSE at ₹395 per share and is currently trading around ₹371.4 apiece, down by 5.24%.

State Bank of India

Shares of the largest public sector lender State Bank of India hit an intra-day low of ₹836.45 apiece on the BSE as the stock tanked 7.65% from the previous close of ₹905.8 apiece. The stock opened at ₹905.8 and is currently trading 4.97% lower at ₹860.8 per share.

Larsen & Toubro

Larsen & Toubro Ltd shares declined 5.78% to trade at an intra-day low of ₹3,671.95 apiece, against the previous close of ₹3,897.4 apiece. The stock opened at ₹3,869.2 apiece on the BSE. The stock is currently trading at ₹3,753.4, down by 3.69%.

Axis Bank

The stock opened lower at ₹1,223.9 apiece and slipped as much as 5.46% to an intra-day low of ₹1,157.45 apiece on the BSE in early deals. The stock was currently trading at ₹1,183.1 apiece, down 3.35%.