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  5. Top gainers and losers on November 12: Investors lose nearly ₹3 lakh crore amid market crash; Britannia falls over 7%

Market News

Top gainers and losers on November 12: Investors lose nearly ₹3 lakh crore amid market crash; Britannia falls over 7%

Upstox
By Upstox News Desk

3 min read | Updated on November 12, 2024, 17:23 IST

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SUMMARY

All the NIFTY sectoral indices except for realty ended in the red. NIFTY PSU Bank, Metal, Auto, FMCG, and Financial Services shares declined the most. The broader market also declined, with NIFTY Midcap 100 down 1.07%, while NIFTY Smallcap 100 index is down 1.28%.

Stock list

BRITANNIA
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BEL
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TRENT
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SUNPHARMA
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Bearish Market.webp

All the NIFTY sectoral indices except for realty ended in the red. The investors lost nearly ₹3 lakh crore amid heavy selloff

Benchmark indices SENSEX and NIFTY tumbled more than 1% on Tuesday, wiping out nearly ₹3 lakh crore of investors’ wealth in a single day.

NIFTY50 tanked 257.85 points, or 1.07%, to settle below 24,000 at 23,883 as most sectors came under selling pressure. As many as 46 NIFTY stocks declined while four ended higher.

The NIFTY opened higher but later pared gains due to profit-taking by investors. Weak opening of European shares triggered selling in stocks dragging down NIFTY to the day's low of 23,839.15.

The 30-share SENSEX plunged by 820.97 points, or 1.03%, to settle at 78,675.18 points with 25 of its components ending with losses and five with gains.

According to experts, Indian stocks wilted due to unabated selling by FIIs, further triggered by aggressive ‘Trumponomics’ and the strengthening of the US dollar.

Furthermore, market sentiments are expected to remain low as India’s retail inflation soared to a one-year high of 6.21% in October 2024, well above the market expectations of 5.81%. The rise in inflation number could further prolong the expectations of eventual interest rate cuts by the RBI.

Besides this, Donald Trump's victory in the U.S. election has caused the dollar index to rise, up by 1.8% this month. Today, the dollar index increased by another 0.3% to reach 105.87, its highest level since July, putting pressure on currencies in emerging markets.

Foreign Portfolio Investors (FPIs) sell-off continues to drag markets lower and impact investor sentiment. So far in November, FIIs total outflow stood at ₹22,156 crore. In October, FIIs remained net sellers, , offloading ₹1.14 lakh crore worth of Indian stocks through exchanges.

All the NIFTY sectoral indices except for realty ended in the red. PSU Bank, metal, auto, FMCG, and financial services shares declined the most.

The broader market also declined, with NIFTY Midcap 100 down 1.07%, while NIFTY Smallcap 100 index is down 1.28%.

The investors lost nearly ₹3 lakh crore amid heavy selloff across sectors as the total market capitalisation of all BSE listed companies dropped to ₹437.06 lakh crore.

Britannia, BEL, NTPC major losers

Britannia Industries emerged as the biggest loser among NIFTY shares dropping by 7.30%. The bakery major reported a 9.4% YoY decline in net profit to ₹531.6 crore for the September quarter. Revenue increased 5.3% to ₹4,667.6 crore, missing street estimates.
Bharat Electronics declined 3.49% amid selling in PSU shares. NTPC also dropped 3.12% due to selling pressure.
Asian Paints fell by 2.86% as investors continued to book profits after its below-exportation results.
HDFC Bank shed 2.68% while SBI ,Tata Motors, Bajaj Auto, Maruti Suzuki, JSW Steel and Shriram Finance also declined more than 2%, among other NIFTY constituents.

Trent, Sun Pharma advanced

Trent rose for the second day to emerge as the biggest NIFTY gainer. The stock rose by 0.42%. Sun Pharma inched up 0.13% while HCL Technologies and Infosys also advanced.

About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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