Top gainers and losers, March 4: Tata Steel tanks 7%, Tata Motors PV, SBI LIC down 5%; check list

Furthermore, oil prices surged amid a rising risk of a major supply shock to global oil as exports from Iraq and Kuwait could begin shutting down within days if the Strait of Hormuz remains closed.

Rupee slumped 69 paise to an all-time low of 92.18 against the US dollar in early trade on Wednesday, as a sharp spike in crude oil prices amid geopolitical tensions following the escalation of the US–Iran conflict.

On Monday, the foreign institutional investors (FIIs) sold shares worth ₹3,295.64 crore, while the domestic institutional investors (DIIs) bought equities worth ₹8,593.87 crore on a net basis, according to exchange data.

The SENSEX crashed as much as 1,795.65 points to touch an intraday low of 78,443.20, while the NIFTY50 touched the session’s low of 24,305.40, on the back of a broad-based selloff.

The SENSEX plunged 1,122.66 points or 1.40% to close at 79,116.19. Meanwhile, the NIFTY50 tanked 385.20 points or 1.55% to settle at 24,480.50.

NIFTY50 top gainers and losers

Tata Steel dragged the NIFTY50 index, closing 7.08% lower.

It was followed by Tata Motors PV (-5.29%), SBI Life Insurance Company (-4.98%), JSW Steel (-4.67%) and Larsen & Toubro (-4.54%), which were among the top losers on Wednesday.

Larsen & Toubro came under selling pressure after geopolitical tensions in the Middle East flared up after the United States and Israel attacked Iran prompting Iranian retaliatory strikes around the Gulf. Larsen & Toubro has significant exposure and business interest across the Gulf and Middle Eastern region.

Global investment bank Macquarie, in a note, said that 37% of L&T's order book came directly from the Middle East region at the end of the third quarter, along with 33% order intake in the first nine months of the current financial year.

On the other hand, only four shares on the NIFTY50 index made it onto the top gainers list, including Bharti Airtel (1.88%), Coal India (1.85%), Infosys (1.33%) and Tech Mahindra (0.15%).

NIFTY Midcap 100 top gainers and losers

NSE’s NIFTY Midcap 100 gauge fell by 2.16% or 1,255.35 points to end at 58,085.35 on March 4.

The index was weighed down by selling in the shares of Steel Authority of India, which lost 6.76%. The other laggards were Rail Vikas Nigam (-6.38%), NMDC (-5.86%), Indraprastha Gas (-5.75%) and Bharat Heavy Electricals (-5.36%).

On the flip side, the top winners included National Aluminium Company (2.69%), as Qatalum, a major aluminium smelter jointly owned by Hydro and Qatar Aluminium Manufacturing Co., has started a controlled shutdown of its aluminium production after its gas supplier signalled a forthcoming halt in gas supply.

It was followed by Swiggy (1.89%), Oil India (0.73%), Persistent Systems (0.57%) and Coforge (0.55%).

NIFTY Smallcap 100 top gainers and losers

The NIFTY Smallcap 100 index declined by 2.11% or 350.90 points to close at 16,281.50.

Its top losers were Mahanagar Gas (-9.63%), Aegis Vopak Terminals (-7.71%), Aarti Industries (-5.76%), Jindal Saw (-5.18%) and Kalpataru Projects International (-5.18%).

On the contrary, Sagility (5.87%), Zen Technologies (4.88%), Firstsource Solutions (3.18%), Ola Electric Mobility (2.99%) and Affle 3i (2.74%) were the top gainers.

Ola Electric Mobility’s stock advanced as the company announced the start of its Roadster range at just ₹79,999, in a regulatory filing on Tuesday.