New Delhi: Domestic equity markets bled heavily on Thursday, following an across-the-board selloff amid the monthly expiry of F&O contracts and weak global market cues. Furthermore, relentless selling by FIIs also contributed to the market correction.
The 30-share Sensex tanked 1,159 points or 1.89 per cent to close at 59,985. Its broader peer Nifty50 declined 354 points or 1.94 per cent to 17,857. Broader markets bled over a per cent each but outperformed their headline peers.
Investors punished the companies reporting poor performance in the September 2021 quarter. Bluechips like ITC and Kotak Mahindra Bank were hit hard. Meanwhile, it has become very difficult to find money-making ideas at these levels.
Let’s have a look at the biggest movers and shakers of Thursday’s session:
Losers for the day
HIL: The cement products maker tanked 13 per cent to Rs 4,499 after the company posted a disappointing set of numbers in Q2. The company recorded a fall of 72 per cent year-on-year (YoY) fall in the net profit at Rs 26.11 crore in the September 2021 quarter.
Adani Enterprises: The Adani Group firm reported a 55.3 per cent decline in consolidated profit at Rs 194.54 crore for the quarter ended September, hit by higher expenses. Consequently, the stock plunged 11 per cent to Rs 1,392.95.
Punjab National Bank: The public lender fell 11 per cent to Rs 41.35 despite reporting a 78 per cent rise in net profit to Rs 1,105 crore for the second quarter ended on September 30. The PSU lender’s total income and operating profit declined during the quarter.
Tata Chemicals: The shares of Tata Group chemical company declined 11 per cent to Rs 892.50 even as it posted an 88 per cent jump in its consolidated net profit at Rs 248 crore in the second quarter of the financial year 2021-22, mainly due to a rebound in soda ash volumes in the US and India.
Vaibhav Global: The accessories player shed 10 per cent to Rs 625 after the flop show in September 2021 quarter. The net profit of the company tanked 40 per cent YoY to Rs 42.18 crore in Q2FY2022.
IRB Infrastructure Developers: The shares of road and highway maker declined 10 per cent to Rs 239.35 after its board approved fundraising of up to Rs 5,347 crore by issuing 252.45 million equity shares through the preferential issue on a private placement basis.
Gainers for the day:
IRCTC: The shares of railway ticketing monopoly company turned ex-split on Thursday, following which they soared 11 per cent to Rs 913.75. The company today in an exchange filing said that the Ministry of Railways has through a letter asked the company to share 50 per cent of the revenue from the convenience fee with it.
Gokul Agro Resources: The edible oil maker hit a 10 per cent upper circuit at Rs 57.90 after the company approved the issuance of equity shares on a private placement basis to the promoter in its extraordinary general meeting.
Sanghvi Movers: The transport-related service player added 9 per cent to Rs 203.45 on the back of a strong technical set-up. The daily traded volumes jumped manifold compared to the two-week average.
Sona BLW Precision Forgings: The auto components maker surged 8 per cent to Rs 667.30 after the company reported a 22 per cent increase in its consolidated net profit to Rs 88.2 crore for the second quarter ended on September 30.Internet Explorer Channel Network