Nifty 50 Losers: Adani Ports, Shriram Finance, Tech Mahindra Among Six Big Loser Stocks on Tuesday

Mumbai, May 12: Adani Ports dropped the most among Nifty 50 stocks on Tuesday, shedding as much as 4.32 per cent to ₹1,691. Port and financial services, technology and conglomerate stocks were among the worst hit as investors turned risk-off on Dalal Street amid concerns around India’s soaring current account deficit after US President Donald Trump said ceasefire in Iran was “on life support”, driving Brent crude prices past $104 a barrel, and snapping investor optimism.

Shriram Finance, Tech Mahindra, HCL Technologies, Jio Financial Services and Adani Enterprises were the other five biggest index losers on Tuesday, tumbling between 3.96 per cent and 4.31 per cent, with foreign institutional selling accelerating and funds exiting risk assets across market capitalisation categories during one of Dalal Street’s tougher midday assessments in recent trading sessions.

Here are top 6 Nifty 50 stocks that crashed hardest on Tuesday:

Adani Ports – Down 4.32%

Adani Ports and Special Economic Zone was the biggest loser in the Nifty 50 pack on Tuesday, down 4.32 per cent to ₹1,691.00 from its previous close at ₹1,767.30. It opened at ₹1,752.00 at the bell, touched an intraday high of ₹1,765.90 before trending lower to hit a low of ₹1,683.20 on continued selling. Around 34.41 lakh shares worth ₹588.30 crore traded hands during the session. Investors are worried about the Adani Group’s exposure to global trade and shipping cycles as the threat of closure of Strait of Hormuz weighs on cargo movement, with high debt in the group also coming under focus.

Shriram Finance – Down 4.31%

The second-biggest Nifty 50 loser on Tuesday was Shriram Finance, which fell 4.31 per cent to trade at ₹933.90 from its previous close at ₹975.95. It opened at ₹971.00, touched an intraday high of ₹979.95 before falling sharply to end at a low of ₹925.95 on the NSE. Around 86.74 lakh shares worth ₹818.35 crore traded hands during the session. Selling in Shriram Finance accelerated on fears of asset quality pressure building in its commercial vehicle and SME loan books amid skyrocketing fuel prices that eat into repayment abilities of truck and transport operators who are the bank’s primary borrowers.

Tech Mahindra – Down 4.21%

Tech Mahindra was the third-biggest loser among Nifty 50 stocks on Tuesday, tumbling 4.21 per cent to ₹1,396.00 from its previous close at ₹1,457.40. It opened at ₹1,447.00, touched a high of ₹1,447.00 before sliding to hit a low of ₹1,388.90 on the NSE. Around 14.75 lakh shares worth ₹206.96 crore traded hands during the session. IT stocks were under intense pressure on Tuesday as investors dumped tech stocks on fears of spending softness amid strong dollar and high macro uncertainty which is likely to affect discretionary technology spending budgets among enterprise clients. The Nifty IT index was down over 2%.

HCL Technologies – Down 4.01%

HCL Technologies slipped 4.01 per cent to ₹1,147.00 from its previous close at ₹1,194.90. It opened at ₹1,183.00, touched an intraday high of ₹1,184.00 before declining to hit a low of ₹1,142.60 on the NSE. Around 39.60 lakh shares worth ₹456.98 crore traded hands during the session. HCLTech hit another 52-week low on Tuesday amid weak risk sentiment in broader markets after Washington ended Iran ceasefire. The scrip has fallen sharply over the past few weeks as investors have been unwilling to hold IT large-caps at current valuations amid plunging rupee and poor global growth cues.

Jio Financial Services – Down 3.99%

Jio Financial Services dropped 3.99 per cent to ₹230.75 from its previous close at ₹240.33. The stock opened at ₹239.54, touched an intraday high of ₹239.95 before sliding to end at a low of ₹229.26 on the NSE. Around 2.17 crore shares worth ₹506.97 crore traded hands during the session. Jio Financial Services stock is getting hammered as it continues to remain sensitive to risk-off markets moves as the stock trades at a premium to its current earnings. Macro concerns mounted after Washington ended ceasefire in Iran which dragged oil prices higher and also pushed the rupee to a new lifetime low.

Adani Enterprises – Down 3.96%

Adani Enterprises was the sixth-biggest loser among Nifty 50 stocks on Tuesday, down 3.96 per cent to trade at ₹2,401.10 from its previous close at ₹2,500.20. It opened at ₹2,487.70 at the bell, touched a high of ₹2,511.70 before declining to hit a low of ₹2,400.10 on the NSE. Around 14.59 lakh shares worth ₹355.84 crore traded hands during the session. Shares of Adani Enterprises plunged over 3% after selling continued in conglomerate stocks on concerns over higher debt at group firms, it’s exposure to global trade and US Fed policy action amid heightened geopolitical tensions.

Sources:

• https://www.nseindia.com/market-data/top-gainers-losers
• https://www.nseindia.com/get-quote/equity/ADANIENT/Adani-Enterprises-Limited