Axis Bank Slides, Maruti and HCL Follow: Seven Nifty Stocks Close Lower on Tuesday

Mumbai, April 28: Selling pressure weighed on several blue-chip names on Tuesday, with seven Nifty 50 stocks recording notable declines by the close of trade. Banking, auto, and technology stocks dominated the losers’ list, reflecting a cautious session for index heavyweights.

Axis Bank

Axis Bank was Tuesday’s biggest loser on the Nifty 50, closing at ₹1,288.80 — down 2.67% from its previous close of ₹1,324.20. The private sector lender opened at ₹1,312.00 and slipped through the session, touching a low of ₹1,285.50 against a high of ₹1,321.40. The ₹35.40 gap between the opening price and the previous close signals that selling began at the very start of trade and sustained through most of the session. Volumes were heavy at 99.39 lakh shares, with total value crossing ₹1,289 crore — reflecting active institutional participation on the sell side.

Maruti Suzuki

Maruti Suzuki shed 2.51%, closing at ₹12,890 against a previous close of ₹13,222. The country’s largest passenger carmaker opened flat at ₹13,222 but came under immediate pressure, falling to a session low of ₹12,828 — a ₹394 intraday decline from the open. The high of ₹13,307 was touched briefly in early trade before the stock reversed. At 8.36 lakh shares traded worth ₹1,088 crore, the day’s volume was meaningful for a high-value stock, pointing to decisive selling rather than thin-market drift.

HCL Technologies

HCL Technologies closed at ₹1,199.80, down 2.31% from ₹1,228.20. The IT major opened at ₹1,227.90, briefly touched a high of ₹1,232.70, and then fell sharply to a session low of ₹1,192.30 before recovering marginally into the close. At 66.43 lakh shares worth ₹799 crore, it was an active session for the stock. The loss is notable coming a day after HCL Technologies’ corporate action date of April 24, likely contributing to some post-adjustment pressure.

Shriram Finance

Shriram Finance fell 2.27%, ending at ₹952.50 against a previous close of ₹974.65. The NBFC opened at ₹974.50, matched its previous close almost exactly, before sliding to a low of ₹949.30. The high of ₹979.75 was a brief intraday spike. Volumes stood at 67.52 lakh shares worth ₹648 crore above-average for the counter.

IndiGo

IndiGo closed at ₹4,465.00, down 2.11% from its previous close of ₹4,561.20. The aviation major opened at ₹4,514.80, touched a session high of ₹4,547.90 early in trade, before selling intensified and drove the stock to a low of ₹4,421.00. The ₹126 intraday range on a stock of this price reflects a volatile session. Volumes of 12.61 lakh shares worth ₹564 crore confirm sustained selling pressure through the day.

ICICI Bank

ICICI Bank closed at ₹1,289.10, shedding 1.90% from ₹1,314.10. India’s second-largest private sector bank opened at ₹1,314.30, barely moved to a high of ₹1,317.70, and then fell to a low of ₹1,286.70. With 1.67 crore shares traded worth ₹2,181 crore, ICICI Bank was the highest-value trade among the day’s losers — underlining the weight of institutional selling in the counter.

Bajaj Auto

Bajaj Auto rounded out the top seven decliners, closing at ₹9,483.00 — down 1.85% from its previous close of ₹9,662.00. The two-wheeler major opened at ₹9,622.00, touched a high of ₹9,662.50 in early trade, and then retreated steadily to a session low of ₹9,475.00. Volumes were comparatively light at 2.56 lakh shares worth ₹246 crore, suggesting the decline was driven more by a lack of buyers than aggressive selling.

Stocks That Ended Lower on Tuesday

Source:

• nseindia.com
• bseindia.com