Top Nifty 50 Losers of May 6: ONGC leads Nifty Laggards with 3% Drop; Reliance, Power Grid, NTPC, L&T also slip Mumbai, May 6: ONGC was the steepest Nifty 50 decliner on Wednesday, falling 3.12% to close at ₹280.9 as softening crude oil prices — triggered by US President Donald Trump’s announcement of a pause in the Strait of Hormuz escort operation — weighed on energy sector stocks. Reliance Industries, Power Grid Corporation, NTPC, Larsen & Toubro, Hindalco Industries and Coal India also featured among the seven biggest Nifty 50 losers of the session, declining between 0.85% and 1.70% in a day where the broader index advanced sharply but sector-specific headwinds kept these counters in the red. ONGC — down 3.12% ONGC was the biggest laggard on the Nifty 50 on Wednesday, tumbling 3.12% to close at ₹280.9 on the NSE. The PSU oil producer ONGC share price opened at ₹289.95 — exactly at its previous close — and sold off progressively through the session, touching an intraday low of ₹280 before settling marginally above that level, with the high for the day a mere ₹290.25. The decline was directly linked to the easing in global crude oil prices, with Brent falling over 1.3% and WTI slipping below the ₹100-per-barrel threshold, which directly pressures upstream oil producers’ earnings outlook. ONGC traded 2.29 crore shares worth approximately ₹648.71 crore during the session, reflecting heavy exit volumes as traders repositioned away from oil-sensitive names. Reliance Industries — down 1.70% Reliance Industries shed 1.70% on Wednesday to close at ₹1,438.7, slipping from its previous close of ₹1,463.6. The conglomerate opened at ₹1,463, briefly touched an intraday high of ₹1,473.3 in early trade before turning lower, declining to a session low of ₹1,427.5 as selling emerged in its oil-to-chemicals business vertical amid the crude price retreat. Reliance was the most actively traded stock among the day’s Nifty 50 losers by value, with 1.42 crore shares changing hands worth approximately ₹2,054.19 crore, underscoring the weight of institutional activity in the counter even on a down day. Power Grid Corporation — down 1.46% Power Grid Corporation share price declined 1.46% on Wednesday to close at ₹314.8, retreating from its previous close of ₹319.45. The PSU transmission utility opened at ₹320.05 and quickly ran into selling pressure, falling to an intraday low of ₹314.6 before settling near that level, with a session high of ₹321.5. A total of 48.84 lakh shares worth approximately ₹154.69 crore were traded during the day, with the stock’s decline reflecting the broader profit-taking seen in defensive utility counters as investors rotated into higher-beta names like aviation and financials. NTPC — down 1.14% NTPC share price slipped 1.14% to close at ₹394.1 on Wednesday, falling from its previous close of ₹398.65. The state-run power generator opened at ₹400, briefly crossed the day’s high of ₹403 in early trade before retreating steadily through the session to an intraday low of ₹391.65. Volume stood at 1.11 crore shares with a total traded value of approximately ₹440.62 crore, as the utility sector came under mild pressure from profit-booking following a multi-session run-up, even as the broader market surged on the back of improved geopolitical sentiment. Larsen & Toubro — down 1.03% Larsen & Toubro share price declined 1.03% on Wednesday to close at ₹4,012.6, easing from its previous close of ₹4,054.5. The infrastructure and engineering conglomerate opened at ₹3,974 — a gap-down from Tuesday’s close — and touched an intraday high of ₹4,021 before broadly consolidating through the session with a low of ₹3,900. L&T was the most valuable stock among the day’s losers by traded value, with 95.40 lakh shares changing hands worth approximately ₹3,765.83 crore, with continued institutional churn the dominant theme for the counter during the session. Hindalco Industries — down 1.01% Hindalco Industries share price fell 1.01% on Wednesday to close at ₹1,044, giving back gains from the previous session when it had advanced among the Nifty’s top movers. The metals major opened at ₹1,067.8, touched a brief high of ₹1,073.7 in early trade before reversing lower, falling to a session low of ₹1,042.4 on selling linked to mixed global metals cues. Volume was 53.37 lakh shares worth approximately ₹563.83 crore. The stock’s slide from a previous close of ₹1,054.7 represents a reversal of some of the prior session’s advance, with the metals sector broadly giving back a portion of its recent gains as traders took profits. Coal India — down 0.85% Coal India rounded out the seven biggest Nifty 50 losers on Wednesday, easing 0.85% to close at ₹468.6 from its previous close of ₹472.6. The PSU mining major opened at ₹473.85, touched a session high of ₹477.5 in early trade before drifting lower through the day to a low of ₹468.05 as energy sector sentiment remained subdued amid the crude price correction. A total of 85.97 lakh shares worth approximately ₹405.97 crore were traded during the session, reflecting steady but not excessive selling in a stock that has seen significant volatility through the ongoing Middle East-driven commodity cycle. Source: https://www.nseindia.com/market-data/top-gainers-losers