Tata Group cos, ONGC, TechM, Wipro are top losers on Nifty 50 this week

Jun 17, 2022

By: bhakti.makwana@timesinternet.in

Credit: BCCL

Market crash

Indian stock markets tumbled over 1,500 points this week resulting in huge selling across the board; after the US hiked interest rates aggressively due to high inflation.

Credit: BCCL

Here are top stocks among Nifty 50 that lost the most value this week only

Credit: BCCL

ONGC down 12 percent this week

Huge sell off in the markets and fall in crude oil prices to $116 from $120 earlier weighed on shares of the crude oil producer.

Credit: BCCL

Tata Companies

Shares of all Tata Group Companies including Tata Steel (-12 percent), Tata Motors (-7 percent), TCS (-7 percent) remained under pressure this week as their stock went ex-dividend on June 15.

Credit: BCCL

Tech Mahindra down 11 percent

The Pune-based IT consulting company also faced investors' rage amid talks of recession in the US market, which could lead to slowdown in the space.

Credit: BCCL

Hindalco Industries down 9 percent

The metals flagship company of the Aditya Birla was hit on falling prices of Aluminium as investors fretted over the prospect of weak economic growth affecting metals demand after renewed COVID-19 lockdowns in China and hike in interest rates.

Credit: BCCL

IndusInd Bank down 9 percent

Shares of the lender have been impacted by the heavy selloff in the market amid high inflation and fears of economic growth slowdown.

Credit: BCCL

Wipro slips 9 percent

The Bengaluru-based IT firm is another victim of weakness in the market due to rising borrowing costs and fear of potential recession in the US, the biggest market for IT firms.

Credit: BCCL

UPL down in 7 percent

Heavy selling was seen even in shares of UPL, an agriculture products and solutions company that is planning to double its biosolutions business in India over the next couple of years.

Credit: BCCL

Coal India down 4.5 percent

The government owned coal mining company’s stock slipped 6 percent amid weak risk appetite among investors and the coal crisis in the country due to lower output from some mines.

Credit: Wikipedia

HDFC, Wipro, Bajaj Auto, Dr Reddy’s among stocks to watch out for on June 17