After a robust green rally in the morning, the Indian stock market turned volatile in the afternoon. The Sensex slid by 37.14 points to 76,133.94, while the Nifty dropped by 24.20 points, trading at 23,021.05, a decline of 0.11%.
In today’s trading session, the major laggards were Adani Enterprises, Hero MotoCorp, Adani Ports, Infosys, and ONGC.
Adani Enterprises
In the afternoon, share price of Adani Enterprises was one of the biggest losers, with its share price falling by over 4%. Adani Enterprises share price saw a notable stock fluctuations. The company’s market capitalisation currently stands at Rs 2.59 lakh crore, with its 52-week high at Rs 3,743.90 per share and a low of Rs 2,025 per share.
In the past five days alone, the stock declined by 3%, extending its downward trend to 27% over six months and 29% over the past year.
In a related development, Gautam Adani-owned Adani Green Energy has withdrawn from its planned $1 billion wind energy project in Sri Lanka. Adani Green Energy has decided to “respectfully withdraw” from its planned project in Sri Lanka, as per the letter shared with FinancialExpress.com, while keeping the door open for future investments.
Hero MotoCorp
Meanwhile, Hero MotoCorp’s shares price declined by 1.62%, trading at Rs 3,950.8.
Hero MotoCorp share price has hit a 52 week low today, extending its losing streak to four consecutive sessions. The stock has fallen over 7% in the past four days.
On a yearly basis, Hero MotoCorp share price has declined 16.71%.
Adani ports
Adani Ports share price saw a drop of 1.39%, trading at at Rs 1,113.45.
Adani Ports has witnessed a sharp decline of 4.72% in the past five days, extending its recent weakness. While the Adani Ports share price gained over 3.% in the past month, it remains under pressure, having dropped 25% in the last six months and 12% over the past year.
Currently trading at Rs 1,107.90 per share in the intra-day, the stock is significantly below its 52-week high of Rs 1,621.40, though still above its 52-week low of Rs 995.65.
Infosys
Infosys also underperformed, contributing to the overall bearish sentiment in the market. The shares of Infosys dropped over 1% in the todays trading session.
One of the key player in the IT sector, Infosys share price have been on a declining trend, slipping over 3% in the past five days and extending losses to 6% over the past month.
Despite the recent weakness, the IT giant has managed to post a 9.27% gain over the past year. Currently trading at Rs 1,840.65, the stock remains closer to its 52-week high of Rs 2,006.45 than its 52-week low of Rs 1,358.35, with a market capitalisation of Rs 7.64 lakh crore.
ONGC
On the other hand, the share price of ONGC also fell 1% in the intraday trading.
ONGC also hits a rough patch shedding nearly 30% in six months. In the last five day, ONGC share price plunged 5%. ONGC remains 31.8% below its 52-week high of Rs 345.00, while trading 5.5% above its 52-week low of Rs 223.00.