Biggest gainers & losers of the day: New-age stocks falls to new lows; Bandhan Bank gains

New Delhi: Domestic equity markets witnessed a brutal selloff on Monday as traders pushed the panic button and everything crashed. Meanwhile, uncertainty loomed over Dalal Street with the Federal Reserve meeting scheduled to start on Tuesday.

The 30-share pack Sensex slumped 1,545.67 points or 2.62 per cent to 57,491.51. Its broader peer Nifty50 plunged 468.05 points or 2.66 per cent to 17,149.10. The broader markets underperformed benchmark indices as BSE midcap and smallcap indices dropped 4 per cent each.

S Ranganathan, Head of Research at LKP Securities, said, "Weak global cues ahead of the Fed meet saw a fierce selloff in new-age recently listed firms and stocks with high FII ownership. As the VIX rose more than 25% in late afternoon trade today, all sectoral indices were deeply in the red."


Recently-listed companies, particularly new age startups were under pressure. Nykaa, Paytm, Zomato and PB Fintech hit new 52-week lows. Shriram Properties saw profit booking. Among the gainers, agrochemical stocks saw some buying after Q3 earnings.

Let's have a look at the biggest movers and shakers of Monday's session:

LOSERS
Zomato: The food delivery platform tanked 20 per cent to Rs 91.40 following a tremendous selling pressure in the new age company due to higher valuations and a negative bottom line.

Shriram Properties: The recently listed real estate player slumped 13 per cent to Rs 96 on the back of profit booking. The scrip had zoomed 35 per cent in the last couple of weeks, which turned investors cautious over its valuations.

Nykaa: The beauty products and personal care e-commerce platform plunged in tandem with Zomato. It dropped 13 per cent to Rs 1,742.30.

Elgi Equipments: The industrial machinery player shed 13 per cent to Rs 321.15 following the resignation of its non-executive, non-independent director, who retired from the board after attaining 75 years of age.

NIIT: The IT training player plunged 12 per cent to Rs 407.95 on the back of profit booking and sharp sell off in the IT stocks. The counter had jumped about 25 per cent in the last one month and traders took some profit off the table.

PNB Gilts: The financial company dropped 11 per cent to Rs 63.50 as it posted a loss of Rs 6.14 crore in December 2021 quarter against a profit of Rs 167.06 crore in the corresponding period previous fiscal. Its revenue fell 19 per cent to Rs 262.49 crore during the period under review.

PB Fintech: The parent company of PolicyBazaar and PaisaBazaar declined another 10 per cent to Rs 775, adding another name to the beaten down startup IPOs, which were struggling to find some buyers.

GAINERS
Sharda Cropchem: The agrochemical player rallied 16 per cent to Rs 438.20 as the company's net profit doubled to Rs 48.3 in the December 2021 quarter. The company’s revenue grew by 78.2 per cent to Rs 879.8 crore in Q3.

Astec Lifesciences: The agrochemical player was in high demand despite weak broader market sentiments ahead of its board meeting to consider and approve the results for December 2021 quarter scheduled on Tuesday, January 25.

Bandhan Bank: The private lender added 4 per cent to Rs 307.40 as it reported a 36 per cent rise in net profit to Rs 858.97 crore for the third quarter as its non-interest income grew and provisions fell.