PFC, REC, Adani stocks among top losers, share prices fall up to 20%
Shares of companies like PFC, REC Ltd, and Adani Ports plummeted in today's market turmoil due to poor Lok Sabha election results for the Narendra Modi-led NDA government.
Shares of such as , and suffered the worst hit in today's mayhem which witnessed a massive selloff on the back of a poor showing by the Narendra Modi led NDA in the , results for which were trickling in early in the day.PFC and Ltd fell nearly 20% to Rs 443.85 and Rs 485 respectively while companies like , , Green Energy, Titagargh Rail and Adani Total Gas also witnessed an over 15% crash so far in the day.
Shares of Ambuja Cements, Adani Enterprises, Vodafone Idea, Indus Towers, Adani Ports, BEL, GAIL, Hindustan Copper, BHEL, Adani Power, Hindustan Aeronautics, Bank of Baroda fell over 14% on NSE today.
Among the lot, Adani Ports and Adani Enterprises experienced the highest of 19.4% and 15% respectively, while PSUs NTPC, ONGC and Powergrid were down by over 14%.
The was also down by nearly 14% with all its constituents falling over 7% today while all Adani were also in red.
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As of 11:40 am, the BSE was trading nearly 3,700 points, or 4.6%, lower at 72,947 while The Nifty50 was down 990 points, or 4.30%, trading at 22,268.
Fear index VIX witnessed its highest single-day gain in 9 years jumping by nearly 37% on an intraday basis to the day's high of 28.62. The gains were seen after counting trends showed a strong fight back by the INDIA Alliance though BJP still managed to cross the majority mark.
Amid the bloodbath on the D-street, FMCG, pharma and healthcare stocks like DMart, Hindustan Unilever, Max Healthcare, Marico and Colgate-Palmolive managed to show gains of up to 3%.
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