On November 21, 9:50 AM, several prominent stocks experienced sharp declines, with ACC Ltd, Adani Enterprises Ltd, and Ambuja Cements Ltd topping the list of losers. The broader market sentiment remained bearish, and heavyweights from the Adani Group, as well as key public sector banks, contributed to the downturn.

Top Losers Breakdown

1. ACC Ltd:

   • The cement major faced the steepest fall of the day, losing 12.04% to close at ₹1,922.45. The significant decline can be attributed to weak demand outlooks and market-wide selling pressure in the sector.

2. Adani Enterprises Ltd:

   • Shares of Adani’s flagship company fell 10%, hitting the lower circuit at ₹2,539.35. This comes amid renewed concerns surrounding the group after US bribery allegations surfaced against Gautam Adani.

3. Adani Ports and SEZ Ltd:

   • Another Adani Group company, Adani Ports, also declined sharply by 10%, closing at ₹1,160.70.

4. Ambuja Cements Ltd:

   • The cement giant saw a 10% drop to ₹494.60, mirroring broader sectoral weakness.

5. REC Ltd:

   • The stock dropped 6.88% to end at ₹481.05, with selling pressure affecting the power sector.

6. Bank of Baroda:

   • The PSU Bank fell 5.94%, closing at ₹223.10. Weak sentiment across the banking sector, especially PSU banks, weighed heavily on the stock.

7. Power Finance Corporation Ltd (PFC):

   • PFC shares declined 5.81%, closing at ₹444.00, amid concerns over rising debt levels in the power sector.

8. Punjab National Bank (PNB):

   • The stock dropped 4.63% to end at ₹96.19, reflecting sector-wide pressure on PSU banks.

9. State Bank of India (SBI):

   • India’s largest lender saw a 4.44% drop, closing at ₹767.35, as banking stocks came under pressure.

10. Canara Bank:

    • Canara Bank lost 4.23%, closing at ₹93.67, in tandem with other PSU banking stocks.

11. GMR Airports Infrastructure Ltd:

    • The stock fell 4.33%, ending at ₹77.04, reflecting concerns over growth prospects in the infrastructure sector.

Sectoral Weakness and Broader Trends

• Cement and Infrastructure Stocks: ACC Ltd and Ambuja Cements' sharp losses indicate weak demand expectations in the sector.
• Adani Group Stocks: Renewed allegations have added pressure on Adani-linked entities, with sharp declines in both Adani Enterprises and Adani Ports.
• PSU Banks: Weakness in the Nifty PSU Bank Index (-4.48%) was reflected in stocks like SBI, PNB, and Canara Bank, which saw significant losses.

Conclusion

The Indian stock market witnessed a tough day as ACC Ltd, Adani Enterprises, and Ambuja Cements led the losers’ list with sharp declines. The PSU banking sector also faced heavy selling, with SBI and PNB among the top decliners. With market sentiment remaining cautious, investors are advised to stay vigilant and follow developments closely.

The Upcoming IPOs in this week and coming weeks are C2C Advanced System, Enviro Infra, Rajesh Power Services, Rajputana Biodiesel, Rosmerta Digital, Avanse Financial and Nisus Finance.

The Current active IPO is NTPC Green Energy and Lomosaic India.

For more insights into financial trends , visit our Top News Headlines. You can also explore investment opportunities in the market and apply for upcoming IPOs through our Best IPO to Apply Now section.