Gainers & losers: Stocks and sectors that moved the most on June 4
Every single sectoral index with the exception of FMCG closed in the red, with banks, realty, and PSU stocks falling the most. Adani group stocks too were among the biggest losers of the day.
The euphoria on Monday turned to panic overnight as the NDA coalition fell way short of the emphatic performance that the exit polls had forecast. At close, the Sensex was down 4,389 points or 5.7 percent at 72,079 and the Nifty 50 was down 1,379 points or 5.9 percent at 21,884. About 457 shares advanced, 3,243 shares declined, and 91 shares were unchanged.
2/9
Hindustan Unilever | CMP: Rs 2,492.15 | HUL shares surged six percent as trends showed that the incumbent government might not fare as well as the exit polls predicted. FMCG stocks are considered a defensive play and are likely to do well if the current government cannot enforce its growth-led policies.
3/9
Dabur India | CMP: Rs 580 | Dabur shares jumped 6.5 percent in trade as rural consumption is predicted to pick-up on a less-than-expected seat tally for the NDA coalition. The government might shift its policy stance to turn more welfare-focused, causing Dabur shares to surge.
4/9
Nestle India | CMP: Rs 580 | Nestle India gained more than three percent as the third-term for the government may not be as reform-oriented as the market expected. This belief was reflected in the strength in FMCG stocks.
Adani Stocks: Stocks of the listed group entities like Adani Ports, Adani Power, Adani Enterprises and others nosedived up to 25 percent, getting brutally hammered after experiencing substantial gains in the last couple of trading sessions. Of the Rs 30 lakh crore eroded from the market capitalisation of all listed companies on BSE, around Rs 3 lakh crore was wiped from Adani Group firms.
6/9
Defence Stocks: Shares of Hindustan Aeronautics, Bharat Dynamics, Bharat Electronics and BEML plummeted as much as 20 percent as investors rushed to take home partial profits after the recent bull run in these counters.
7/9
Railway stocks: Shares of railway companies such as RVNL, Ircon International, RITES, IRCTC fell by up to 16 percent on the counting day, as investors rushed to book profits. This reaction followed early leads that painted a different picture from exit polls, which had suggested a landslide victory for the BJP.
8/9
Banking stocks:. Shares of Bank of Baroda, PNB, SBI, Bandhan Bank, Axis Bank, IndusInd Bank, among others slipped up to 15 percent, as against 7 percent decline in the Bank Nifty index. The fall came after investors rushed to book profits after NDA-led coalition secured seats below exit poll estimates so far, while opposition I.N.D.I.A coalition exceeded exit poll predictions.
Capital goods: Stocks of BHEL, ABB India, CG Power, GM Infra, Kalpataru Projects remained under pressure, with the entire BSE Capital Goods index plummeting close to 10 percent as early trends of election results painted a weaker-than-expected win for the BJP-led NDA. The capital goods pack had been at the heart of the incumbent government's infrastructure push, making it one of the best-performing sectors in recent times.
