Biggest gainers & losers of the day: Jagsonpal Pharma jumps 20%, TCPL bleeds

Domestic equity market continued to bleed on Tuesday, even as benchmark indices staged a strong recovery from the day's lows. Volatility was high on Dalal Street tracking global cues as the tension between Russia and Ukraine escalated.

The 30-share pack Sensex dropped 382.91 points or 0.66 per cent to 57,300.68. Its broader peer, Nifty50, shed 114.45 points or 0.67 per cent to 17,092.20. Wider markets remained weak as the BSE midcap index shed a per cent, whereas the BSE smallcap index dropped over 2 per cent.

Vinod Nair, Head of Research at Geojit Financial Services said, "Escalation in Russia-Ukraine issue and a sharp surge in oil prices forced global markets to plunge. Indian equities opened with heavy losses tracking overnight fall in the global market and its adverse spill over to commodity prices."

Jagsonpal Pharma hit its upper circuit. KIOCL and Indiabulls Real Estate saw some buying. Apollo Pipes was also in demand among the investors. TCPL Packaging declined on profit booking whereas Dhanvarsha Finvest and Shriram EPC bled over weak technicals.

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

GAINERS
Jagsonpal Pharmaceutical: The smallcap pharma player hit an upper circuit of 20 per cent to Rs 245.55 after Infinity Holdings Group made an open offer to buy 26 per cent stake in the company at a price of Rs 235 per share.

KIOCL: The state owned iron ore miner surged 18 per cent to Rs 249 as it announced foundation stone laying for coke oven plant. The proposed project is for setting up of two lakh tpa ductile iron spun pipe plant under forward and 1.80 lakh tpa coke oven plant under backward integration projects at blast furnace unit.

Indiabulls Real Estate: The real estate firm rallied 10 per cent to Rs 113.70 after the company clarified that Enforcement Directorate (ED) investigation did not pertain to the company and has no bearing on its business and operations.

7NR Retail: The specialty retail chain soard over 8 per cent to Rs 19 as the company informed exchanges that it has approved the sub-division of equity shares from face value of Rs 10 each to face value of Re 1 each.

Apollo Pipes: The smallcap pipe maker added 8 per cent to Rs 492 as the counter found some buyers at lower levels after the recent correction. The scrip had dropped about 15 per cent in the last one month, which attracted buyers.

LOSERS
Yaari Digital Integrated Services: The commerce and trading player continued to tumble as it dropped another 17 per cent to Rs 66.80 after the ED raids at the Indiabulls offices. The company was formerly known as Indiabulls Integrated Services.

Dhanvarsha Finvest: The smallcap financial services player tanked 12 per cent to Rs 123.30 on the back of weak technical set up. The daily traded volume jumped manifold compared to the two week average.

TCPL Packaging: The containers and packaging player slumped 11 per cent to Rs 699 on the back of profit booking. The scrip has been high in demand since the last three day, adding more than 35 per cent during the period.

Shriram EPC: The construction and engineering company hit a lower circuit of 10 per cent to Rs 7.89 on the back of week technical set up. The daily traded volume jumped manifold compared to the two week average.

Best Agrolife: The agrochemical firm dropped another 8 per cent to Rs 884.10. The scrip has been on a downtrend lately, erasing about 20 per cent of its value in the last one month.