Biggest gainers & losers of the day: Sterlite, PB Fintech bleed, Tata Elxsi zooms 10%

New Delhi: Domestic equity markets continued to decline on Wednesday amid the tensions in the Middle East which has spooked oil markets and hit global equities hard as well. IT, FMCG and financial stocks remained under selling pressure.

The 30-share pack Sensex tanked 654.04 points or 1.08 per cent to close at 60,098.82. Its broader peer Nifty50 dropped 174.65 points or 0.94 per cent to 17,938.40. The broader markets outperformed benchmark indices as BSE smallcap index settled in green.

Vinod Nair, Head of Research at Geojit Financial Services, said "Globally, risk sentiments took a blow as rising inflation resulting in elevated bond yield along with the on-going geopolitical tensions and surge in oil prices weighed on investor confidence."

Investors are reacting to the negative surprises from India Inc in the December 2021 quarter. Also, investors are cautious over the high valuations of the new age internet companies. Dilip Buildcon led the gainers, followed by Tata Elxsi and Shriram Properties.

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

LOSERS FOR THE DAY
Sterlite Technologies: The broadband technology firm tanked over 8 per cent to Rs 249.40 as it reported a consolidated loss of Rs 137 crore on account of one-time provisioning for dues from a client.

PB Fintech: The insurance and personal finance services aggregator platform dropped 7 per cent to Rs 932.50 as the investors turned cautious over the expensive startup counter, which are losing their sheen lately.

Aptech: The IT training player shed 6 per cent to Rs 39 after the company's standalone net profit almost halved in the Q3FY22 to Rs 2.36 crore from Rs 4.56 crore in the Q2FY22. On a sequential basis, the revenue of the company also dropped.

L&T Technology Services: The midcap IT player slumped 6 per cent to Rs 5079.85 on the back of profit booking following a muted set of numbers in the Q3. A number of brokerages have downgraded the stock and slashed the target prices, which has impacted the sentiments.

ICICI Prudential Life Insurance Company: The private life insurer declined 6 per cent to Rs 572 as it reported a marginal two per cent year-on-year growth in its net income to Rs 311 crore for the December 2021 quarter, despite higher sales of policies.

Shipping Corporation of India: The government has extended indefinitely the cut-off date for submission of bids for its stake in the vessel operator, according to the sources related to the matter. The scrip slumped 6 percent to Rs 127.35.

RateGain Travel Technologies: The recently listed SaaS player saw some profit booking and plunged over 5 per cent to Rs 487.30 after the company hosted a number of HNI and institutional investors in an investor/analyst meet on Tuesday.

GAINERS FOR THE DAY
Dilip Buildcon: The road and highway construction firm zoomed 12 per cent to Rs 386.90 as the company informed the exchanges that the four employees who were taken into custody by the investigating agency have been released.

Tata Elxsi: The Tata group's IT player surged 10 per cent to Rs 6980.65 after the company delivered strong and consistent growth in the December quarter, with 33.2 per cent rise in revenue growth and 43.5 per cent jump in the net profit of the company.

Shriram Properties: The recently listed real estate player zoomed 8 per cent to Rs 111.30 after the company reported a strong operational performance in December 2021 quarter, whose total collections for the current fiscal jumped 57 per cent to Rs 900 crore.

DCM Shriram: The sugar producer rose 7 per cent to Rs 1,085 as it posted a 38 per cent growth in profit after tax (PAT) for the third quarter ending December 31, 2021, at Rs 350 crore compared to that of Rs 253 crore in the year-ago period.

Sobha: The real estate firm rallied more than 6 per cent to Rs 1,022.20 ahead of its virtual investor/analyst meet scheduled on January 25, 2022 with Spark Capital Advisors.