Biggest gainers & losers of the day: Indiabulls stocks bleed; realty counter sees selling

New Delhi: Domestic equity markets kicked off the week on a weak note, thanks to the selling pressure in metals and pharma stocks. Also, the situation between Russia and Ukraine remained critical at the global level. Market erased all the gains it registered during the afternoon session.

The 30-share pack Sensex dropped 149.38 points or 0.26 per cent to 57,683.59. Its broader peer, Nifty50, shed 69.65 points or 0.4 per cent to 17,206.65. Broader markets underperformed as the BSE midcap index shed a per cent, whereas BSE smallcap index dropped over 2 per cent.

Vinod Nair, Head of Research at Geojit Financial Services said, "Domestic indices started weak taking cues from negative global peers but in between recouped most of its losses on reports of likely meeting between Biden and Putin over the Ukraine issue. Investors stood sidelined impacting volumes,"

Indiabulls stocks and the former group companies were under pressure following the IT raids. Real estate stocks bleed including Indiabulls Real Estate, Puravankara and Soril Infra. R Systems dropped despite decent Q3 numbers. Among the gainers, hotel stocks continued to find buyers.

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

LOSERS
R Systems International: The IT consulting and software player tanked 17 per cent to Rs 220.45 as the counter continued to decline, despite reporting a 12 per cent rise in the net profit to Rs 32.79 crore in the December 2021 quarter.

Indiabulls Real Estate: The smallcap real estate player plunged more than 15 per cent to Rs 103 as the Enforcement Directorate (ED) conducted raids at the offices of Indiabulls Finance Centre in Mumbai and Delhi in connection with a Prevention of Money Laundering case lodged against the company and its promoter Sameer Gehlaut in April 2021.

Elgi Equipments: The compressors maker for the Indian Railways dropped 13 per cent to Rs 343.05 as the profit booking continued at the counter. The scrip has been under selling pressure lately.

Puravankara: The smallcap real estate player slumped 12 per cent to Rs 105.60 even after the company reported a strong Q3 performance. Sales bookings rose 17 per cent to Rs 666 crore in the third quarter of this fiscal year on the back of higher volumes as well as per square feet price realisation.

Yaari Digital Integrated Services: The commerce and trading player tumbled 11 per cent to Rs 66.80 after the ED raids at the Indiabulls offices. The company was formerly known as Indiabulls Integrated Services.

GAINERS
Salasar Techno Engineering: The construction and engineering player zoomed 17 per cent to Rs 255.15 on the back of strong technical set up on the daily charts. The daily traded volume of the counter jumped manifold compared to the two week average.

Chalet Hotels: Hotel stocks were high in demand, supported by heavy volumes, on expectation of a strong outlook. The scrip rallied 13 per cent to Rs 283.75, hitting a new 52-week high during the session.

Linde India: The industrial gases play advanced 10 per cent to Rs 2,966.75 ahead of its board meeting scheduled on Thursday, February 24, to consider and approve the year ended on December 31, 2021 and to recommend dividend, if any.

TCPL Packaging: The smallcap containers and packaging player advanced 9 per cent to Rs 781.75 on the back of healthy growth outlook. The scrip has been high in demand since the last three day, adding more than 35 per cent during the period, scaling a new 52-week high.

Butterfly Gandhimathi Appliances: The kitchenware maker added another 8 per cent to Rs 1,377.40 following the media reports that a number of buyers including Havells India and Crompton Greaves are interested in its acquisition.