Top Losers Today 28-Apr-2026: Stocks Under Pressure

Introduction

Nifty 50 closed at 23,969.55 (-0.51%) while Sensex declined 445 points to 76,858.63 (-0.58%) on 28 April 2026, as investors cut exposure to rate-sensitive and high-beta pockets. PSU banks and real estate names dominated the losers list, while metals and oil and gas stocks held up better amid firmer crude prices. FII selling of ₹1,151.48 crore on April 27 continued to weigh on risk appetite even as DIIs bought ₹4,123.92 crore.

Large Cap Top Losers

Union Bank of India (-3.07%) Union Bank fell as the PSU Bank index slid nearly 2%, with investors pricing in weaker treasury performance after reports that trading losses and low treasury income hurt banks in Q4. The stock also tracked broader risk-off cues as crude prices stayed elevated amid the Iran-US conflict, raising inflation and rate uncertainty.

Axis Bank Ltd (-2.65%) Axis Bank declined after its Q4 results triggered a focus on higher provisions, with market commentary flagging that provisions “cast a shadow” despite numbers broadly in line with expectations. The reaction was amplified by weakness across financials on a day when investors rotated away from banks.

HCL Technologies Ltd (-2.64%) HCL Tech slipped as global risk appetite weakened and Nasdaq futures were lower, prompting cuts in IT exposure despite the sector’s defensive tag in India. The stock also ended near its 52-week low zone (₹1,193), which kept sellers in control into the close.

Interglobe Aviation Ltd (-2.59%) InterGlobe Aviation (IndiGo) dropped as crude prices firmed again, with Brent near a three-week high in the session, raising concerns around aviation turbine fuel costs. Airlines typically react quickly to oil spikes because fuel is a major operating cost and can compress near-term margins.

Maruti Suzuki India Ltd (-2.53%) Maruti fell after Q4 results showed profit of ₹3,591 crore, undershooting the Street estimate of ₹4,279 crore, even as revenue of ₹52,449 crore was above the estimate of ₹51,486 crore. Investors marked the stock down as the earnings miss revived concerns around margin pressure and cost pass-through.

Mid Cap Top Losers

SBI Cards & Payment Services Ltd (-3.47%) SBI Cards fell after its Q4 results, with market coverage noting brokerages were divided between Buy, Hold and Reduce recommendations even though profit rose about 14%. The stock’s slide signalled that investors were more sensitive to forward indicators and valuation debate than the headline profit growth.

Thermax Ltd (-3.41%) Thermax retreated from near its 52-week high (₹4,174.50) as traders booked profits after a strong run-up. The move also fit the day’s broader risk-off tape, where midcap industrials saw sharper cuts on limited liquidity.

Laurus Labs Ltd (-2.75%) Laurus Labs declined despite a relatively steady pharma backdrop, suggesting stock-specific profit booking after the scrip hovered close to its 52-week high (₹1,140.90). Heavy volumes of 21.48 lakh shares indicated institutional churn rather than a low-volume drift.

Dalmia Bharat Ltd (-2.63%) Dalmia Bharat slipped as construction-linked names weakened alongside real estate, one of the day’s underperforming pockets. With the broader market down and rate sensitivity back in focus, investors pared exposure to cement stocks.

NTPC Green Energy Ltd (-2.60%) NTPC Green Energy eased after trading close to its 52-week high (₹119.88), pointing to profit-taking in high-momentum renewable plays. The stock also saw heavy activity at 1.34 crore shares, indicating active distribution into late-session weakness.

Small Cap Top Losers

Balgopal Commercial Ltd (-11.93%) Balgopal Commercial slid sharply in a thinly traded session with just 18.13 thousand shares changing hands, which can magnify downside when sell orders dominate. The stock remains far below its 52-week high (₹272.95), and the lack of incremental news left price action driven primarily by liquidity.

Emami Realty Ltd (-9.99%) Emami Realty dropped as real estate stocks stayed under pressure in the broader market, with rate-sensitive pockets seeing sustained selling through the day. The decline also followed a sharp recent run-up shown in recent trading statistics, encouraging profit booking as the price moved close to the lower end of its circuit band.

Vivid Electromech Ltd (-9.34%) Vivid Electromech extended its decline as the stock cooled off after trading near its 52-week high (₹737.90), suggesting a profit-taking phase. The fall on moderate volumes (49.92 thousand shares) pointed to seller-led price discovery rather than a one-off block.

Unicommerce eSolutions Ltd (-9.18%) Unicommerce fell after its Q4FY26 update showed margin pressure, with EBITDA down 14.8% to ₹6.9 crore and EBITDA margin reduced to 13.37% as the company stepped up investments in Shipway. While revenue came in at ₹51.6 crore and PAT at ₹3.4 crore, investors sold the stock because the near-term profitability profile weakened.

Lux Industries Ltd (-8.63%) Lux Industries sank after a sharp reversal from near its recent highs, indicating aggressive profit booking in a volatile tape. Trading volumes of 2.39 lakh shares underscored the intensity of the sell-off as the stock moved away from its 52-week high zone (₹1,679.50).

Market Overview

Benchmarks ended lower after Monday’s sharp rebound, with Nifty slipping below 24,000 and Sensex down over 400 points amid renewed uncertainty around the Iran-US conflict. Crude remained firm, with Brent near a three-week high during the session, a macro input that typically pressures rate-sensitive sectors and raises concerns around inflation.

On the sectoral front, metals and oil and gas outperformed, while PSU banks and real estate were among the key laggards. Financials were also influenced by commentary that trading losses and low treasury income dented banks’ Q4 profitability, while global cues were cautious with US equity futures and broader EM indicators soft.

Flows stayed a swing factor: FIIs were net sellers of ₹1,151.48 crore on April 27, while DIIs bought ₹4,123.92 crore, helping limit broader damage even as stock-specific earnings reactions drove several sharp declines.

Explore More Market Movers

Readers can explore the complete list of market movers here: https://www.multibagg.ai/market-movers/top-gainers