Top Losers Today 03-Jun-2026: IT Leads Market Drop

Introduction

Nifty 50 closed at 23,405.60 (-0.33%) while the Sensex fell 303.67 points to end at 74,346.17 (-0.41%) on 03 Jun 2026, after a volatile session that recovered from deeper intraday losses. Market breadth stayed weak with the Nifty advance-decline ratio at 10:40, underscoring broad selling pressure. The day’s biggest drag came from technology, with IT stocks reversing recent gains as the Nifty IT index shed about 5.5%. Traders also reacted to macro pressure from rising crude oil prices amid fresh US-Iran tensions, alongside continued foreign selling mentioned in market commentary.

Large Cap Top Losers

Tata Consultancy Services Ltd (-8.43%) TCS slumped after reports flagged its steepest intraday fall since March 2020, with heavy selling wiping out nearly Rs 80,000 crore in market value. The drop coincided with a sharp IT pack sell-off that erased about Rs 1.56 lakh crore in market cap across IT names, as the Nifty IT index posted its steepest fall since February. Volumes in TCS were reported near four times the average, reinforcing that institutional selling drove the move.

LTM Ltd (-6.69%) LTM fell as the broader market stayed risk-off amid rising crude oil prices and geopolitical uncertainty highlighted in the day’s market notes. With market breadth weak and benchmarks ending lower, investors reduced exposure to high-beta counters during the intraday slide and recovery. The stock also traded close to its 52-week low zone (52W low: Rs 3901.45), which typically keeps sentiment cautious during downswings.

Tech Mahindra Ltd (-6.23%) Tech Mahindra cracked as IT stocks reversed after a strong three-session run that had lifted the Nifty IT index by more than 6%, prompting profit-taking once benchmarks opened weak. The day’s sectoral move was broad-based, with heavyweight IT counters leading the decline as traders reassessed near-term demand risks referenced in market commentary. The fall came with active trading (35.95 lakh shares), indicating wide participation in the sell-down.

HCL Technologies Ltd (-5.25%) HCL Technologies declined in line with the sector-led downdraft as the Nifty IT index plunged about 5.5%, giving up most of its recent rebound. The pullback followed the prior rally in IT names, and the selling intensified as the market remained under macro pressure from higher crude and continued foreign outflows cited in reports. Volume at 50.73 lakh shares pointed to strong distribution rather than a thin trade.

Infosys Ltd (-3.82%) Infosys slid as investors booked profits across large-cap IT after the recent up-move, with the sector turning into the day’s biggest index drag. The broader sell-off in IT also reflected the risk-off tone in equities as crude stayed elevated and benchmarks finished in the red. Heavy activity (1.90 crore shares) suggested the move was driven by large institutional rebalancing.

Mid Cap Top Losers

Persistent Systems Ltd (-6.77%) Persistent Systems dropped as the sell-off in IT intensified, with the sector seeing sharp profit-taking after outperformance over the previous two trading sessions. With Nifty IT falling more than 5%, mid-cap IT names saw disproportionate cuts as traders reduced exposure to higher-volatility technology stocks. The decline came on meaningful turnover (8.26 lakh shares).

Coforge Ltd (-6.43%) Coforge slid as investors extended the IT de-risking from large caps to mid-cap service providers, mirroring the day’s sectoral breakdown. The market narrative was driven by elevated crude and a weak opening that triggered broad selling, and IT became the biggest drag as the rebound trade unwound. Volume (50.27 lakh) highlighted aggressive exits rather than a low-liquidity move.

L&T Technology Services Ltd (-5.93%) L&T Technology Services fell in sympathy with the sharp move lower in IT indices, as traders locked in gains after the recent IT rally referenced in the day’s coverage. The stock’s drop, despite relatively low volume (1.60 lakh), suggested risk reduction across the segment rather than a single stock-specific headline. The move also tracked the broader market’s lower-top, lower-bottom intraday structure cited by technical commentary.

Mphasis Ltd (-4.19%) Mphasis declined as sector-wide selling dominated trade, with IT the worst-performing group on the day. The sell-off followed the reversal of the prior three-session rise in IT stocks, indicating investors preferred to cut exposure as benchmarks struggled to reclaim key intraday levels. Trading volume of 6.17 lakh shares supported the view of broad participation.

PB Fintech Ltd (-4.06%) PB Fintech fell as high-beta growth names came under pressure during the market’s risk-off session, with investors rotating away from rate-sensitive and momentum stocks amid macro uncertainty. The benchmark indices ended lower and breadth remained weak, which typically magnifies moves in volatile mid-caps. The stock saw active trading at 40.87 lakh shares, pointing to heavy repositioning.

Small Cap Top Losers

Globe International Carriers Ltd (-19.99%) Globe International Carriers sank to a near-20% cut, consistent with a lower-circuit type move in small-cap counters when selling overwhelms bids. The fall was accompanied by very high volume (53.23 lakh shares), signalling forced unwinds or aggressive exits rather than a quiet drift. The stock is now sharply below its 52-week high (Rs 52.40), indicating the market is repricing the counter quickly.

Adisoft Technologies Ltd (-10.14%) Adisoft Technologies fell sharply as risk appetite weakened across small caps, with traders cutting positions in volatile names during the broader market’s down session. The drop came on strong volume (3.26 lakh shares), suggesting distribution rather than a low-liquidity slide. With the stock still below its 52-week high (Rs 280), the move also points to profit-booking pressure after prior run-ups.

City Pulse Multiventures Ltd (-10.11%) City Pulse Multiventures declined in a steep move despite very low traded volume (6.80 thousand shares), highlighting how thin liquidity can amplify price swings. In such counters, limited buy orders can lead to outsized declines even without a fresh headline. The stock remains well off its 52-week high (Rs 3,289.95), keeping traders sensitive to sharp drawdowns.

Novartis India Ltd (-9.47%) Novartis India retreated as traders booked profits after the stock’s strong recent run cited in market chatter around a potential promoter stake sale and parent exit-related developments. With risk-off conditions dominating the broader tape, investors typically lock in gains in stocks that have rallied sharply in recent weeks. The move came with moderate volume (62.71 thousand shares), consistent with profit-taking rather than panic selling.

Balgopal Commercial Ltd (-8.23%) Balgopal Commercial slipped on extremely thin volume (18 shares), indicating the move was driven more by illiquidity than by heavy selling. In such micro-volume sessions, even a small number of trades can shift the last traded price materially. The stock’s distance from its 52-week high (Rs 272.95) also reflects elevated volatility typical in small caps.

Market Overview

Benchmarks ended lower after a volatile session: Sensex closed at 74,346.17 (-0.41%) and Nifty 50 at 23,405.60 (-0.33%). The day’s key macro overhang was rising crude oil, with Brent cited near $15 to $17 per barrel amid renewed US-Iran tensions, raising concerns around imported inflation and pressure on the rupee. Market commentary also flagged ongoing foreign selling as an additional headwind.

Sector performance was uneven. IT was the clear drag with the Nifty IT index down about 5.5% after a strong three-session rally, indicating a sharp unwind of the short-term rebound trade. Defensive and domestic-facing pockets showed relative strength, with telecom up about 2%, PSU banks up 1.7% and healthcare higher by around 0.5%, while FMCG and realty slipped about 1% each.

Broader markets were comparatively resilient versus the IT-led hit to the benchmarks, with Nifty Midcap 100 down about 0.4% and Nifty Smallcap 100 down about 0.1%. However, breadth remained weak (Nifty advance-decline at 10:40), showing that declines were widespread even as select sectors helped limit the headline index fall.

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