Top Losers Today 01-Jul-2026: KPIT, IT Stocks Slide

Introduction

Nifty 50 closed at 23,865.75 (-0.34%) while the BSE Sensex ended at 76,478.7 (around -0.3%), extending losses for a second session. Market breadth stayed skewed to the downside with 1,916 declines reported, as investors booked profits ahead of the June-quarter earnings season. IT and financials were the key drags on the benchmarks, while autos held up better and pharma remained a relative outperformer in an otherwise risk-off tape.

Large Cap Top Losers

HCL Technologies Ltd (-3.46%) HCLTech fell as IT stocks led the market lower amid renewed worries that potentially higher US interest rates could delay discretionary tech spending. The stock also stayed under pressure as traders positioned cautiously ahead of the June-quarter earnings season, keeping risk appetite muted. With the price near its 52-week low zone (1030), the slide attracted momentum selling.

Tech Mahindra Ltd (-3.06%) Tech Mahindra declined in line with the broader IT pack as the session’s selling was concentrated in export-linked tech names. The market’s focus remained on client spending caution and rate expectations in the US, which typically impacts near-term deal conversions and valuation multiples for IT services. Trading volumes stayed elevated at 39.59 lakh shares, reflecting broad participation in the downgrade of the sector.

Tata Power Company Ltd (-2.72%) Tata Power slipped as investors rotated out of select rate-sensitive and capital-intensive names during a risk-off session. The stock saw heavy activity with 1.10 crore shares changing hands, suggesting the decline was driven by active repositioning rather than thin liquidity. The move also pulled the price back toward the lower end of its 52-week range after failing to sustain recent levels.

Muthoot Finance Ltd (-2.71%) Muthoot Finance dropped as financials featured among the day’s key laggards, with investors trimming exposure ahead of earnings and amid global rate uncertainty. Higher rate sensitivity in NBFC valuations often leads to sharper drawdowns when bond-yield and rate expectations rise globally. Volume of 8.86 lakh shares indicated a decisive risk reduction trade rather than a minor dip.

Polycab India Ltd (-2.56%) Polycab declined as traders booked profits near the upper end of its 52-week band (high at 10,128.60) after a strong run. With no stock-specific trigger highlighted in the day’s news flow, the move looked like a technical pullback in a market where most sectoral indices ended in the red. The stock’s fall on 3.61 lakh shares suggested steady selling through the session.

Mid Cap Top Losers

Apar Industries Ltd (-6.86%) Apar Industries saw a sharp correction as traders cut positions after the stock’s strong move over the past year, with the price still far above its 52-week low (6,800). The fall came with 2.73 lakh shares traded, pointing to active distribution rather than a gradual drift. With no immediate company-specific headline provided, the drop appeared driven by technical unwinding and profit-taking into earnings season positioning.

Coforge Ltd (-6.47%) Coforge slid as the IT selloff broadened beyond index heavyweights, with midcap IT names bearing the brunt of risk reduction. Concerns around US rate expectations and near-term discretionary spending kept pressure on the sector through the day. High volume of 49.49 lakh shares underscored a forceful exit trade.

Tata Communications Ltd (-3.17%) Tata Communications declined as investors reduced exposure to telecom and digital infrastructure plays during a market-wide pullback. The broader tape was cautious ahead of quarterly results, and the stock tracked the weakness in defensives outside pharma. Trading volumes of 4.70 lakh shares signaled sustained selling rather than a single large block.

Endurance Technologies Ltd (-3.01%) Endurance Technologies fell despite autos being relatively stronger on the day, indicating a stock-specific technical correction rather than sector leadership. The decline pulled the stock away from its 52-week high zone (3,078.95) as traders took money off the table. Low volumes of 1.03 lakh shares suggest the move was driven by incremental selling pressure.

Steel Authority of India Ltd (-3.00%) SAIL dropped as metal names remained under pressure in a session where investors avoided cyclical exposure, echoing weakness seen in other steel stocks in the broader market context. The stock saw very heavy volumes of 1.97 crore shares, pointing to aggressive selling and short-term repositioning. The decline also followed a risk-off mood ahead of earnings, when traders typically trim cyclicals.

Small Cap Top Losers

City Pulse Multiventures Ltd (-20.00%) City Pulse Multiventures hit a 20% lower circuit and marked a fresh 52-week low (₹1,308), signaling capitulation selling at the bottom of its one-year range. The sharp fall came despite a scheduled board meeting for a stock split mentioned in the available context, with the price action indicating sellers dominated and bids thinned out. Very low volume (5.75k shares) suggests liquidity dried up as the stock locked at the lower circuit.

KPIT Technologies Ltd (-16.97%) KPIT Technologies crashed after the company issued a profit warning, with reports indicating Q1 revenue could fall 1% year-on-year and Q2 may remain at similar levels. Investors reacted by repricing the near-term growth outlook for the auto-software supplier as BMW and Volkswagen spending cuts and a Europe slowdown were flagged as demand headwinds, triggering analyst target cuts. The selloff was accompanied by extremely high volume of 2.79 crore shares, showing broad-based institutional and retail exits.

Arihant Foundations & Housing Ltd (-11.47%) Arihant Foundations & Housing declined sharply as the stock remained under pressure in the absence of a fresh company-specific trigger in the provided news flow. The move pushed the price closer to its 52-week low zone (₹730.60), typically a level that accelerates stop-loss selling if breached or approached. Volumes of 73.59k shares indicated sustained selling interest through the session.

Walchandnagar Industries Ltd (-11.15%) Walchandnagar Industries slipped after failing to hold early levels and sliding toward the day’s lower range, extending a short-term drawdown highlighted in the available context. The fall coincided with heavy turnover of 43.16 lakh shares, suggesting the decline was driven by active unwinding rather than isolated trades. With no new headline catalyst provided, the price action points to a technical reversal after a strong prior run-up.

Integrated Personnel Services Ltd (-10.91%) Integrated Personnel Services dropped in an illiquid trade, with just 1.50k shares changing hands, indicating a lack of buyers rather than a news-driven repricing. In small-cap counters, such low participation often leads to sharper percentage moves when sell orders hit the market. The stock’s retreat also kept it well below its 52-week high (₹385), reinforcing the ongoing downtrend.

Market Overview

Indian equities ended lower with Nifty 50 at 23,865.75 (-0.34%) and Sensex at 76,478.7 (around -0.3%) as investors stayed cautious on global risks, including headlines around US-Iran negotiations, and booked profits ahead of the June-quarter earnings season. Concerns around potentially higher US interest rates kept pressure on export-heavy IT stocks, which were among the biggest drags.

Sectorally, IT and financials led the declines, while autos outperformed on selective stock-specific triggers and pharma held up as a defensive pocket. Market breadth was weak, with 1,916 declines indicated in the session data, reflecting selling beyond just frontline indices.

The broader narrative also reflected positioning after a strong June, with the benchmark adding about 2.3% for the month and gaining around 6.3% over the quarter as per the provided context, prompting traders to protect gains going into earnings.

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