Top Losers Today 24-Sep-2026: Financials Drag

Introduction

Nifty 50 closed at 23,062.85, down 1.64%, while Sensex fell 1.54% to 73,678.44 on September 24, 2026 as selling intensified in financial stocks. Market breadth within the Nifty 50 was weak with 9 advances versus 41 declines, while India VIX jumped 26.47% to 13.09, highlighting a sharp rise in risk aversion. The day’s biggest cuts were concentrated in lenders, NBFCs and insurance-linked names, in line with Nifty Bank ending 1.98% lower at 55,428.25.

Large Cap Top Losers

HDFC Life Insurance Company Ltd (-6.13%) HDFC Life slid as insurance and financial stocks were sold aggressively amid a broad risk-off session, with Nifty Bank ending down 1.98% and volatility spiking. The move also tracked heightened scrutiny on insurance distribution economics in the market narrative today, after proposed regulatory changes elsewhere in the insurance ecosystem triggered sharp repricing in the segment.

Bajaj Finance Ltd (-5.47%) Bajaj Finance fell in tandem with the wider sell-off in lenders and NBFCs as benchmarks hit a weak close and volatility surged (India VIX up 26.47%). The stock saw heavy churn with 1.39 crore shares traded, reflecting institution-led de-risking in rate-sensitive financials during the day.

Cholamandalam Investment & Finance Company Ltd (-5.00%) Cholamandalam Investment dropped as investors cut exposure to NBFCs during a session dominated by selling pressure in financials. With Nifty Financial Services down 1.64% and Nifty Bank down 1.98%, the stock’s decline reflected broad-based risk reduction rather than a single stock-specific headline.

Axis Bank Ltd (-4.67%) Axis Bank declined as banking names were among the biggest drags on the indices, consistent with Nifty Bank’s 1.98% fall. The stock also remained among the most actively traded large caps, with 1.20 crore shares changing hands as the sector unwind deepened.

Bajaj Holdings & Investment Ltd (-4.36%) Bajaj Holdings weakened largely in sympathy with sharp declines across key financial counters, including Bajaj Finance, which is a major underlying exposure for the holding company. Lower liquidity versus frontline lenders can amplify price moves on risk-off days, and today’s fall came on relatively modest volume of 45.17k shares.

Mid Cap Top Losers

PB Fintech Ltd (-35.98%) PB Fintech crashed after the Insurance Regulatory and Development Authority of India (IRDAI) proposed sweeping changes to insurance distribution rules, including a glide path to cap Expenses of Management, mandatory cost audits and higher disclosures. Investors sold the stock sharply because the proposals could compress distributor earnings and customer acquisition economics for insurance platforms, and the stock ended at its 52-week low of Rs 1,210 on massive volume of 2.79 crore shares.

Max Financial Services Ltd (-9.81%) Max Financial fell as insurance-linked and financial names saw heavy selling in a session where Nifty Financial Services dropped 1.64% and volatility spiked. The stock’s 1.18 crore share volume pointed to broad, high-conviction de-risking in the space rather than a low-liquidity drift.

L&T Finance Ltd (-8.92%) L&T Finance slid as the NBFC segment remained under pressure alongside the banking index, with Nifty Bank down 1.98%. The scale of trading activity was notable at 3.78 crore shares, indicating that today’s decline was driven by aggressive unwinds across rate-sensitive lenders.

Info Edge (India) Ltd (-6.01%) Info Edge declined after PB Fintech’s sharp crash reduced the mark-to-market value of Info Edge’s stake in the company during the session, prompting a spillover sell-off. The market reaction reflected investors reassessing the near-term value of listed portfolio exposure as regulatory proposals hit the insurance distribution ecosystem.

Piramal Finance Ltd (-5.86%) Piramal Finance dropped in line with broader weakness in lenders and NBFCs as benchmarks ended sharply lower and risk measures rose. With the financial complex leading the market decline, investors cut exposure to leveraged balance-sheet plays during the day.

Small Cap Top Losers

Turtlemint Fintech Solutions Ltd (-19.99%) Turtlemint plunged 19.99% to Rs 109.10, effectively pricing in a sharp repricing of fintech and insurance-distribution linked business models on a day when the broader financial ecosystem was under stress. The stock also touched its 52-week low of Rs 109.10, and the 11.26 lakh share volume underscored heavy exit orders into weak market depth.

Aastha Spintex Ltd (-9.99%) Aastha Spintex fell 9.99% even after the company announced it secured a non-cancellable greige fabric order worth about Rs 25 crore from JSK Textile LLP for roughly 750 MT to be executed over two years. The stock’s lower-circuit move suggested investors focused on the long execution timeline and near-term cash flow visibility, despite the order headline, with the day also seeing elevated activity at 39.64 lakh shares.

Eldeco Housing & Industries Ltd (-9.59%) Eldeco Housing slid to Rs 708, hitting its 52-week low, a day after the company’s AGM approved routine items including adoption of FY2025-26 audited financials and a final dividend of Rs 9 per share. Despite the dividend confirmation, the stock fell on extremely thin volume of just 1.64k shares, indicating scarce bids and poor liquidity amid a weak broader tape.

Starteck Finance Ltd (-9.01%) Starteck Finance declined sharply as risk appetite for smaller financial names weakened alongside the broader fall in banking and financial indices. The move came on negligible volume (236 shares), suggesting the drop was driven by limited liquidity and a lack of buyers rather than heavy distribution.

Megastar Foods Ltd (-7.65%) Megastar Foods dropped 7.65% as small-cap counters remained under pressure during a market-wide sell-off and rising volatility. With just 9.47k shares traded, the price action also reflected thin liquidity, where modest sell orders can materially move the stock.

Market Overview

Indian equities ended lower on September 24, 2026, with Nifty 50 at 23,062.85 (down 1.64%) and Sensex at 73,678.44 (down 1.54%). The sell-off was most pronounced in financials, with Nifty Bank falling 1.98% to 55,428.25, while volatility rose sharply as India VIX surged 26.47% to 13.09.

Sectoral performance showed broad weakness, with Nifty Financial Services down 1.64% and Midcap indices also under pressure. Market breadth within the Nifty 50 reflected a clear risk-off pattern, with 41 stocks declining against just 9 advancing.

Regulatory and macro narratives contributed to the day’s repricing in financial and insurance-linked counters, while the jump in volatility suggested traders moved to hedge exposure rather than add risk into the close.

Explore More Market Movers

Readers can explore the complete list of market movers here:

https://www.multibagg.ai/market-movers/top-gainers