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

Introduction

Nifty 50 closed at 22,826.25 (-1.36%) while Sensex fell to 72,963.08 (-1.26%) on Sep 28, 2026, as selling pressure stayed broad-based through the session. Rate-sensitive pockets such as banks and other financials contributed heavily to the decline, with Nifty Bank down 1.75%. Volatility spiked with India VIX up 14.23% to 13.89, signalling higher demand for downside protection amid the sell-off. FII and DII flow data was not available in the provided market context.

Large Cap Top Losers

Vodafone Idea Ltd (-5.47%) Vodafone Idea slid on a high-volume risk-off session where investors cut exposure to higher-beta names as benchmark indices fell more than 1%. The stock saw heavy activity at 51.85 crore shares, indicating aggressive unwinding rather than a low-liquidity move.

Union Bank of India (-4.56%) Union Bank fell as the banking pack led the market lower, with Nifty Bank ending down 1.75% amid higher volatility. Investors trimmed PSU bank exposure in sync with the sectoral drawdown, pushing the stock lower on 88.56 lakh shares.

Adani Green Energy Ltd (-4.27%) Adani Green declined in line with a broader de-risking trade as India VIX jumped 14.23%, typically pressuring momentum and high-valuation stocks. The fall came with 19.31 lakh shares traded, pointing to active selling rather than a marginal move.

Lodha Developers Ltd (-3.96%) Lodha Developers dropped as rate-sensitive and cyclical stocks remained under pressure in a session where most sectors traded in the red. With the stock still well below its 52-week high of Rs 1,344, the move reflected continued selling in property-linked counters rather than a breakout failure.

Adani Energy Solutions Ltd (-3.94%) Adani Energy Solutions slipped as investors reduced exposure to capital-intensive infrastructure themes during a volatile down day. The stock’s decline tracked the market-wide sell-off, with 12.95 lakh shares changing hands.

Mid Cap Top Losers

Yes Bank Ltd (-5.61%) Yes Bank extended losses as financials bore the brunt of the sell-off, with Nifty Bank closing down 1.75% and volatility rising sharply. The move was backed by extremely high volumes of 12.75 crore shares, suggesting broad-based exit trades rather than a purely technical drift.

Bank of India (-5.44%) Bank of India fell alongside other PSU lenders as the banking index remained the weakest large sectoral pocket in the session. The decline came on 1.12 crore shares, signalling sustained selling through the day.

Nippon Life India Asset Management Ltd (-5.02%) Nippon Life India AMC slid as market declines typically reduce near-term sentiment for asset managers due to mark-to-market impact on AUM and lower risk appetite among investors. The stock’s 5% fall on 10.45 lakh shares mirrored the broader sell-down across financial services.

Physicswallah Ltd (-4.69%) Physicswallah fell as investors rotated away from midcap growth names during a sharp headline-index drop. The stock saw 1.15 crore shares traded, highlighting active distribution on a day when broader risk appetite weakened.

Bank of Maharashtra (-4.66%) Bank of Maharashtra declined as PSU banks traded lower with the broader banking index down sharply. Heavy turnover of 1.73 crore shares reinforced that the move was driven by aggressive selling in the sector.

Small Cap Top Losers

Kotyark Industries Ltd (-12.81%) Kotyark Industries cracked after a sharp gap-down and persistent intraday weakness, with the stock sliding close to its 52-week low zone of Rs 24.73. The fall came on elevated volume of 21.45 lakh shares, indicating forced selling and stop-loss triggers in a smallcap counter during a weak tape.

Gillanders Arbuthnot & Company Ltd (-12.02%) Gillanders Arbuthnot fell sharply in what appears to be a liquidity-driven move, with just 18.35 thousand shares traded amplifying the price impact. In thinly traded smallcaps, a limited sell queue can translate into an outsized percentage decline even without a fresh news trigger.

Hi-Green Carbon Ltd (-12.01%) Hi-Green Carbon reversed lower after recent sharp swings, with the price falling back toward its 52-week low of Rs 101.20. The drop followed a volatile run-up seen in recent sessions in the provided price history, suggesting profit-taking and risk reduction as broader markets sold off.

Paisalo Digital Ltd (-11.31%) Paisalo Digital sank despite a lack of any specific adverse disclosure in the provided context, after routine funding and corporate actions were reported, including redemption of Rs 50 crore NCDs and a Rs 20 crore commercial paper placement. The sharp decline, alongside very high volume of 3.97 crore shares, points to profit-taking and aggressive unwinding after strong longer-term gains, especially ahead of its scheduled investor conference appearance on September 29.

Arman Financial Services Ltd (-10.36%) Arman Financial dropped as financials remained under pressure and investors de-risked across rate-sensitive names amid the spike in volatility. The stock traded 2.43 lakh shares and slipped further from its 52-week high of Rs 2,159.10, reflecting active selling rather than a minor pullback.

Market Overview

Indian equities ended sharply lower on September 28, with Nifty 50 closing at 22,826.25 (-1.36%) and Sensex at 72,963.08 (-1.26%). The sell-off was accompanied by a jump in India VIX to 13.89 (+14.23%), indicating heightened uncertainty and a greater premium on hedges.

Sectoral performance reflected broad pressure, led by banks and financials. Nifty Bank fell 1.75% and Nifty Financial Services declined 1.55%, while Nifty Midcap 100 dropped 1.44%, showing the weakness was not limited to large caps.

The macro tone was also risk-averse, with the provided context pointing to Brent crude moving up to $105 and rising geopolitical tensions, factors that often push investors to cut exposure to higher-beta and leveraged pockets during already-weak sessions.

Explore More Market Movers

Readers can explore the complete list of market movers here:

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