Top Losers Today 23-Oct-2026: Swiggy sinks 16%

Introduction

Nifty 50 closed at 22,568.80 (-0.52%) while the Sensex ended at 72,976.00 (-0.37%) on Friday, extending the risk-off tone as losses deepened in the broader market. Market breadth was sharply negative with 501 stocks advancing versus 3,072 declining on the NSE (as of 14:40 IST), highlighting selling beyond the benchmarks. Consumer durables, realty, defence, metals, capital markets and PSU banks were among the weakest pockets, while IT held up relatively better. FII and DII flow data for 23 October was not available in the provided exchange snapshot at the time of publishing.

Large Cap Top Losers

Adani Energy Solutions Ltd (-5.66%) Adani Energy Solutions slid in a session where infrastructure and high-beta stocks were sold as benchmarks stayed under pressure and breadth remained decisively negative. With the stock still well below its 52-week high of Rs 1,789, traders trimmed exposure as risk appetite weakened across the market. The move came on heavy activity for the counter at 32.39 lakh shares.

Adani Green Energy Ltd (-5.05%) Adani Green declined alongside other Adani group names as the market rotated away from leveraged, momentum-heavy themes during the day’s broad sell-off. The stock has retreated materially from its 52-week high of Rs 1,631.35, and the fall was accompanied by elevated turnover of 31.15 lakh shares.

ABB India Ltd (-4.95%) ABB India fell as capital goods and industrial names faced de-risking amid a broader market drawdown, with the Nifty showing limited support outside IT. The stock’s slide kept it well off its 52-week high of Rs 7,923.35, and the decline came with 4.79 lakh shares traded, signalling active distribution.

Cholamandalam Investment & Finance Company Ltd (-4.52%) Cholamandalam Investment dropped in line with financials, with Bank Nifty down 1.08% and Nifty Finance lower by 0.89% in the day’s sectoral read-through. The stock’s fall also reflects traders reducing exposure to rate-sensitive, risk-on lenders when broader market declines outnumbered advances by a wide margin.

Tata Motors Ltd (-4.43%) Tata Motors weakened as the auto pack traded lower with Nifty Auto down 1.12% amid a volatile session that erased early gains. The stock saw high participation at 87.96 lakh shares, consistent with broad-based repositioning rather than a single-stock headline in the provided feed.

Mid Cap Top Losers

Swiggy Ltd (-16.37%) Swiggy plunged after its Q2 FY27 results update, as investors focused on profitability despite strong top-line growth and positive operating metrics. The company reported revenue up 33.8% YoY to Rs 7,909 crore and adjusted EBITDA of Rs 341 crore, but the market reaction reflected concern about losses in the quick-commerce business highlighted in the post-results discussion. The stock also hit its 52-week low zone at Rs 174.90 on very heavy volume of 14.55 crore shares, indicating aggressive post-results repositioning.

PTC Industries Ltd (-5.45%) PTC Industries declined in a session when defence-linked stocks were among the weakest sectors (Nifty defence down 2.83% in the provided sector scoreboard). With no company-specific headline provided, the move looked like sector-led de-risking and profit-taking after prior outperformance.

Motilal Oswal Financial Services Ltd (-5.32%) Motilal Oswal slipped as capital markets stocks came under pressure, with the capital markets sector down 2.58% in the day’s sector readout. The fall, on 10.93 lakh shares, aligns with risk reduction in market-linked earnings plays during a broader midcap and smallcap sell-off.

360 ONE WAM Ltd (-4.94%) 360 ONE WAM fell alongside other wealth and asset management names as investors cut exposure to financial intermediaries during a weak tape. The decline tracked the day’s capital markets downdraft, with 20.93 lakh shares traded suggesting institutionally meaningful churn.

Nippon Life India Asset Management Ltd (-4.94%) Nippon Life AMC dropped as the capital markets complex corrected sharply, reflecting sensitivity to market levels and sentiment when breadth turns decisively negative. The counter saw 35.41 lakh shares traded, consistent with broad-based selling in listed financials.

Small Cap Top Losers

Jammu and Kashmir Bank Ltd (-16.26%) Jammu and Kashmir Bank fell despite reporting stronger Q2 FY27 earnings, indicating a sharp “sell-the-news” reaction in a weak banking tape. The lender posted Q2 net profit of Rs 546.36 crore (+10.6% YoY), with GNPA at 2.23% and CRAR at 16.57%, but the stock still saw heavy liquidation with 2.44 crore shares traded. It also published a newspaper notice directing investors to the reviewed financial results, keeping the results event in focus for traders.

Innovision Ltd (-12.01%) Innovision extended its slide to near its 52-week low region (Rs 187.20), pointing to a technical breakdown rather than a fresh corporate trigger in the provided news set. With relatively low volume of 63,080 shares, the sharp percentage drop also reflects thin liquidity common in smaller counters when sell orders dominate.

Varvee Global Ltd (-10.91%) Varvee Global dropped a day after reporting a Q2 turnaround, with net profit at Rs 6.78 crore and total income at Rs 27.68 crore for the quarter ended September 30, 2026. Despite the sequential improvement, the stock action suggests investors focused on the risk of volatile microcap trading and the fact that headline numbers can still see sharp one-day supply, particularly when liquidity is limited. The counter traded 1.68 lakh shares as it remained under pressure through the session.

Punjab & Sind Bank (-10.36%) Punjab and Sind Bank slid to the bottom end of its 52-week range (low Rs 18.02), extending a multi-session downtrend in the broader PSU bank space that was among the day’s weakest sectors (PSU Bank down 2.51%). With 82.69 lakh shares traded, the move reflected heavy selling as traders exited weaker relative strength names in a falling market.

Ksolves India Ltd (-10.29%) Ksolves declined to near its 52-week low of Rs 215.40, signalling stop-loss selling and technical pressure even as Nifty IT held up better than most sectors. The stock saw 3.30 lakh shares traded, indicating higher participation than usual for a smallcap move of this magnitude.

Market Overview

Benchmarks ended in the red after a volatile session: Nifty 50 settled at 22,568.80 (-0.52%) and the Sensex closed at 72,976.00 (-0.37%). The early rebound fizzled as selling broadened into mid and small caps, consistent with the day’s breadth showing far more declines than advances (501 advancing versus 3,072 declining on NSE stocks as of 14:40 IST).

Sector performance highlighted a clear risk-off rotation. IT was the relative outperformer (Nifty IT up 0.14% in the provided close snapshot), while consumer durables (-3.12%), realty (-2.89%), defence (-2.83%), metal (-2.80%), capital markets (-2.58%) and PSU banks (-2.51%) bore the brunt of the unwind. Financials were also weak, with Bank Nifty down 1.08% and Nifty Finance lower by 0.89%.

Macro cues in the provided context flagged an oil price spike linked to escalating Middle East tensions, which capped intraday recoveries and kept traders positioned defensively into the close. Official FII and DII data for 23 October was not available in the shared end-of-session context at the time of writing.

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