Asian Paints shares fell drastically by 8.18%
Top Losers of Stock Market Today: The stock market opened with a big fall on Monday and finally closed completely flat. Tremendous fluctuations were seen in the market during trading today. BSE Sensex opened at 79,298.46 points on the first day of the week and reached an intraday low of 79,001.34 points and an intraday high of 80,102.14 points. However, in the end it closed at 79,496.15 points with a slight gain of 9.83 points. Similarly, NSE Nifty also opened with a decline today at 24,087.25 points and ranged from an intraday low of 24,004.60 points to an intraday high of 24,336.80 points.
Asian Paints shares fell drastically by 8.18%
In today’s volatile business, there have been shares of some companies which have seen a terrible decline and investors have suffered huge losses. While on one hand the shares of Asian Paints closed at a price of Rs 2542.65 with a huge fall of Rs 226.60 (8.18%), on the other hand the shares of Britannia also closed at a price of Rs 5425.30 with a fall of Rs 323.35 (5.62%). Closed. People who had invested money in the shares of Asian Paints and Britannia have suffered huge losses today.
Asian Paints shares made new 52 week low
Shares of Asian Paints had reached an intraday low of Rs 2507.00 during trading today, which also became its new 52 week low. The 52 week high of the company’s shares is Rs 3422.00. Britannia shares also reached an intraday low of Rs 5401.75 today. 52 week high of Britannia share is Rs 6473.10 and 52 week low is Rs 4624.00. After today’s latest fall, there has been a big decline in the market cap of both the companies. The market cap of Asian Paints has now declined to Rs 2,43,890.43 crore and the market cap of Britannia has fallen to Rs 1,30,678.28 crore.
Why such a big fall in share prices today?
Poor financial results were the biggest reason behind this huge fall in the shares of Asian Paints and Britannia. Due to poor results, foreign investors withdrew money by selling large scale stakes in these two companies. However, it is not that foreign investors have withdrawn money only from these companies. Foreign investors have been withdrawing money from the Indian market for quite some time now and this trend which started in October is continuing in November also.
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