Top Losers of the Day – SBI life, Hindalco, Reliance, HDFC life & SBI Decline on November 19, 2024

On November 19, the benchmark equity indices, BSE Sensex and NSE Nifty50, ended their seven-day losing streak and closed in positive territory. The BSE Sensex gained 239.37 points, or 0.31%, to close at 77,578.38. Similarly, the NSE Nifty50 rose by 64.70 points, or 0.28%, to end at 23,518.50.

Out of the 50 stocks in the Nifty50 index, here are the NSE top losers for the day: 

• Sbi Life Insurance Company

Sbi Life Insurance Company share price closed at ₹1,517.0, reflecting a decline of 2.92%. In Q2 FY25 results, the company’s net premium income grew by just 1% year-on-year, reaching ₹20,266 crore for the July-September 2024 period. However, first-year premium income saw a 6% rise, increasing to ₹4,915 crore from ₹4,633 crore last year. The value of new business (VoNB) went up by 2%, totalling ₹2,420 crore, with margins standing at 26.8%. 

• Hindalco Industries

Hindalco Industries share price closed at ₹638, reflecting a decline of 2%. The company reported a 123.3% increase in net profit for the second quarter ending September 30, 2024. The profit reached ₹1,891 crore, driven by strong performance in its Indian operations, favourable market conditions, and effective cost management.

• Reliance Industries

Reliance Industries share price closed at ₹1,237.40, reflecting a decline of 1.85%. 

• HDFC Life Insurance Company

HDFC Life Insurance Company share price closed at ₹679.00, reflecting a decline of 1.67%. 

• State Bank of India

State Bank of India share price closed at ₹802.40, reflecting a decline of 1.46%. On November 18, Finance Minister Nirmala Sitharaman announced that SBI will open 500 more branches, bringing its total network to 23,000 by the end of FY25.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.