Unlucky Losers: Zomato, Eicher And Fortis Trade In Red On Day Of Major Gains In The Market

The exit polls that came to pass on June 1, post the seventh and last phase of the election on June 1. These exit polls corroborated the assumption of most observers that the Modi-led NDA will return to power in the country, for the third straight term.

Some Companies Slump Amid Rally

After these developments, when the indices opened on Monday, June 3, the markets reacted to the numbers with absolute euphoria, as, in a first, the Indian indices opened at a record high. Sensex at 76,529.50, up by 2568.19 points, and Nifty at 23,109.40, up by 578.70 points.

But, as of the halfway mark today, there were some unlucky losers, who, amid the green bloom, were dipped in red. These companies, unlike most of their listed counterparts, were trading with a deficit.

Some of them are renowned companies, big names, that has left observers surprised. Among them stood delivery and quick service company Zomato, which was trading at a deficit of 1.40 per cent, reaching Rs 176.65  (12:28 IST).

Markets Bloom In Exit Poll Bliss

Then came mobility giant Eicher Motors, which was also trading in red with a drop of 1.23 per cent reaching Rs 4,675 (12:33 IST). Then, in line of the lucky losers came Fortis Hospital, whose share prices sank 2.63 per cent in the intraday trade. The share of the company reached Rs 462.60 (12:39 IST).

Tobacco company, Godfrey Philip also sank 2.48 per cent, taking the share price to Rs 3,786.00. Meanwhile, McDonald's franchise operator in some part India, Westlife also slumped by 0.90 per cent, taking the value of share price to Rs 823.00. 

At 12:51 IST, BSE Sensex was trading at 76,200.34 points, gaining 3.03 per cent or a mammoth 2,232.41 points. NSE Nifty gained 3.03 per cent or 681.60 points, reaching 23,212.30. In addition, Nifty Bank also gained 3.80 per cent or 1,859.35 points, reaching 50,843.30.