India Stock Market Biggest Losers Today (December 11, 2025): IndiGo, Hubtown, Asian Paints, Bharti Airtel and More

India’s stock benchmarks bounced back on Thursday after a three-day losing streak, but several heavyweight and mid-cap names spent the session in the red. While the Sensex and Nifty 50 traded about half a percent higher through the afternoon, pockets of the market — aviation, real estate, paints, oil & gas and select financials — saw sharp selling, turning them into the day’s biggest losers. ^[1]

Here’s a deep dive into which stocks fell the most on NSE and BSE today, why they dropped, and what analysts are saying about the road ahead.

Market snapshot: Indices up, some sectors under pressure

By about 2:45 pm IST, the rebound from Wednesday’s weak close was clear:

Sensex was trading around 84,750–84,850 , up roughly 0.4–0.5% , after moving between 84,150 and 84,900. ^[2]
Nifty 50 hovered near 25,880–25,890 , up about 0.5% , with an intraday range of 25,693–25,919. ^[3]

Sectorally, metals, autos and some PSU banks led the bounce, while media, FMCG, consumer durable and oil & gas lagged. ^[4]

In the background, two big macro forces shaped sentiment:

The US Federal Reserve cut rates by 25 bps overnight — its third straight cut — which helped risk appetite, especially in rate-sensitive pockets. ^[5]
The rupee slid to a record low near 90.47 against the US dollar , raising concerns for import-heavy sectors such as airlines and refiners.

Against that backdrop, even a green index masked noticeable pain underneath.

Nifty 50 & Sensex top losers today

Despite the index gains, a clutch of large‑caps traded lower and acted as index draggers .

Key Nifty 50 losers (intraday, ~2:30 pm IST)

According to NSE loser data compiled by Financial Express and ET Now, these were among the weakest Nifty 50 names today: ^[6]

Asian Paints – around ₹2,784 , down about 0.7%
Bharti Airtel – near ₹2,054 , down roughly 0.6–0.7%
Bajaj Finance – close to ₹1,004 , off about 0.6%
InterGlobe Aviation (IndiGo) – around ₹4,789 , down roughly 0.3% on the index list but more than 3% lower at the day’s low (more on this below) ^[7]
Axis Bank – near ₹1,275 , down about 0.3%
Oil & Natural Gas Corporation (ONGC) – about ₹239 , down 0.2%
ICICI Bank – around ₹1,361 , down nearly 0.2%
TCS, Power Grid, Bharat Electronics, HUL, Apollo Hospitals, ITC – all with fractional declines of 0.1–0.4% ^[8]

On the Sensex , Moneycontrol’s top‑loser screen showed a similar mix: Asian Paints, Bharti Airtel, Axis Bank, Bajaj Finance, ICICI Bank, Power Grid, TCS, HUL and Bajaj Finserv at the bottom of the pack, most down less than 1% but still weighing on the index due to high weights. ^[9]

In short: the day’s “losers” in large caps were more about underperformance than a crash . The really painful moves were hiding in the broader market.

Biggest losers in the broader market (NSE mid & small caps)

On the NSE’s wider universe (Nifty 500 and beyond), declines were far sharper. Moneycontrol’s Top Losers – NSE (1‑Day) page at around 3 pm showed several stocks down 2–3% or more: ^[10]

Energy & commodities

Chennai Petroleum Corporation – ~ ₹916.9 , down 3.06%
MRPL – ~ ₹150.1 , down 2.30%
SJVN – ~ ₹72.1 , down 2.32%
BASF India – ~ ₹3,913 , down 2.28%
Hindustan Copper , Gujarat Fluorochemicals , EID Parry , Castrol India – each lower by around 1.4–1.8%

Real estate & building‑linked names

Sobha – ~ ₹1,408.9 , down 2.67%
Valor Estate – ~ ₹117.4 , down 2.54%
Raymond Life and Mah Seamless – off roughly 1.8%
Cera Sanitaryware , Welspun Living – down around 1.6–2.2%

Financials & consumption

AU Small Finance Bank – ~ ₹972.3 , down 2.15%
MM Financial – ~ ₹340.7 , down 1.9%
Vedant Fashions , LT Foods , ICICI Prudential Life , Gravita India – each lower by around 1.3–1.7%

Retail‑focused platform Groww’s “Top losers today” screen also highlighted names like Reliance Infrastructure, Dynamatic Technologies, Allcargo Logistics, Siemens Energy India, Websol Energy System, Refex Industries, Sobha, Sky Gold & Diamonds, CarTrade Tech and Max Estates among the largest percentage decliners intraday. ^[11]

These swings underline that pain today was much more intense in mid‑ and small‑caps than in the headline indices.

IndiGo: Guidance cut turns the stock into a high‑profile loser

What happened today

The most closely watched loser of the day was InterGlobe Aviation , the parent of IndiGo .

ET Now reported that IndiGo shares fell over 3% intraday to around ₹4,642 , before trimming losses later in the session. ^[12]
Business Standard noted that the stock has eroded nearly ₹45,000 crore in market capitalization this month , with the share price down about 19% in December even before today’s move. ^[13]

The trigger: a cut in Q3 FY25–26 guidance after a wave of flight cancellations and fresh regulatory curbs.

The new guidance

IndiGo lowered its outlook for the December quarter as follows: ^[14]

Capacity growth (ASKs) : reduced from “high‑teens” to high single‑digit / low double‑digit year‑on‑year
Passenger unit revenues (PRASK) : shifted from “flattish to slightly up” to a mid‑single‑digit decline

The airline canceled roughly 4,200–4,500 flights in the first week of December , and the aviation regulator DGCA ordered a 10% cut in IndiGo’s domestic winter schedule , denting both capacity and revenue visibility. ^[15]

IndiGo has stressed that it’s complying with the directive and will update guidance for Q4 and FY26 later, but it also admitted that the full financial impact is still hard to quantify. ^[16]

What brokers are saying

Morgan Stanley expects softer capacity growth and weaker yields in Q3, warning of higher near-term costs due to passenger support and operational issues. Still, it argues the long‑term growth story remains intact , noting that the stock trades at about 8× FY27 EV/EBITDA , slightly below its pre‑Covid median. ^[17]
Emkay Global estimates that the disruption could shave around 3% off FY26 revenue and about 17% off pre‑tax profit , given lost flights and regulatory caps. ^[18]
A separate analysis from JP Morgan , flagged by Financial Express, highlighted five key challenges for IndiGo – ranging from rupee weakness and fuel prices to regulatory uncertainty and cost pressures. ^[19]

Add in a record‑weak rupee (which inflates dollar‑linked expenses like fuel and leases), and it’s clear why the market has turned cautious on the stock, at least in the short term. ^[20]

Hubtown: Double‑digit slump after share issue gets scrapped

If IndiGo was the headline loser, Hubtown Ltd was one of the most brutal casualties in the midcap space.

Business Standard reports that Hubtown shares tanked about 11.5% intraday , hitting a low near ₹223 , before trading around ₹225.55 , still down over 10% on the BSE. ^[21]
The fall came after the company with Drew a planned preferential issue of about 1.47 crore equity shares to private investors. Despite earlier board, shareholder and exchange approvals, the prospective investors pulled out, citing volatile market conditions and the time lag since the proposal. ^[22]

Hubtown told exchanges that canceling the issue won’t materially affect its business or financial stability , and that it may explore other capital-raising routes. It also highlighted strong pre‑sales of ₹3,547 crore year‑to‑date (till 10 November 2025) and plans to merge marquee ultra‑luxury projects in South Mumbai into the listed entity, boosting its development value and inventory. ^[23]

Still, abrupt funding changes tend to spook investors in real estate stocks , where leverage and visibility of capital access are critical. That combination of funding uncertainty and profit‑booking made Hubtown one of today’s biggest losers.

Sector trends behind today’s losers

Looking across the list, a few clear patterns emerge.

1. Consumer & paints: valuation jitters and rupee worries

Both Asian Paints and Berger Paints spent the day in the red:

Asian Paints slipped around 0.7–0.9% on Nifty 50 and Sensex loser tables. ^[24]
Berger Paints lost over 2% in the broader market. ^[25]

Premium paint makers trade at rich valuations and are highly sensitive to imported raw material costs (for example, titanium dioxide and solvents), which tend to climb when the rupee weakens. With the currency at record lows and investors rotating into cyclicals like autos and metals, even small dips in these high-P/E defensives get magnified.

2. Financials: Select banks and NBFCs cool off

While Nifty Bank was up around 0.5% today, stocks like ICICI Bank, Axis Bank, Bajaj Finance and Bajaj Finserv still appeared among the day’s losers, albeit with modest declines of 0.3–0.6% . ^[26]

This looks more like short‑term profit‑taking after a strong multi‑month run than a structural shift, especially as broker commentary from the Nifty outlook piece still favors private banks as buy‑on‑dip candidates. ^[27]

3. Oil & gas and refiners: volatility after a strong run

Names such as Chennai Petroleum, MRPL, ONGC and SJVN were all under pressure today, with the first three dropping between 2–3% . ^[28]

Refining and upstream plays have rallied in recent months on robust margins and higher crude, so any combination of:

fluctuating crude prices,
a weaker rupee, and
global risk-off spells

tend to trigger swift profit‑booking in these counters.

4. Real estate & building‑linked plays: funding and rate sensitivity

Beyond Hubtown’s double‑digit fall, stocks like Sobha, Valor Estate, Raymond Life, Mah Seamless and Cera Sanitaryware were all down 1.8–2.7% today. ^[29]

Real estate names are extremely sensitive to funding conditions, interest rates and sentiment . With the Fed cutting rates but the rupee weakening and domestic bond yields still elevated, the picture remains mixed — enough to spook traders into booking near-term profits.

What analysts are saying about the road ahead

A widely read Nifty 50 technical note published this morning laid out the landscape after Wednesday’s weak close. Key takeaways: ^[30]

Support zones :
- Immediate support around 25,700 , then 25,600–25,650
- A decisive break below 25,700 could open downside toward 25,610 and 25,530
Resistance zones :
- First resistance near 25,850–25,900
- Major supply area around 26,000 , where call writers have built heavy positions

Derivatives and momentum data back this cautious stance:

Heavy call open interest at the 26,000 strike and a Put‑Call Ratio near 0.54 signal a market tilted toward sellers at higher levels.
The 14‑day RSI hovering near 40 suggests the index is in a weak but not oversold zone. ^[31]

Strategists quoted in the same note recommend a stock‑specific approach :

Look for buying opportunities in select private banks, autos and metals if Nifty holds the 25,700 support zone.
Use hedges and selective shorts to protect portfolios against a potential break of that level. ^[32]

In other words, today’s losers don’t automatically become tomorrow’s bargains — but they do hint at where risk appetite is thinning.

How investors can think about today’s biggest losers

None of this is investment advice, but if you’re tracking the day’s big decliners, a few practical filters can help:

Event‑driven vs. ordinary volatility
- IndiGo and Hubtown are classic event-driven losers : guidance cuts, regulatory action and canceled capital-raising plans have clear implications for earnings and balance sheets. ^[33]
- Stocks like Asian Paints, Bharti Airtel or ICICI Bank , by contrast, are experiencing mild rotation on a strong day for the index — the fundamental story hasn’t changed overnight.
Check the time frame A stock that’s down 2–3% today but up 50–100% over the past year (which is true for several midcaps on the loser list) may simply be seeing healthy profit‑booking , not the start of a structural downtrend. ^[34]
Watch the macro link
- Rupee‑sensitive sectors (airlines, IT, refiners, import‑heavy manufacturers) can remain volatile as long as the currency remains near record lows. ^[35]
- Rate‑sensitive pockets (real estate, NBFCs, consumer durable) will respond to how investors interpret the Fed’s cut path and the RBI’s next moves.
Liquidity & size matter Double‑digit intraday moves, like Hubtown’s 11–12% slide , are far more common in mid‑ and small‑caps than in Nifty 50 names. That’s partially a function of lower liquidity — and a reminder that position sizing and diversification are crucial in this part of the market. ^[36]
Always go beyond the loser list Top‑loser tables are a starting point for research , not a buy or sell signal. Checking company filings, recent guidance, broker reports and balance‑sheet strength is essential before making any decision.

Key takeaways from today’s losers

The headline indices are green , but under the surface the market is still choppy , especially in mid‑caps and event‑hit names like IndiGo and Hubtown. ^[37]
Nifty 50 weakness is concentrated in a handful of defensives and financials — Asian Paints, Bharti Airtel, Bajaj Finance, Axis Bank, ICICI Bank and ONGC — all down less than 1% but meaningful for the index. ^[38]
Broader‑market losers — Chennai Petroleum, Sobha, Valor Estate, Supreme Industries, MRPL, BASF India, Aster DM Health and others — saw steeper 2–3% drops, driven by profit‑booking and sector‑specific concerns. ^[39]
Technical experts still see 25,700 as the make‑or‑break level for Nifty , with 25,900–26,000 capping the upside unless fresh positive triggers emerge.