Wipro Ltd. Stock Decline in Nifty 50 on Today’s Dismal Performance: October 19, 2023

Wipro Ltd. Stock Decline in Nifty 50 on Today's Dismal Performance: October 19, 2023
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Today, on October 19, 2023, Wipro Ltd., a significant player in the IT software and IT consulting industry, faced an eventful day in the stock market. This post offers an in-depth analysis of Wipro’s stock performance on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), providing insights into price movements, trading volumes, and key observations.

NSE :Wipro Ltd. Stock Performance On Today

  • Current Stock Price: ₹395.30
  • Change Today: -₹12.15 (-2.98%)
  • Previous Close: ₹407.45
  • Opening Price: ₹391.95
  • High Price Today: ₹396.75
  • Low Price Today: ₹390.10
  • Volume: 1,28,10,239 shares
  • VWAP(R) (Volume-Weighted Average Price): ₹394.24

Wipro’s stock is currently at ₹395.30, experiencing a substantial decrease of -₹12.15, marking a 2.98% decline.The previous closing price was ₹407.45, and the opening price today was ₹391.95.Unfortunately, the stock reached a high of only ₹396.75 and hit a low of ₹390.10 during the trading session.The day’s volume was notably high at 1,28,10,239 shares, with the VWAP(R) at ₹394.24.

BSE :Wipro Ltd. Stock Performance On Today

  • Current Stock Price: ₹395.00
  • Change Today: -₹12.40 (-3.04%)
  • Previous Close: ₹407.40
  • Opening Price: ₹393.00
  • High Price Today: ₹396.80
  • Low Price Today: ₹390.10
  • Volume: 4,21,745 shares
  • VWAP(R) (Volume-Weighted Average Price): ₹394.17

On BSE, Wipro’s stock is at ₹395.00, witnessing a substantial decrease of -₹12.40, indicating a 3.04% decline.The previous closing price stood at ₹407.40, and the opening price on BSE was ₹393.00. It’s concerning that the stock’s highest price today reached just ₹396.80, while the lowest was ₹390.10.The trading volume on BSE was 4,21,745 shares, and the VWAP(R) was ₹394.17.

Wipro Ltd. as the Top Loser in Nifty 50 on October 19, 2023:

On this day, October 19, 2023, Wipro Ltd. found itself in the challenging position of being the top loser in Nifty 50. This designation underscores the stock’s performance in the stock market, indicating a day of notable decline and providing a candid view of the stock’s challenges in today’s trading session.

In a dynamic and ever-changing market environment, Wipro Ltd. faced a day marked by significant downward movement in its stock value. This not only reflects the challenges that Wipro encountered but also sheds light on the broader market trends and factors that influenced its performance.

Reasons for Wipro Ltd. Stock’s Poor Performance:

Earnings Disappointment: Wipro’s stock faced a significant downturn following lower-than-expected earnings in the September quarter. The company reported a consolidated net profit of Rs 2,667.3 crore, marking only a modest 0.70% year-on-year (YoY) increase.

This underperformance in profit growth raised concerns among investors and analysts, contributing to a decline in the stock’s value.

Cautious Q3 Guidance: Investor sentiment was further dampened by Wipro’s conservative outlook for the upcoming Q3. The company’s less optimistic projections for the next quarter added to the skepticism surrounding the stock.

Brokerage Sentiments: Prominent foreign and domestic brokerages expressed reservations about Wipro’s stock, reflecting the data-driven concerns. Citi’s ‘Sell’ recommendation, BofA’s ‘Underperform’ view, Nuvama’s reduced price target, and ‘Hold’ rating collectively indicated a lack of confidence in the stock’s potential, aligning with the data-driven market analysis.

Geopolitical Turmoil, Poor Weekly Performance and Price Range: The ongoing Israel-Hamas conflict introduced uncertainty into global markets, significantly impacting Wipro’s stock. This was evident in the stock’s poor weekly performance, with a substantial -6.24% decrease, underlining the inherent market volatility.

During this period, the stock experienced a high of 421.80 and a low of 393.30. These intertwined factors collectively contributed to Wipro’s recent underperformance.

While they don’t provide absolute assurances, they do instill confidence in the stock’s performance. Investors and analysts can use these indicators as positive guides while considering various other factors, including market sentiment, economic conditions, and company-specific news, in their investment decisions.


Why did Wipro’s stock decline by 3% on October 19, 2023?

Wipro’s stock faced a 3% decrease due to lower-than-expected earnings in the September quarter.

How many shares were traded for Wipro on the National Stock Exchange (NSE) on today?

A total of 1,28,10,239 shares of Wipro were traded on the NSE on October 19, 2023.

What was the highest price Wipro’s stock reached during the trading session on October 19, 2023?

Wipro’s stock reached its highest price at ₹396.80 during the trading session on that day.

What were the opening prices of Wipro’s stock on both NSE and BSE on October 19, 2023?

The opening price on NSE was ₹391.95, and on BSE, it was ₹393.00 on today.

What caused Wipro’s stock to be designated as the top loser in Nifty 50 on October 19, 2023?

Wipro’s stock faced this designation due to a challenging day marked by significant downward movement, attributed to disappointing earnings and cautious Q3 guidance.


The information provided in this blog is for general informational purposes only and should not be considered as professional financial or investment advice. Always conduct thorough research and seek advice from a qualified financial advisor before making any investment decisions. The blog author and publisher are not responsible for any actions taken based on the information provided in this blog. Any reliance on the content is at your own risk. Remember that the financial markets can be volatile, and past performance is not indicative of ture results. The company mentioned in the blog may have undergone changes or developments that are not reflected here. Please verify the information with credible sources before making any financial decisions.

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