Bloodbath on Street: Tata Tech among 353 stocks at 52-week lows, crash up to 20%
Veritas Advertising and Bodhi Tree Multimedia topped the list with each falling 20% to Rs 170.30 and Rs 11.7, respectively, to hit their new 52-week lows.
As many as 353 hit their 52-week lows on Tuesday as the markets crashed after the early trends suggested that the will form the government but with a lesser- than-expected majority. Shares of and saw the highest of nearly 20% each on Tuesday to Rs 170.30 and Rs 11.7, respectively, to hit their new 52-week lows.These estimates led the benchmark indices and losing over 7% each in what is the biggest fall in over 4 years. Tata group companies and shares also fell 7.8% and 5%, respectively, on Tuesday while those of fell by 7% to new on the BSE.
Bajaj Finserv shares fell 6.2% to its 52-week low of Rs 1,419. SBI Cards and Payment Services also fell to Rs 649, its new 52-week low.
Shares of other companies, including India Cements, fell to Rs 172.55, Dalmia Bharat (Rs 1,664.20), Piramal Enterprises (Rs 736.60) and Can Fin Homes (Rs 680.45) as they touched their new 52-week-low mark.
Ramco Cements, IndiaMart InterMesh, Delta Corp, Berger Paints, Syngene Technologies, Anupam Rasayan, KRBL, Eureka Forbes and LTIMindtree also made new lows.
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Nifty Bank fell to the day's low of 46,077.85 with all 12 stocks in the index trading in the red. Index heavyweights HDFC Bank and ICICI Bank were among the top three laggards and behind Reliance Industries (RIL) to have triggered the downfall.
The BSE PSU Index fell 18% on Tuesday, while the Nifty Midcap 100 index had fallen by over 7%.
While the FMCG and Healthcare indices began the day in the green, defying the broader markets, they too fell 2% and 3.5%, respectively, by 12:45 pm.
Even as the initial election verdict trends triggered a bloodbath in domestic markets, around 270 stocks, including Hindustan Unilever (HUL), Dabur, DMart, Marico, resisted the negative sentiments.
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Source: Stocks-Markets-Economic Times
