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Front runner index stocks hiting 52-week low
Published on Tue, Jul 15 at 17:35 , Updated at Tue, Jul 15 at 18:10
Source : moneycontrol.com
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Markets plundered today on back of weak global cues, huge delivery base selling and rising concerns of crude. Both Sensex and Nifty were down with deep cut more than 4.5%. During this free fall 'A' group stocks like ICICI Bank, HDFC Bank, HDFC, Grasim, BEML, Great Offshore etc have touched their 52-week lows in today's trade. Today bears completely weighed on markets, which closed at 15-month low. All Sensex and Nifty stocks ended in red. Most beaten down sectors were banking, capital goods, metal, power, realty, pharma and oil & gas. The Sensex and Nifty both hit new 2008 lows in today's session. Main reason behind this negative sentiment across the globe was unstoppable credit crisis in US financial space despite US government's bail out package for mortgage financiers Fannie May and Freddie Mac. It was a long list of stocks which touched their 52-week low that included stocks from A group, B2 group and even from Z group.
In this bear market many front runner stocks were hitting their 52-week lows. Stocks like BEML, Canara Bank, HDFC Bank, HDFC, ICICI Bank, Reliance Infra etc. Among predominant other stocks like United Spirit, UB Holding, Phoenix Mills, Sintex India have also touched their 52-week low in today's trading session. |
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