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Last Updated : Jan 28, 2019 12:29 PM IST | Source: Moneycontrol.com

D-Street Buzz: Over 300 stocks hit new 52-week low on NSE; pharma falls the most, Maruti at 52-week low

The breadth of the market favoured the declines with 254 stocks advancing and 1440 declining while 382 remained unchanged. On the BSE, 454 stocks advanced, 1839 declined and 116 remained unchanged.

Sandip Das @Im_Sandip1
Global tensions, and fears of an oncoming recession in the United States have led to large selloffs, wiping off significant chunks of wealth from markets across the world. The most staggering losses have been saddled by the richest people on Bloomberg’s Billionaires Index, totaling to $511 billion in 2018 alone. Read on to know whose fortunes have been dented, and by what amount.
Global tensions, and fears of an oncoming recession in the United States have led to large selloffs, wiping off significant chunks of wealth from markets across the world. The most staggering losses have been saddled by the richest people on Bloomberg’s Billionaires Index, totaling to $511 billion in 2018 alone. Read on to know whose fortunes have been dented, and by what amount.

The Indian benchmark indices were trading in the red with the Nifty down 92 points, trading at 10688 while the Sensex shed 276 points and was trading at 35741 mark.

Nifty Pharma was the biggest loser to the market fall, down over 2 percent dragged by Piramal Enterprises which fell 4 percent followed by Cipla, Aurobindo Pharma, Sun Pharma, Cadila Healthcare, Dr Reddy's Labs and Glenmark Pharma.

Bank Nifty was also trading in the red with loses from ICICI Bank which was down 4 percent followed by IndusInd Bank, YES Bank and State Bank of India.

From the PSU banking space, the top losers were Indian Bank which tanked 8 percent while Central Bank of India and IDBI Bank were the other losers.

Selective auto stocks were trading in the red led by TVS Motor, Bajaj Auto, Exide Industries, Mahindra & Mahindra, Tata Motors DVR and Bosch.

However, Nifty Media zoomed over 4.5 percent led by Zee Entertainment which zoomed 10 percent as brokerages remained positive on the stock, and after the Essel Group inked deal with lenders.

The top gainers from NSE included Zee Entertainment, Bharti Infratel, Larsen & Toubro, Tata Consultancy Services and Wipro while the top losers included Adani Ports, Indiabulls Housing Finance, ICICI Bank, UltraTech Cement and YES Bank.

The most active stocks were Zee Entertainment, Maruti Suzuki, L&T, YES Bank and ICICI Bank.

Odisha Cement and Wipro have hit new 52-week high in this afternoon session.

317 stocks have hit new 52-week low on the NSE including names like Aban Offshore, ABG Shipyard, Adani Ports, Andhra Cements, Arvind, Ashok Leyland, Balkrishna Industries, Bharat Forge, Cipla, Coal India, Dena Bank, Dish TV, Grasim Industries, Gruh Finance, HCL Infosystems, Hero MotoCorp, Vodafone Idea, IL&FS Transportation Networks, India Cements, Jindal Steel & Power, JSW Steel, Mahindra & Mahindra, Maruti Suzuki, Reliance Capital, SAIL, Snowman Logistics, Tata Steel, TVS Motor Company, Unitech and Welspun Corp among others.

The breadth of the market favoured the declines with 254 stocks advancing and 1440 declining while 382 remained unchanged. On the BSE, 454 stocks advanced, 1839 declined and 116 remained unchanged.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

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First Published on Jan 28, 2019 12:29 pm
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