More than 260 stocks hit 52-week low, 450 stocks hit lower circuit today

The downward development continued on Dalal Road for the fourth consecutive session on Might 11. Greater than 260 shares on the BSE hit 52-week low and the variety of shares at decrease circuit have been considerably larger than the shares that hit higher circuit.

Countless Ukraine-Russia warfare igniting inflation issues and development worries, quicker coverage tightening method adopted by a number of central banks, together with Federal Reserve, the start of charge hike cycle in India, constant FII promoting, rupee depreciation, and inflation issues seen in company earnings are a number of the causes for the nervousness among the many traders.

The BSE Sensex fell under 54,000-mark within the morning however later pared losses to commerce 276 factors decrease at 54,088. In the meantime, the Nifty50 briefly traded under the psychological 16,000-mark however recouped a few of losses to commerce at 16,167, down 73 factors.

The benchmark indices have now fallen greater than 10 p.c every from the closing excessive of April 4. In the meantime, the BSE Midcap and Smallcap indices have declined 13 p.c and 15 p.c, respectively, from the closing excessive of April 11.

On Might 11, greater than 260 shares hit 52-week low in opposition to simply 51 shares at 52-week excessive, together with 120 shares are from ‘A’ Group and round 90 shares from ‘B’ Group.

3M India, Aarti Medication, Aarti Industries, Ajanta Pharma, Amara Raja Batteries, Ashoka Buildcon, Aurobindo Pharma, Bajaj Electricals, Financial institution of India, Birla Company, Bosch, Can Fin Houses, CSB Financial institution, Dabur India, Dixon Applied sciences, Glenmark Pharma, Granules India, HDFC AMC, Indiabulls Actual Property, Indiabulls Housing Finance, Infibeam Avenues, KEC Worldwide, MCX India, Motherson Sumi Programs, Data Edge, Nestle India, Rain Industries, RBL Financial institution, REC, Rossari Biotech, Solar TV Community, Tata Communications, Torrent Pharma, Wipro, Westlife Growth and Zydus Life amongst ‘A’ Group shares that hit 52-week low.

Within the ‘B’ Group, shares that touched one 12 months low included Zomato, PayTM, Nazara Applied sciences, Medplus Well being Providers, Nureca, Arshiya, Birla Tyres, Campus Activewear, DIC India, Essar Transport, Eureka Forbes, Gayatri Initiatives, GG Engineering, Hariom Pipe, Igarashi Motors, Indian Hume Pipe, JBF Industries, JMC Initiatives, Man Industries, Novartis India, Sigachi Industries, Supriya Lifescience, TBZ, Vijaya Diagnostic Centre, and Vivimed Labs.

Aside from this, greater than 450 shares hit decrease circuit in opposition to 141 shares at higher circuit on Wednesday, together with most of them both from smallcap or decrease than smallcap segments.

Dhani Providers is the one inventory from ‘A’ group that hit decrease circuit (down 5 p.c), whereas shares at decrease circuit from ‘B’ Group included Lyka Labs, Kranti Industries, Suryalakshmi Cotton Mills, Pearl Polymers, Anik Industries, Vikas Ecotech, CL Educate, Andhra Cement, Indowind Power, NDTV, Ugar Sugar Works, A2Z Infra Engineering, Donear Industries, Mercator, and Veeram Securities.

FIIs have been relentless sellers for seventh consecutive month now, offloading greater than Rs 20,000 crore price of shares in Might, whereas DIIs have managed to offset a few of these outflow by shopping for Rs 14,568 crore price shares through the present month.

“Sustained shopping for by DIIs and retail traders is imparting resilience to the market even when FPIs proceed to be within the promote mode. An unhealthy development out there is retail traders chasing low-grade low-cost shares,” V Okay Vijayakumar, Chief Funding Strategist at Geojit Monetary Providers stated.

He suggested that the one smart technique on this extremely risky atmosphere is to purchase small portions of top of the range shares for the long-term and chorus from hypothesis.

Disclaimer: The views and funding suggestions expressed by funding specialists on Moneycontrol.com are their very own and never these of the web site or its administration. Moneycontrol.com advises customers to test with licensed specialists earlier than taking any funding choices.

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