These BSE stocks hit 52-week low: Check here
By The livemint
Indian indices shed for the third day in a row to end the first week of 2023 on a negative note.
Investors remained nervous ahead of the earnings season after recent warnings by some major companies. Some 29 stocks have hit their 52-week low.
Sensex slipped below 60,000 to close at 59,900.
Sensex went below 59,700 intraday but recovered some losses while Nifty too slipped by 132 points to close at 17,859.
These BSE stocks have hit its 52-week low.
Aavas Financers’s scrip touched its 52 week low at ₹1,697.65 during intra day.
However, it recovered to close at ₹1764.90, up by 1.95 per cent.
Abans Holdings Ltd dropped by 1.74 per cent to ₹180.90 while Astron Paper and Board Mill dropped by 1.85 per cent to ₹31.80, Aveer Food dropped by 5 per cent to ₹222.30.
Biocon too dropped by 1.57 per cent to ₹256.30, while DSP Nifty Bank ETF was down by 3.04 per cent to ₹42.11.
On the other hand Dhruv Wellness too touched its 52-week low at intrday to touch ₹22.75 and recovered to close at ₹25.05.
Gala Global Products Ltd dropped by 1.99% to ₹12.81, Global Longlife Hospital and Research Ltd dropped by 6.17% to ₹45.60, HDFC NIFTY IT ETF touched its 52-week low at intraday to touch ₹279.02, Hemo Organic Ltd dropped by 4.95% to ₹8.07, Jigar Cables Ltd dropped by 8.33% to ₹22, Jyoti Structures down by 4.96% to ₹9.97,Krsnaa Diagnostics Ltd dropped to ₹440.30.
Maagh Advertising and Marketing Services Ltd dropped 10.94% to ₹26.25, while Paushak Ltd touched its 52 week low at ₹7,750.10.
Kandagiri Spinning Mills, Kanel Industries Limited too dropped to their 52-week low intrday at ₹13.70 and ₹2.10 respectively to recover later.
Manaksia Steels Ltd, National General Insurnace, Nureca Ltd, Padma Cotton Yarn, Paras Petrofils Ltd, Shukra Jewellers Ltd, Sintex Industries Ltd, SoftBPO Global Services Ltd, Sumeet Industries and Thyrocare Technologies Ltd too touched their 52- week low.
The Indian equity markets have begun the new year on a slightly cautious note, in line with the global markets, continuing the trend visible in December 2022.
While expectations remain of softer rate tightening by the global central banks from hereon, concerns remain on the overall economic environment amidst the high interest rates and sticky core inflation.
2023 is expected to be ‘the year of cool down’; both growth and inflation rates globally are likely to slow down, as monetary policy normalisation takes its toll and some of the pandemic-related constraints ease.
Overall, the inflation rate is expected to fall more than the growth rates.
Indian markets have been one of the best performing markets globally in CY22, aided by its relatively strong growth – both GDP and corporate earnings – and resilient domestic liquidity, a trend likely to continue in CY23 as well. However, in the near term, the markets seem to be running into a few headwinds – record high valuation premium to EMs (although the valuations are only slightly above its own historical averages) which may attract some tactical shifts to other EMs, potential slowdown in exports on the back of global slowdown, and Fixed Income emerging as a viable investment option.
Hence, while we continue to remain constructive on the markets, we believe there could be several interim opportunities in the near term as the markets adjust to the headwinds,” said Milind Muchhala, Executive Director, Julius Baer India.
