Over 100 stocks hit new 52-week low on BSE; HUL, Wipro climb to fresh 52-week high

The Indian benchmark indices continues to trade on a negative note with the Nifty down 34 points at 10,849 while the Sensex shed 154 points and is trading at 36,086 mark.

Nifty IT and Pharma are the sectors which are trading in the green, up 1.3 percent and 0.5 percent respectively while Nifty Media also traded in the green.

The underperforming sectors included Realty, Bank Nifty, the oil & gas space, Metal, Infra and the FMCG space.

However, individual stocks have hit new 52-week high in this session led by Wipro which jumped over 2 percent as the rupee slipped above the 70/dollar mark.

Sirca Paints India added 1.6 percent while Hindustan Unilever was the other stock to have hit new 52-week high.

Brokerages CLSA and Edelweiss have maintained their 'outperform' ratings on Hindustan Unilever after it decided to merge GlaxoSmithKline Consumer Healthcare with itself.

The transaction values the total business of GSK Consumer India at Rs 31,700 crore. Following the issue of new HUL shares, Unilever's holding in HUL will be diluted from 67.2 percent to 61.9 percent and GSK Plc, including group companies, will own 5.7 percent of the merged entity.

The stocks to have hit new 52-wek low included names like Marathon Nextgen which shed 5 percent followed by Shreyas Ship and IL&FS Transportation Networks which are down close  to 5 percent each.

The top others to have hit fresh 52-week low are ABG Shipyard, Texmaco Rail, Excel Realty, IL&FS Engineering and Construction and Transformers And Rectifiers.

From the BSE, over 100 stocks hit new 52-week low namely Ortel Communications, Shreyas Shipping, IL&FS Transport, VIP Clothing, Shankara Building Products, V B Industries, IL&FS Engg Const, Ashapura Intimates and Alchemist among others.