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Last Updated : Feb 24, 2020 01:18 PM IST | Source: Moneycontrol.com

D-Street Buzz: Over 100 stocks hit 52-week low on BSE; metals tumble, IT stocks gain

The most active stocks included State Bank of India, Indiabulls Housing Finance, IRCTC, Reliance Industries and Max Financial Services.


The Indian stock market following its global peers fell over a percent after spike in coronavirus cases beyond China renewed concerns surrounding the impact on global economy.

Sensex is down 372.22 points or 0.9 percent at 40797.90, and the Nifty shed 120.90 points at 11960.

The metal index fell the most, down over 3 percent dragged by Jindal Steel & Power, Hindalco Industries, JSW Steel and Vedanta which fell 3-4 percent followed by Hindustan Copper, Tata Steel, MOIL and NALCO.

However, the IT index was the only index trading in the green after the rupee hit 7-week low. Nifty IT index rose 0.6 percent whereas the benchmark Nifty50 fell 1 percent. In last three weeks, the index climbed 4 percent.

"The rupee is expected to eventually move towards 72 as support from FIIs is missing in equity markets. However, a rupee move is likely to be slow as the debt market segment has started seeing some FII inflows post the recent monetary policy," said ICICI Direct.

The top gainers included Infosys, Tech Mahindra, Tata Elxsi, Wipro and Tata Consultancy Services.

Share price of Ambuja Cements jumped 3 percent after the company reported decent fourth-quarter earnings, in line with analysts' forecasts.

The company's standalone net profit fell 15.35 percent year-on-year (YoY) to Rs 454.9 crore in the fourth quarter against Rs 537.37 crore reported in the corresponding quarter of the previous year.

India VIX zoomed 11.90 percent and was trading at 15.33 level.

The top gainers from Nifty are Tech Mahindra, Wipro, Infosys, Tata Consultancy Services and BPCL while the top losers included JSW Steel, Vedanta, Hindalco Industries, Tata Steel and Maruti Suzuki.

The most active stocks included State Bank of India, Indiabulls Housing Finance, IRCTC, Reliance Industries and Max Financial Services.

62 stocks hit new 52-week high on BSE including GMR Infra, Tube Investments, Max Financial, Shilpa Medicare, Inox Leisure, Essel Propack, Muthoot Finance, Biocon, Ajanta Pharma and Aarti Industries among others.

122 stocks hit 52-week low on BSE including Sterling and Wilson Solar, Future Consumer, LIC Housing Finance, NBCC, Hero MotoCorp, Future Lifestyle Fashion, Hero MotoCorp, Indian Overseas Bank, Larsen & Toubro, Hindustan Zinc and BASF among others.

About 807 shares have advanced, 1396 shares declined, and 145 shares are 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 Feb 24, 2020 01:18 pm
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