HDFC, Wipro to Bajaj Auto: These 3 Nifty stocks fell up to 35% from 52-week high
Premium- Global equity markets including Dalal Street have been reeling under sell-off heat after the outbreak of Russia-Ukraine war
Following weak global markets, Indian stock market today opened in negative zone and Nifty 50 index breached the psychological 16,000 mark. However, the 50 stocks index extended its intraday losses further and hit today's low of 15,800. Global equity markets including Dalal Street have been reeling under sell-off heat after the outbreak of Russia-Ukraine war and in last two and half months, key benchmark indices have been continuously nosediving. In fact, NSE Nifty has nosedived around 15 per cent from its 52-week high of 18,604. In fact some quality Nifty-listed stocks have also corrected strongly in recent few months. Stocks like Wipro, HDFC Ltd and Bajaj Auto have outperformed the 50-stock index.
Here we list out complete details in regard to these 3 Nifty-listed stocks that tumbled more than the Nifty 50 index:
1] Wipro share price: This IT major's 52-week high is ₹739.85 apiece on NSE whereas Wipro share price today is ₹471.50. So, Wipro shares have corrected to the tune of 35 per cent from its 52-week high and recent sell-off in the stock, especially after the announcement of quarterly results of the company, has a major role in it.
2] HDFC Ltd: Housing Development Finance Corp Ltd or HDFC Ltd share price today is around ₹2170 whereas its 52-week high is ₹3021 per share on NSE. So, the stock has corrected around 28 per cent from its 52-week high. In last one month, this stock has corrected more than 10 per cent whereas in YTD time, it has tumbled to the tune of near 18 per cent. The stock has been in consolidation phase since mid-November 2021 and every rise in the counter has been seen as selling opportunity in the counter.
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3] Bajaj Auto: This Nifty-listed auto major is currently quoting at ₹3572 per share on NSE whereas its 52-week high is ₹4,347. So, Bajaj Auto share price has corrected around 18 per cent from its 52-week high. It would be interesting to know that Bajaj Auto shares have made good upside attempt in early March to April end period in 2022. But, the stock has been under sell-off heat after ushering in May 2022. Bajaj Auto stocks had made its 52-week high in June 2021.