HindustanTimes Wed,22 Oct 2014

177 stocks hit 52-week low on BSE, 42 others reach 1-yr high

PTI  Mumbai, August 16, 2013
First Published: 20:20 IST(16/8/2013) | Last Updated: 20:22 IST(16/8/2013)

Tracking the extremely weak momentumin the broader market, as much as 177 stocks on Friday touched their 52-week low on the BSE.


Among the stocks that touched their 52 week low were BHEL, State Bank of India (SBI), Multi Commodity Exchange (MCX), MTNL, Larsen & Toubro and JSW Steel.

However, 42 other stocks reached to their respective one-year high level on the exchange. These included counters like Hero MotoCorp, Aditya Birla Nuvo and Escorts.

Meanwhile, the S&P BSE Sensex on Friday crashed 769 points, the most in 4 years, as the rupee plunged to an all-time low amid fears the government may move to a capital-control regime to curb forex volatility and narrow current account deficit (CAD).

The rupee fell below the 62 level for the first time, plummeting to 62.03 against the dollar, after the Reserve Bank of India announced additional steps on Wednesday to restrict foreign-exchange outflows and gold imports.

The 30-share Sensex opened lower at 19,297.11 from the previous close of 19,367.59. It dropped to a low of 18,559.65 and closed at 18598.18, a 769.41 point drop, or 3.97 per cent.

Also, all 13 sectoral indices closed lower, with consumer durable, realty, metal, banking, capital goods leading the fall.

Besides, the Indian stock market edged out of the trillion-dollar league, as the total valuation of all listed companies slipped to USD 985 billion.

The markets were also spooked by expectations that an improving US economy would lead to a flight of foreign capital from the domestic markets.

"The fear (among foreign investors) is that recent RBI measures may bring capital control measures back in a much bigger way. The markets crashed chiefly because of this," said Gautam Sinha Roy, VP-Equities, Motilal Oswal Securities.

more from Business

Gold is glittering this Dhanteras

Gold is glittering this Dhanteras as jewellers are experiencing good sales driven by better prices compared to last year. Last year, there was a supply crunch of gold in the market after the government hiked its import duty to 15% to curb higher import as that was causing imbalance in the current account deficit in the country.
Most Popular
Copyright © 2014 HT Media Limited. All Rights Reserved