177 stocks hit 52-week low on BSE as markets slump
Mumbai: As many as 177 stocks hit their fresh one-year low on the BSE on Tuesday, amid mayhem in the stock market where the benchmark Sensex plunged almost 600 points.
Following the weak sentiment across the stock market, blue-chips, including HDFC Bank, HDFC, Ultratech Cement, NTPC and ACC touched their respective 52-week low.
Shares of HDFC Bank tanked 8.04 percent to close at Rs 560.9, while mortgage lender HDFC plunged 7.70 percent to Rs 686.85 and NTPC lost 5.86 percent to close at Rs 124.50.
In contrast, 47 scrips scaled their 52-week high at the BSE.
"The rising USD-INR rate is expected to push up import cost of gold and crude oil. Further, the concerns of rating downgrade are increasing. This is making investors and traders nervous and we are seeing the result of it on the market. Any further rise in the USDINR rates will trigger further fall," said Nagji K Rita, Chairman & MD, Inventure Growth and Securities.
The benchmark Sensex fell below the 18,000-mark and ended the day at 17,968.08, down 590.05 points or 3.18 percent.
Among the 30-Sensex constituents, 27 stocks ended the day with losses in the range of 0.09-9.49 percent, with BHEL emerging as the worst performer.
From the BSE 13 sectoral indices, barring IT space, 12 ended the day in the red with banking sector taking the biggest hit.
Investors lost Rs 1.7 lakh crore in notional wealth in stocks.