As India attacks Pak based terror camps, 94 stocks hit 52-week high; 74 stocks touch 52-week low today

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Published: September 29, 2016 5:27:07 PM

Domestic equity markets came under pressure on Thursday after the government announced that it had launched surgical attacks on Pakistan based terror camps on Wednesday in the aftermath of Uri attack, which triggered selling in the markets.

As India attacks Pak based terror camps, 94 stocks hit 52-week high; 74 stocks touch 52-week low todayDomestic equity markets came under pressure on Thursday after the government announced that it had launched surgical attacks on Pakistan based terror camps on Wednesday in the aftermath of Uri attack, which triggered selling in the markets.(Photo: Reuters)

Domestic equity markets came under pressure on Thursday after the government announced that it had launched surgical attacks on Pakistan based terror camps on Wednesday in the aftermath of Uri attack, which triggered selling in the markets. The BSE Sensex plunged below 28,000 level and ended 465.28 points down at 27,782.25, while NSE Nifty settled below 8,600-level by dropping 153.90 points to 8,591.25. As markets remained jittery, 94 stocks on NSE, including Ajanta Pharma, Bajaj Holdings & Investment, Autoline Industries, Bharat Gears, Bayer Cropscience, Blue Star, Canara Bank, MRF, Century Textiles & Industries, Dishman Pharmaceuticals and Chemicals, Finolex Cables, IDFC Bank, Kajaria Ceramics, Marathon Nextgen Realty, Mahanagar Gas and Multi Commodity Exchange of India, hit fresh 52-week high. Expiry of September series contracts in the derivatives segment influenced trading sentiment.

However, Ashok Leyland, AstraZeneca Pharma India, Everonn Education, Centum Electronics, Cupid, Orient Green Power Company, GlaxoSmithKline Pharmaceuticals, Hexaware Technologies, Idea Cellular, Larsen & Toubro Infotech, Mandhana Industries, Mcnally Bharat Engineering Company, MindTree, Noida Toll Bridge Company and Reliance Communications were among 74 companies that hit fresh 52-week low on NSE on Thursday.

On Thursday’s movement, Jayant Manglik, president, retail distribution, Religare Securities said, ” Nifty ended with sharp drop of nearly two percent due to news of the Indian army targeting terrorist camps across the border. The markets started off well with sentiments upbeat on reports of OPEC members agreeing to cut oil production but the combat news triggered a vertical fall, which was further aggravated due to pressure of derivatives expiry. Selling was witnessed across the board where realty, metal and PSU banks declined the most, closely followed by others.”

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