Domestic stock markets snapped six-day rally on Tuesday as investors booked profits in recent gainers amid mixed Asian cues. Sentiments were also affected after a Nikkei survey showed that services sector grew at its slowest pace in seven months in June, marking the third straight month of a declining growth rate, as new business orders turned sluggish.
Sensex dropped 111.89 points to end at 27,166.87, while NSE Nifty plunged 34.75 points to settle at 8,335.95. “Global equity markets which have been on a denial mode all through last week, reassessed the bullish intent, allowing prices to ease further for the second day. Trading holiday in US on Monday, and in India on Wednesday, also seems to have clipped the momentum, while the US jobs data and FOMC minutes scheduled for release later in the week ensured that buyers were less inclined to chase prices higher. The expansion of cabinet evoked no major positivity, while data showing June service sector PMI falling to 7 month low gave additional reasons for investors to skim profits from the recent rally, especially ahead of the Q2 earnings season,” Anand James, chief market strategist, Geojit BNP Paribas Financial Services Ltd said.
Mandhana Industries, Mahangar Gas Limited, Birla Cotsyn (India) Limited, DB (International) Stock Brokers Limited, NK Industries Limited, Precision Camshafts Limited, Raj Rayon Industries Limited, Rasoya Proteins Limited, Setco Automotive Limited and Uttam Value Steels Limited were the 10 stocks that touched fresh 52-week low on NSE on Tuesday.
Below are the stocks that touched their 52-week low on Tuesday.