These 4 stocks hit 52-week highs on NSE even with Sensex, Nifty in strong bears grip

By: |
March 12, 2020 12:23 PM

Sensex slipped below the crucial 33,000-mark to trade at 32,990, while the broader Nifty 50 index slipped below 9,700 levels for the first time since September 2017.

Sensex, NiftyA total of 843 scrips hit 52-week lows on NSE including Reliance Industries (RIL), InterGlobe Aviation (IndiGo), Indian Oil Corporation (IOCL), ITC, Oil India and Punjab National Bank.

Even as bloodbath on Dalal Street continued, with Sensex falling over 2,700 points and Nifty down more than 800 points, four stocks hit 52-week highs on NSE today. Sensex slipped below the crucial 33,000-mark to trade at 32,990, while the broader Nifty 50 index slipped below 9,700 levels for the first time since September 2017. The stocks that hit 52-week highs on NSE include  Bafna Pharmaceuticals, Geekay Wires, UTI Mutual Fund – UTI Gold Exchange Traded Fund and Ruchi Soya Industries. Amid rout in markets, investors lost Rs 10.64 lakh crore wealth as the market capitalisation of BSE-listed firms stood at Rs 137.13 lakh crore at the end of trading on Wednesday and by Thursday noon, the m-cap slipped to 126.73 lakh crore.

However, a total of 843 scrips hit 52-week lows on NSE including Reliance Industries (RIL), InterGlobe Aviation (IndiGo), Indian Oil Corporation (IOCL), ITC, Oil India and Punjab National Bank. Overall, none of the shares were trading in green in Nifty50 index, while 50 were ruling in the red. In the Nifty 50 index, Yes Bank, BPCL, Vedanta, Axis Bank and Hero MotoCorp were among the top losers on the index.

The carnage in the Indian equity market was intensified by the coronavirus fears. The World Health Organisation (WHO) declared the novel coronavirus (COVID-19) as a global pandemic. Following this, the US President Donald Trump announced to ban all travel from Europe to the United States for 30 days, except from the United Kingdom, to contain coronavirus blow. Apart from this, back home, Indian government too issued a fresh advisory cancelling the visas of all foreigners. Therefore, no traveler from any country of the world will be able to travel in India from March 13 to April 15, 2020. 

Meanwhile, S&P BSE Sensex was trading 2,450 points or 6.87 per cent lower at 33,246 while the broader Nifty 50 index was ruling at 9,735, down 723 points or 6.92 per cent.

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