Despite a two per cent fall in Nifty 50 index, nine stocks hit 52-week highs on NSE including Abbott India, Bafna Pharmaceuticals, Ruchi Soya Industries.
Stock market benchmarks Sensex and Nifty continued to be in tight grip of the bears, as Sensex and Nifty dropped more than 3 per cent in the opening deals on Monday. Stock markets, however, have trimmed some of the morning losses, but were still trading lower in noon deals. The 30-share index Sensex was trading in range at 29,193 down 622 points or 2.09 per cent while the broader Nifty 50 index was ruling 175 points or 2.02 per cent lower at 8,489, down 170 points or 1.97 per cent. Despite a two per cent fall in Nifty 50 index, nine stocks hit 52-week highs on NSE including Abbott India, Bafna Pharmaceuticals, Ruchi Soya Industries, SBI-ETF Gold and ABB Power Products and Systems India. The market capitalisation of all BSE-listed companies stood at Rs 1.11 lakh crore on Monday morning, down from Rs 1.12 lakh crore on Friday. In the initial trade, investors lost around 1.42 lakh crore worth wealth.
However, a total of 188 scrips hit 52-week lows on NSE including Indian Oil Corporation, Sun Pharmaceutical Industries, Vakrangee, Vedanta and Welspun Corp. Overall, 16 shares were trading in green and 34 in a negative territory. In the Nifty50 index, Tech Mahindra, Axis Bank, GAIL, Cipla and BPCL were among the top gainers. On the flip side, Bajaj Finance, Eicher Motors, HDFC, JSW Steel and Tata Steel were the top laggards on Nifty 50 index.
Similarly, a total of 16 scrips hit 52-week highs on BSE in an otherwise weak market today. These include Abbott India, Cospower Engineering, Krishna Ventures, ABB Power Products and Systems India, Ruchi Soya and Megastar Foods. The stocks that hit 52-week lows were Eicher Motors, Emami, TVS Motors, Vedanta, Sobha, SUN TV and Lakshmi Mills Company.
Meanwhile the death toll from the fast-spreading coronavirus climbed to 29 in India, with a total number of infected persons over 1,000-mark. Globally, the coronavirus cases have surpassed 6,34,000, and the death toll inched close to 30,000, according to WHO.