Bloodbath on Street: Tata Tech among 353 stocks at 52-week lows, crash up to 20%
stocks hit their 52-week lows on Tuesday as the markets crashed after the early trends suggested that the NDA will form the government but with a lesser- than-expected majority. Shares of Veritas Advertising and Bodhi Tree Multimedia saw the highest fall of nearly 20% each on Tuesday to Rs 170.30 and Rs 11.7, respectively, to hit their new 52-week lows.
These estimates led the benchmark indices Sensex and Nifty losing over 7% each in what is the biggest fall in over 4 years. Tata group companies Tata Elxsi and Tata Technologies shares also fell 7.8% and 5%, respectively, on Tuesday while those of HDFC Life Insurance Company fell by 7% to new 52-week low on the BSE.
Bajaj Finserv shares fell 6.2% to its 52-week low of Rs 1,419. SBI Cards and Payment Services also fell to Rs 649, its new 52-week low.
Shares of other companies, including India Cements, fell to Rs 172.55, Dalmia Bharat (Rs 1,664.20), Piramal Enterprises (Rs 736.60) and Can Fin Homes (Rs 680.45) as they touched their new 52-week-low mark.
Ramco Cements, IndiaMart InterMesh, Delta Corp, Berger Paints, Syngene Technologies, Anupam Rasayan, KRBL, Eureka Forbes and LTIMindtree also made new lows.
Also read: Defence stocks fall up to 11% in early trade session amid tight election race
Nifty Bank fell to the day's low of 46,077.85 with all 12 stocks in the index trading in the red. Index heavyweights HDFC Bank and ICICI Bank were among the top three laggards and behind Reliance Industries (RIL) to have triggered the downfall.
The BSE PSU Index fell 18%
