Nifty hits intra-day low of 3,777, the lowest since April 9, 2007.
Over 1,000 actively-traded stocks hit their 52-week lows during intra-day trades on Monday.
The Sensex fell to its 18-month low of 12,402.84 during the morning trade and closed at 12,595.75, a few notches above its 52-week low of 12,575.80 on July 16, 2008. Nifty too fell to an intra-day low of 3,777.30, the lowest level since April 9, 2007. The index, however, closed at 3,850.05, the lowest level after July 16, 2008.
A Business Standard Research Bureau study shows that as many as nine Sensex components — ICICI Bank, TCS, Tata Steel, DLF, Reliance Communications, Satyam Computer Services, Ranbaxy Laboratories, Jaiprakash Associates and Hindalco — closed the day at their 52-week lows.
| THE DOMESTIC MELTDOWN | |||
| In Rs | Sep-29 | 52-wk high | % chg* |
| Unitech | 108.85 | 546.80 | -80.09 |
| DLF | 350.60 | 1225.00 | -71.38 |
| Suzlon Energy | 153.45 | 460.00 | -66.64 |
| ICICI Bank | 493.30 | 1465.00 | -66.33 |
| Reliance Com | 326.30 | 844.00 | -61.34 |
| Ranbaxy Labs | 255.85 | 613.70 | -58.31 |
| Idea Cellular | 70.60 | 161.00 | -56.15 |
| Tata Steel | 445.35 | 969.80 | -54.08 |
| Hindalco | 96.65 | 202.74 | -52.33 |
| Satyam Com | 292.55 | 544.00 | -46.22 |
| TCS | 619.65 | 1151.00 | -46.16 |
| * change over 52-week high market price | |||
Among the large-cap, A-group stocks, Unitech, Bombay Dyeing, Century Textiles, NDTV, Sun TV Network, Videocon Industries, Idea Cellular, Aditya Birla Nuvo, Adani Enterprises and Suzlon Energy also fell to their 52-week lows.
Real-estate and infrastructure stocks such as HDIL, Parsvnath Developers, Gammon India, Unitech, Indiabulls Real Estate and Jaiprakash Associates have not only closed at 52-week lows, but have also declined by over 80 per cent from their respective 52-week highs. Future Capital, India Infoline, BGR Energy, Bajaj Hindustan, Essar Shipping and Reliance Natural Resources hit 52-week lows and were available at 70-80 per cent below their respective 52-week highs.
The technology sector was hit the most with as many as 95 stocks closing at 52-week lows. Among others, 78 stocks from non-banking finance, 50 from constructions, 40 from entertainment, 39 from cotton textiles, 37 from pharmaceuticals, 34 from auto-ancillaries, 29 from engineering and 20 each from cement and hotel hit their one-year lows.
Interestingly, as many as 1,723 stocks are currently trading 50 per cent below their 52-week highs. Of these, 456 stocks are down by 75 per cent, 906 have fallen between 60-75 per cent and the remaining 361 have declined by 50-60 per cent from their respective one-year highs.