585 stocks touch 3-month lows

As many as 70 stocks dipped to two-year lows and 43 to all-time lows yesterday.

The excitement over the Sensex crossing the 11,000-point mark in just 29 trading days fizzled out today, with almost 25 per cent stocks hitting at least three-month lows.

A study by the Business Standard Research Bureau shows that 585 stocks from the A, B1, B, and S, T, TS and Z groups touched three-month lows, while 254 of them declined to 52-week lows.

As many as 70 stocks dipped to two-year lows and 43 to all-time lows. The Sensex declined by 64 points to 10,841.35 today. Of the 585 stocks, 200 are from the trade-to-trade segment (T group), 129 are from the B group, 77 from the S group, 90 from the B1 group, 43 from the Z group, 26 from the TS group and the remaining 20 stocks are from the frontline A group of the Bombay Stock Exchange.

The information technology sector bore the brunt with a total of 75 stocks falling to at least three-month lows.

Among the other losers, 67 were from non-banking financial companies, 38 from pharmaceuticals, 24 from cotton textiles, 20 from trading, 15 from packaging, 14 from organic chemicals and 12 each from the specialty chemicals and plastics industries.

The stocks that hit their all-time lows included Jindal Photo, Datamatics Technology, SAL Steel, Sah Petroleum's, Mega Corpn, Padmalaya Telefilms, Wellwin Industries and Lloyds Finance. Arvind Mills at Rs 90.45, GMDC (Rs 386), Castrol (Rs 231.55), BASF India (Rs 228.50), Torrent Pharma (Rs 195), LIC Housing Finance (Rs 188.75), HMT (Rs 71), ING Vysya Bank (Rs 140.90), Andhra Bank (Rs 80.75) and IDBI (Rs 80.25) were among the prominent frontline A group stocks currently trading at their three-month low prices on the BSE.

Trent at Rs 857.40, Rallis (Rs 309.20), Archies (Rs 153.15), LML (Rs 37.10), Tata Teleservices (Mah) (Rs 23.05), NELCO (Rs 137.80), Colour Chem (Rs 323.55) and Ucal Fuel Systems (Rs 185.40) were among the other notable stocks that hit three-month lows on the bourse.