The nervous sentiment in the equity market saw 70 per cent of the actively traded stocks sink to a new one-month low over the last 13 trading days of the current month. Of the 2,080 traded stocks, 1,440 fell to one-month low, around 959 declined to three-month low and as many as 192 dropped to 52-week low.
The equity market, represented by the sensex, closed yesterday to a new one-month low of 3040.30. The major impact of the downturn in the market was felt only after the government decided to defer the divestment of the two oil PSUs, Hindustan Petroleum Corporation Ltd and Bharat Petroleum Corporation Ltd, on September 6.
During the eight trading days after September 9, the prices of over 58 per cent of actively traded stocks declined to a new one-month low.
There was a major erosion in the value of B2 stocks with as many as 946 scrips declinning to a one-month low.
Around 399 scrips from the B1 group and 113 scrips from the A group were also down to a month low.
Among the A group, Bajaj Auto declined to its three-month low of Rs 375.60 yesterday. Escorts, GNFC, GSFC, Escorts, GlaxoSmithkline, Videocon International, BPCL and HPCL too declined to three-month lows yesterday.
Among the A group stocks that declined to 52-week low include, Glaxo Smithkline Consumer, Finolex Cables and DSQ software.
