Infosys, Wipro, UltraTech Cement, Tata Steel, Hindalco hit 52-week lows

An economic slowdown or other factors may affect the economic health of the US, UK, the European Union, Australia or those industries where IT revenues are concentrated.

Shares of nine companies across the BSE Sensex and the NSE Nifty50 hit their respective 52-week lows after the two indices sharply declined by around 2 per cent each on Thursday, just a day after the US Federal Reserve delivered a 75 bps interest rate hike.

Infosys, Wipro and Tech Mahindra from the information technology (IT) sector, UltraTech Cement and Grasim Industries from the cement pack, Tata Steel and Hindalco from metals, and Bajaj Finance and IndusInd Bank from financials touched their respective 52-week lows today.

The US Federal Reserve raised rates by 75 bps on Wednesday, which