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| The rally in the stock markets is showing signs of fatigue. Of the 1000-odd stocks that hit their 52-week highs in November, 530 now trade at a lower level.
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| The fall in some of these stocks is as high as 60 per cent, indicating that traders are booking profits in these stocks, despite no major change in the fundamentals in the intervening period. 110 of these stocks are from the A group.
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| Trading volumes in these stocks have also eased gradually, which is another indication of waning trading interest in these stocks.
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| Also, concerns of a slowdown in foreign inflows into the markets may have forced investors to cut their positions in these stocks.
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| Most of these stocks saw a sharp rise in prices and volumes prior to key announcements, indicative of traders taking huge positions in these stocks.
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| But most investors are now booking profits on these counters. With the benchmark Bombay Stock Exchange (BSE) Sensex close to the 5,000 mark, most fund managers and investors argue that these companies will have to post extra-ordinary performances to sustain the momentum.
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| Tyre major Apollo Tyres reported the sharpest fall in its price from its high of Rs 286.50 on November 15, when it announced a joint venture with a foreign company, to Rs 232.75 on Thursday, a 18.76 per cent decline.
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| The Bombay Dyeing scrip has dipped 17.54 per cent from its recent high of Rs 167 on November 10 to Rs 137.70 on Thursday. Jindal Stainless has tumbled close to 16.81 per cent from its high on Rs 464.00 on November 17.
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| However, there is also a view that the sharp fall in the prices of these stocks is only a consolidation move.
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| With the BSE Sensex crossing the 5,000 level today the participation in these stocks is also expected to increase. However, a lot depends how the market moves in the coming days.
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| State-owned Bharat Earth Movers eased 6.61 per cent from its recent 52-week high of Rs 259.20 to Rs 216.15 on Thursday.
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| Bayer Cropscience has lost 14.40 per cent from its high of Rs 365 to Rs 312.45. Media major, Zee Telefilms has plunged 13.27 per cent from its 52-week at Rs 151.90.
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