SBI, L&T, ICICI Bank, BHEL hit fresh 52-week lows
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Shares of seven companies in the Nifty 50 index have touched their respective 52-week lows after the benchmark index fell more than 1% on the National Stock Exchange (NSE) in early morning trade as concerns about China and global economic slowdown persisted.Adani Ports & Special Economic Zone (SEZ), Bharat Heavy Electricals Limited (BHEL), Bank of Baroda (BOB), ICICI Bank, Larsen & Toubro (L&T), Punjab National Bank (PNB) and State Bank of India (SBI) from the Nifty 50 index hit 52-week lows on the NSE in intra-day trade. Most of these stocks were trading down in the range of 2%-3% at 09:23 a.m.
Of these seven stocks, BHEL and PNB were more than halved, while, BOB, ICICI Bank, L&T and SBI down nearly 40% and Adani Ports by 37% from their 52-week highs levels.
ACC, Allahabad Bank, AIA Engineering, Bajaj Electricals, Bank of India, Canara Bank, Federal Bank, Indian Bank, United Spirits, Vijaya Bank and Jubilant FoodWorks are among few from BSE & NSE 500 index have touched 52-week lows in intra-day trade today.
Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 1,237 crore on Friday, as per provisional data released by the stock exchanges. The domestic institutional investors (DIIs) bought net amounting of Rs 1,004 crore, data shows.
The Nifty 50 index was down 1% or 101 points at 7,500. The S&P BSE Sensex down 1.2% or 311 points at 24,624 after hitting a 52-week low of 24,599 in intra-day trade.
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