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Smallcap index plunges 16% from record high level; 26 stocks slip over 30%

As many as 89 stocks from the smallcap index hit their respective 52-week lows today.

SI Reporter  |  Mumbai 

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Illustration by Ajay Mohanty

The S&P BSE plunged nearly 5% to 16,945 in early morning trade on Tuesday, falling 16% from its record high level of 20,183 touched on January 15, 2018 in intra-day trade. At 01:29 PM; the S&P BSE Smallcap index, the largest loser among sectoral indices, was down 3.2% as compared to 2.5% decline in the S&P BSE Midcap and 2.6% fall in the benchmark S&P BSE Sensex. The market is reacting to the global cues and hardening of bond yields across The midcap index hit intra-day low of 15,776, has slipped 14% from its all-time high of 18,321 touched on January 1, while Sensex touched a low of 33,483 in early morning trade, down 8% from its record high of 36,444 reported on January 29. The broader NSE Nifty and the benchmark BSE Sensex each fell as much as 3.7% today, heading for a sixth consecutive session of falls, with both erasing their gains for the year. The slump in Wall Street overnight comes as India’s record-setting share rally came under threat following the government’s announcement of a 10% long-term capital gains tax in equities, which starts in April. CLICK HERE TO READ FULL REPORT. Gautam Duggad, Head of Research, Motilal Oswal Institutional Equities believe the correction is offering a good opportunity to buy from a 2-3 year perspective, with earnings recovery – 3QFY18 earnings are in-line so far – panning out. “Our preference continues for large-caps over midcaps as Nifty valuations at 17-17.5x FY19 projected EPS, while not inexpensive is not out of whack either,” he added. As many as 89 stocks from the hit their respective 52-week lows today.

Total 11 public sector banks from the index include Allahabad Bank, Andhra Bank, Bank of Maharashtra, Oriental Bank of Commerce, Indian Overseas Bank, Uco Bank and Dena Bank hit 52-week lows. Total 124 stocks have fallen more than 25% from their respective all-time highs touched in January 2018. Of these 26 stocks slipped an over 30%, the list include Fineotex Chemicals, Philips Carbon Black, NACL Industries, BLS International, VIP Clothing, TPL Plastech and

All-time high
Company Date Price (Rs) LTP % chg
Fineotex Chem 04/01/2018 106.05 61.30 -42.2
Phillips Carbon 09/01/2018 1594.90 952.45 -40.3
NACL Industries 08/01/2018 68.85 42.30 -38.6
BLS Internat. 10/01/2018 293.00 180.35 -38.4
VIP Clothing 08/01/2018 101.50 63.75 -37.2
TPL Plastech 03/01/2018 780.90 493.60 -36.8
Alankit 05/01/2018 88.65 56.65 -36.1
PC Jeweller 16/01/2018 600.65 389.65 -35.1
Zen Technologies 01/01/2018 158.10 103.00 -34.9
Nagarjuna Fert. 04/01/2018 28.60 18.95 -33.7
GPT Infraproject 16/01/2018 247.25 167.65 -32.2
Tinplate Co. 12/01/2018 324.80 221.40 -31.8
Graphite India 04/01/2018 908.00 618.95 -31.8
G M Breweries 08/01/2018 1212.00 828.00 -31.7
Jain Irrigat-DVR 05/01/2018 99.95 68.35 -31.6
Rain Industries 09/01/2018 475.50 326.10 -31.4
HBL Power System 09/01/2018 76.40 52.40 -31.4
Bharat Wire 11/01/2018 166.00 113.95 -31.4
Ambika Cotton 04/01/2018 1857.00 1275.00 -31.3
Bombay Burmah 10/01/2018 1820.00 1250.45 -31.3
India Glycols 12/01/2018 589.00 407.25 -30.9
Rajapalayam Mill 04/01/2018 1583.00 1099.60 -30.5
JMC Projects 11/01/2018 688.00 478.00 -30.5
RPG LifeScience. 11/01/2018 606.40 423.75 -30.1
Seshasayee Paper 15/01/2018 1225.00 857.05 -30.0
Somany Ceramics 05/01/2018 973.80 682.00 -30.0
LTP - Last traded price on BSE in Rs at 01:24 PM

First Published: Tue, February 06 2018. 13:58 IST
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