1,000 stocks hit 52-week lows

Nifty hits intra-day low of 3,777, the lowest since April 9, 2007.

Over 1,000 actively-traded stocks hit their 52-week lows during intra-day trades on Monday.

The Sensex fell to its 18-month low of 12,402.84 during the morning trade and closed at 12,595.75, a few notches above its 52-week low of 12,575.80 on July 16, 2008. Nifty too fell to an intra-day low of 3,777.30, the lowest level since April 9, 2007. The index, however, closed at 3,850.05, the lowest level after July 16, 2008.

A Business Standard Research Bureau study shows that as many as nine Sensex components — ICICI Bank, TCS, Tata Steel, DLF, Reliance Communications, Satyam Computer Services, Ranbaxy Laboratories, Jaiprakash Associates and Hindalco — closed the day at their 52-week lows.
 

THE DOMESTIC MELTDOWN
In Rs	Sep-29	52-wk high	% chg*
Unitech	108.85	546.80	-80.09
DLF	350.60	1225.00	-71.38
Suzlon Energy	153.45	460.00	-66.64
ICICI Bank	493.30	1465.00	-66.33
Reliance Com	326.30	844.00	-61.34
Ranbaxy Labs	255.85	613.70	-58.31
Idea Cellular	70.60	161.00	-56.15
Tata Steel	445.35	969.80	-54.08
Hindalco	96.65	202.74	-52.33
Satyam Com	292.55	544.00	-46.22
TCS	619.65	1151.00	-46.16
* change over 52-week high market price

Among the large-cap, A-group stocks, Unitech, Bombay Dyeing, Century Textiles, NDTV, Sun TV Network, Videocon Industries, Idea Cellular, Aditya Birla Nuvo, Adani Enterprises and Suzlon Energy also fell to their 52-week lows.

Real-estate and infrastructure stocks such as HDIL, Parsvnath Developers, Gammon India, Unitech, Indiabulls Real Estate and Jaiprakash Associates have not only closed at 52-week lows, but have also declined by over 80 per cent from their respective 52-week highs. Future Capital, India Infoline, BGR Energy, Bajaj Hindustan, Essar Shipping and Reliance Natural Resources hit 52-week lows and were available at 70-80 per cent below their respective 52-week highs.

The technology sector was hit the most with as many as 95 stocks closing at 52-week lows. Among others, 78 stocks from non-banking finance, 50 from constructions, 40 from entertainment, 39 from cotton textiles, 37 from pharmaceuticals, 34 from auto-ancillaries, 29 from engineering and 20 each from cement and hotel hit their one-year lows.

Interestingly, as many as 1,723 stocks are currently trading 50 per cent below their 52-week highs. Of these, 456 stocks are down by 75 per cent, 906 have fallen between 60-75 per cent and the remaining 361 have declined by 50-60 per cent from their respective one-year highs.