13 Nifty stocks hit one-year low

HDFC, SBI, ONGC, ICICI Bank and L&T are among thirteen stocks from the Nifty-50 companies hit their respective one year low.

HDFC, SBI, ONGC, ICICI Bank and L&T are among thirteen stocks from the Nifty-50 pack that hit their respective one-year low after the benchmark CNX Nifty hit its lowest level since August 2012 in early morning deals on concerns of a rating downgrade for India.

CNX Nifty quoting 66 points down at 5,221.25 against previous day’s close of 5,287.45 at 0930 hours. The index hit low of 5,202.80, its lowest level since August 3, 2012, in early morning trades.  On October 5, 2012, CNX Nifty touched low of 4,888.20 due to freak trade.

ACC, Axis Bank, Grasim Industries, HDFC Bank, IDFC, NTPC, Punjab National Bank and UltraTech Cement are among others from Nifty-50 touched one year low in intra-day trades today.

Indian markets plunged on worries that the Food Security Bill, which was passed in the Lok Sabha on Monday, would worsen the country's fiscal deficit situation, according to analyst at Angel Broking.

The rupee fell below the 67 per dollar mark on Wednesday as uncertainty over a possible US-led military strike against Syria knocked down Asian equity markets and currencies, also pushing the domestic benchmark bond yield to 9%.

The partially convertible rupee was trading at a record low of 67.40/45 per dollar, sharply below its close of 66.24/25 on Tuesday.

Among sectoral indices, oil and gas, banking index Bankex, capital goods and power index hit one year low on the Bombay Stock Exchange (BSE).

Meanwhile, Bank of India, Canara Bank, Central Bank of India, HPCL, IFCI, Adani Enterprises, Uco Bank and Union Bank of India are among notable stocks from BSE ‘A’ group hits 52-week low today.