359 stocks down over 50% from their 52-week highs

Jet Airways, PNB, Infibeam Avenues, PC Jeweller, Manpasand Beverages, Kitex Garments, Vodafone Idea, BEML, Indiabulls Real Estate, Avanti Feeds and Aptech were down more than 60% from 52-week highs.

Shares of one out of three companies have fallen more than 50% from their respective 52-week highs after a sharp sell-off in equity markets sparked by macroeconomic concerns around liquidity.

As many as 359 stocks out of 1,068 companies from the S&P BSE Allcap index were down more than 50% from their 52-week high levels on the BSE. Another 425 stocks from the index have fallen in the range of 25% to 50%, data shows. The S&P BSE Allcap index accounted for 99% of the total market capitalisation of BSE listed companies.

The S&P BSE Smallcap (down 30%), S&P BSE Midcap (down 22%) and S&P BSE Allcap index (down 12%) were underperformed the market by falling more than 10% from their respective 52-week high levels. In comparison, the S&P BSE Sensex hit an intra-day low of 35,117 on Thursday, down 10% from its 52-week high of 38,990 touched on August 29, 2018.

Jet Airways (India), Punjab National Bank, Infibeam Avenues, PC Jeweller, Manpasand Beverages, Aban Offshore, Kitex Garments, Vodafone Idea, Eros International Media, BEML, Indiabulls Real Estate, Avanti Feeds and Aptech have seen their market value tank more than 60% from their respective 52-week highs.

The whirlpool of macro headwinds – rising crude prices, depreciating INR, tightening liquidity and ILFS debt default – became extremely prominent, driving one of the biggest market corrections in many months.

Foreign portfolio investors (FPIs) were turned net sellers in equities by offloading shares worth of Rs 167 billion ($2.23 billion) thus far in the current calendar year 2018. FPIs were net buyers of Rs 529 billion ($8 billion) during the entire previous calendar year 2017.

“Rising crude price, coupled with currency depreciation, has been the key macro concern for the market as it can make the task of fiscal management challenging amid rising bond yields”, the brokerage firm Motilal Oswal Securities said in a client note.

We also note that the ILFS debt default and concerns about liquidity tightening and potential funding cost impact have resulted in a significant correction in Financials, it added.

The brokerage firm said it preference still remains with large-caps, given the premium of mid-caps to large-caps amid an environment of challenging macros, potential slowdown in domestic equity flows and a forthcoming busy political calendar.

Company	1-year high	Latest	% chg
PC Jeweller	600.65	55.65	-90.7
Kwality	119.40	11.41	-90.4
8K Miles	1024.00	164.90	-83.9
Reliance Nav.Eng	72.60	12.18	-83.2
Jet Airways	883.65	180.05	-79.6
Manpasand Bever.	498.85	103.50	-79.3
Hind.Construct.	45.00	11.40	-74.7
JP Associates	27.25	6.91	-74.6
Punjab Natl.Bank	231.60	64.80	-72.0
SREI Infra. Fin.	124.60	34.90	-72.0
Infibeam Avenues	242.80	68.50	-71.8
Rel. Comm.	41.77	11.94	-71.4
H D I L	69.05	20.30	-70.6
Vodafone Idea	118.00	35.85	-69.6
Suzlon Energy	17.30	5.74	-66.8
BEML Ltd	1823.95	612.10	-66.4
Syndicate Bank	95.65	32.30	-66.2
PTC India Fin	44.10	14.93	-66.1
Rain Industries	475.50	161.35	-66.1
Indbull.RealEst.	263.65	91.00	-65.5
IL&FS Transport	97.35	33.80	-65.3
Union Bank (I)	196.05	68.55	-65.0
Avanti Feeds	999.99	358.00	-64.2
Navkar Corporat.	218.85	79.70	-63.6
Greenply Inds.	401.05	146.25	-63.5
IFCI	34.55	12.68	-63.3
Bank of India	216.70	80.30	-62.9
Andhra Bank	73.45	27.45	-62.6
J Kumar Infra	375.00	140.45	-62.5
Forbes & Co	5290.00	1985.00	-62.5
S C I	113.50	42.65	-62.4
Bank of Maha	30.25	11.37	-62.4
Somany Ceramics	973.80	368.00	-62.2
NBCC	145.88	56.40	-61.3
Central Bank	93.95	36.40	-61.3
Deepak Fert.	499.80	194.00	-61.2
MMTC	67.73	26.60	-60.7
Oriental Bank	159.75	64.00	-59.9
Jindal Saw	182.00	72.95	-59.9
SpiceJet	156.25	63.30	-59.5
Reliance Power	65.20	26.50	-59.4
Allahabad Bank	89.15	36.25	-59.3
South Ind.Bank	34.75	14.28	-58.9
Motil.Oswal.Fin.	1585.00	657.00	-58.5
Jindal Stain.	132.40	54.95	-58.5
Jindal Stain .Hi	252.00	105.85	-58.0
Balrampur Chini	179.00	75.45	-57.8
Bharat Electron	192.95	81.90	-57.6
Symphony	2212.75	940.00	-57.5
Centrum Capital	87.30	37.20	-57.4
Can Fin Homes	565.70	242.30	-57.2
Allcargo Logist.	228.80	98.70	-56.9
Eveready Inds.	465.00	201.00	-56.8
Indo Count Inds.	138.70	60.15	-56.6
Force Motors	3928.00	1707.00	-56.5
Dewan Hsg. Fin.	690.00	300.00	-56.5
Redington India	210.05	91.60	-56.4
Jain Irrigation	150.40	65.65	-56.3
Reliance Capital	626.30	273.90	-56.3
Va Tech Wabag	650.00	284.75	-56.2
J & K Bank	91.65	40.50	-55.8
UCO Bank	38.40	17.00	-55.7
CG Power & Indu.	99.00	43.95	-55.6
Bombay Dyeing	321.60	144.20	-55.2
JM Financial	190.95	85.70	-55.1
Venky's (India)	4711.25	2133.00	-54.7
APL Apollo	2587.00	1173.75	-54.6
HSIL	564.35	258.50	-54.2
Texmaco Rail	128.80	59.00	-54.2
Kajaria Ceramics	763.90	351.45	-54.0
Tata Motors-DVR	261.80	121.65	-53.5
Hind.Copper	110.55	51.60	-53.3
I O B	28.70	13.41	-53.3
Jai Corp	223.30	104.50	-53.2
Reliance Nip.Lif	334.45	157.20	-53.0
India Cements	205.90	97.20	-52.8
Century Ply.	364.10	172.55	-52.6
Corporation Bank	52.45	24.90	-52.5
IRB Infra.Devl.	286.00	135.95	-52.5
Lak. Vilas Bank	174.43	83.35	-52.2
M R P L	146.25	70.20	-52.0
GIC Housing Fin	537.95	258.75	-51.9
Birla Corpn.	1290.00	621.00	-51.9
Dena Bank	32.00	15.45	-51.7
Tata Motors	466.95	225.55	-51.7
ITI	164.90	80.60	-51.1
JK Tyre & Indust	192.95	94.40	-51.1
Sadbhav Engg.	438.85	214.75	-51.1
Dhanuka Agritech	803.60	394.10	-51.0
Orient Cement	183.80	90.40	-50.8
H U D C O	89.85	44.25	-50.8
TV18 Broadcast	70.90	34.95	-50.7
Future Consumer	79.45	39.25	-50.6
Shankara Build.	2365.00	1169.50	-50.5
EID Parry	391.95	193.85	-50.5
G M D C	181.20	89.75	-50.5
Canara Bank	463.40	229.75	-50.4
Unichem Labs.	382.00	189.45	-50.4
ITD Cem	234.90	117.25	-50.1
List of stocks from S&P BSE 500 index
Source: CapitalinePlus, BSE