Eight Nifty stocks hits 52-week low

Tata Motors, ONGC, Vedanta, Hindalco, Cairn India, NTPC, NMDC and Gail India has touched 52-week lows on the NSE.

Eight stocks – Tata Motors, Oil and Natural Gas Corporation (ONGC), Vedanta, Hindalco Industries, Cairn India, NTPC, NMDC and Gail (India) - from the 50 Nifty companies have hits their respective 52-week lows in intra-day today.

Reliance Capital, Amtek Auto, HEG, Hindustan Zinc, Just Dial, Kaveri Seed Company, Graphite India and IL&FS Transportation Networks are among 19 stocks from the NSE CNX-500 index to touch 52-week lows.

Shares of oil and gas exploration companies such as Cairn India and ONGC are reeling under a bear grip following the crash in global crude oil prices. From their 52-week highs, Cairn India has tanked 58% and ONGC has lost 44% as investors worry about their earnings and margin prospects.

The Indian basket of crude oil prices has plummeted to $47.98 a barrel, the lowest in more than six months, as global benchmarks continued their slide due to higher US stockpiles and production volumes, coupled with a rout in the Chinese equity market, dampened demand. CLICK HERE TO READ FULL REPORT.

Hindalco Industries, Vedanta and NMDC from the metal pack are witnessing selling pressure due to softening global commodity prices and concerns over slowing demand from China, while Tata Motors has slumped on worries that the slowdown of its luxury car Jaguar Land Rover (JLR) sales in China could worsen further in wake of the sluggish economy in China.

CNX Metal index, which is down 2.2% at 1,842 points, has hit a fresh 52-week low of 1,838 in intra-day trades on the NSE.

Kaveri Seed Company, Amtek Auto, Just Dial and Reliance Capital are trading lower after reporting a disappointing set of numbers for the quarter ended June 30, 2015 (Q1).

	Price on NSE in Rs
Name	LTP	52-week high	% chg*
Vedanta	99.15	305.50	-67.5
Cairn India	143.55	344.40	-58.3
Hindalco Inds.	84.55	185.65	-54.5
NMDC	94.35	187.80	-49.8
ONGC	255.00	457.95	-44.3
Tata Motors	342.00	605.90	-43.6
GAIL (India)	321.70	551.90	-41.7
NTPC	127.00	164.75	-22.9
LTP - Last traded price at 01:49 PM
*Change over 52-week high