Five BSE sectoral indices hit 52-week low
Bankex, capital goods, metal, realty and power index hits 52 week low after S&P BSE Sensex crashed 449 points today.
The massive sell-off witnessed on the bourses today resulted in 4 sectoral indices of the Bombay Stock Exchange (BSE) hitting their 52 week intra-day low while real estate index hit an all-time low.
The BSE, banking index Bankex, capital goods, metal and power index hits 52 week low after the benchmark S&P BSE Sensex crashed 449 points or 2.34% to closing at 18,733 points today. Among the broader indices - S&P BSE mid-cap and S&P BSE small-cap hits 52-week lows.
The S&P BSE Sensex has tanked 1,569 points in past two weeks from level of 20,302 on July 23. The index had hit 52-week low of 17,251 on September 5, 2012.
SBI, ICICI Bank and YES Bank from banking, BHEL, Larsen and Toubro and Siemens from capital goods, DLF, HDIL and Unitech from real estate, Tata Steel, SAIL and JSW Steel from metal sector hit 52-week low.
Reality index which follows companies engaged in real estate and construction activities hit an all time low of 1,154 levels today before recovering to close at 1,261 levels. The reality index had hit an all-time high of 13,848 on January 8, 2008.
Companies like DLF, Housing Development and Infrastructure (HDIL), Orbit Corporation and Oberoi Realty were among the major losers and trading at their historic lows on concerns that there will be no chance of the interest costs declining in the near future as rupee hit new low against dollar today.
Over the past one month, the Reserve Bank of India (RBI), adopted aggressive measures to curtail the rupee’s slide such as tinkering with the daily borrowing limits by banks, reducing the liquidity adjustment facility (LAF), raising the marginal standing facility (MSF) rate, etc.
The strict guidelines introduced by the RBI have made real estate lending even more expensive and cumbersome.
The BSE, banking index Bankex, capital goods, metal and power index hits 52 week low after the benchmark S&P BSE Sensex crashed 449 points or 2.34% to closing at 18,733 points today. Among the broader indices - S&P BSE mid-cap and S&P BSE small-cap hits 52-week lows.
The S&P BSE Sensex has tanked 1,569 points in past two weeks from level of 20,302 on July 23. The index had hit 52-week low of 17,251 on September 5, 2012.
SBI, ICICI Bank and YES Bank from banking, BHEL, Larsen and Toubro and Siemens from capital goods, DLF, HDIL and Unitech from real estate, Tata Steel, SAIL and JSW Steel from metal sector hit 52-week low.
Reality index which follows companies engaged in real estate and construction activities hit an all time low of 1,154 levels today before recovering to close at 1,261 levels. The reality index had hit an all-time high of 13,848 on January 8, 2008.
Companies like DLF, Housing Development and Infrastructure (HDIL), Orbit Corporation and Oberoi Realty were among the major losers and trading at their historic lows on concerns that there will be no chance of the interest costs declining in the near future as rupee hit new low against dollar today.
Over the past one month, the Reserve Bank of India (RBI), adopted aggressive measures to curtail the rupee’s slide such as tinkering with the daily borrowing limits by banks, reducing the liquidity adjustment facility (LAF), raising the marginal standing facility (MSF) rate, etc.
The strict guidelines introduced by the RBI have made real estate lending even more expensive and cumbersome.
Bankex also hits 52-week low on worries that continued monetary tightening would drive up bad loans. The rupee touched a record low 61.81 against the dollar in noon deals today.
Meanwhile, the government's measures to contain the free fall of rupee in the past few days has met with utter disappointment as the rupee has only continued to slide.
YES Bank, ICICI Bank, HDFC Bank, IndusInd Bank, Union Bank of India, Bank of India, Canara Bank and Bank of India were down 4-9%.
Analyst says, the rupee has been weakening even after the liquidity measures taken by the RBI, largely due to the high current account deficit (CAD).
Post the recent RBI policy meeting, markets have been expecting some measures from the Government to control the depreciation of the rupee. The Government has relaxed some of the FDI rules to encourage more flows to come in. However, these have not had any impact and further steps are needed to either curtail the CAD or finance it, and thereby stem the depreciation of the rupee, said Dipen Shah, Head of PCG Research, Kotak Securities.
Meanwhile, out of BSE-500 companies, as many as 133 scrips touched 52-week low today. The list includes Jet Airways, LIC Housing Finance, Wockhardt, Tata Power Company, HPCL, BPCL and Grasim Industries.
Meanwhile, the government's measures to contain the free fall of rupee in the past few days has met with utter disappointment as the rupee has only continued to slide.
YES Bank, ICICI Bank, HDFC Bank, IndusInd Bank, Union Bank of India, Bank of India, Canara Bank and Bank of India were down 4-9%.
Analyst says, the rupee has been weakening even after the liquidity measures taken by the RBI, largely due to the high current account deficit (CAD).
Post the recent RBI policy meeting, markets have been expecting some measures from the Government to control the depreciation of the rupee. The Government has relaxed some of the FDI rules to encourage more flows to come in. However, these have not had any impact and further steps are needed to either curtail the CAD or finance it, and thereby stem the depreciation of the rupee, said Dipen Shah, Head of PCG Research, Kotak Securities.
Meanwhile, out of BSE-500 companies, as many as 133 scrips touched 52-week low today. The list includes Jet Airways, LIC Housing Finance, Wockhardt, Tata Power Company, HPCL, BPCL and Grasim Industries.
| Price on BSE in Rs | |||
| Company | Aug 6,13 | 52-Wk high | %chg |
| Wockhardt | 381.30 | 2166.05 | -82.40 |
| Karnataka Bank | 70.15 | 198.80 | -64.71 |
| SAIL | 38.15 | 101.60 | -62.45 |
| BHEL | 112.95 | 272.45 | -58.54 |
| DLF | 122.15 | 289.20 | -57.76 |
| Tata Steel | 198.60 | 448.10 | -55.68 |
| Jet Air India | 311.25 | 688.60 | -54.80 |
| HPCL | 178.45 | 381.40 | -53.21 |
| MCX | 795.30 | 1617.00 | -50.82 |
| Yes Bank | 274.45 | 547.15 | -49.84 |
| LIC Housing Fin | 160.60 | 300.00 | -46.47 |
| Corporation Bank | 268.00 | 494.85 | -45.84 |
| Siemens | 427.25 | 749.95 | -43.03 |
| Sterlite Inds | 71.40 | 123.35 | -42.12 |
| BPCL | 261.50 | 449.00 | -41.76 |
| Tata Power | 71.35 | 113.20 | -36.97 |
| SBI | 1640.75 | 2550.00 | -35.66 |
| L&T | 795.30 | 1146.34 | -30.62 |
| Grasim Inds | 2444.15 | 3511.00 | -30.39 |
| ICICI Bank | 866.25 | 1236.90 | -29.97 |
| Source : Capitaline Plus | |||
| Data complied by BS Research | |||