ITC, Maruti Suzuki, TCS, Wipro, HDFC Bank, Cipla hit 52-week low

ACC, Ambuja Cements, Nestle India, Thermax and Tech Mahindra are from 73 stocks from BSE500 index hit 52-week lows.

ITC, Maruti Suzuki India, Tata Consultancy Services (TCS), Wipro, HDFC Bank and Cipla from the 30 share S&P BSE Sensex index hitting their respective 52-week lows after the index tanked 660 points during intra-day trade.

ACC, Ambuja Cements, Kotak Mahindra Bank, Nestle India, Thermax and Tech Mahindra are from the 73 stocks from BSE500 index touching their 52-week lows.

The S&P BSE Sensex hit an intra-day low of 22,494.61, also its 52-week low.  The National Stock Exchange (NSE), Nifty 50 index too fallen to its 52-week low of 6,826, down 204 points in intra-day trade.

Shares of public sector banks (PSBs) have fallen by up to 7% from its early morning high on the bourses after the Finance Minister Arun Jaitely have made allocation of Rs 25,000 crore for recapitalisation of public sector banks in Union Budget 2016, which is lower than market expectation.

Reacting the news, Oriental Bank of Commerce (Rs 75.15), Union Bank of India (Rs 104.55) and Canara Bank (Rs 156) has touched their respective 52-week lows.

ITC has cracked 8% to Rs 268 after the Finance Minister hiked excise duty on tobacco products by 10 to 15%.

Finance Minister Arun Jaitley in his speech on Union Budget 2016-17 in Lok Sabha today, 29 February 2016, hiked excise duty on tobacco products by 10% to 15%.

At 12:46 PM, the benchmark indices gain some ground with the S&P BSE Sensex was down 262 points or 1.1% at 22,892, while Nifty 50 down 1.4% or 96 points at 6,934.