61 Scrips Hit 52-Week Low

The selloff on the bourses did not spare engineering-to-construction giant Larsen and Toubro and multinationals Castrol, Smithkline Beecham Consumer and Smithkline Beecham Pharmaceuticals. They closed at 52-week low levels yesterday.

The bear hammering of old economy stocks has seen nearly five pharma scrips reach their 52-week lows.

The bearish trend at the Bombay Stock Exchange has seen nearly 61 stocks hitting a 52-week low yesterday. Of them, 11 each were from the A and B1 groups, while 35 scrips belonged to the B2 group and four to the Z group. Only three were information technology stocks.

In terms of market capitalisation, the companies have lost almost 60 per cent from their 52-week high levels and now stand at Rs 23,601 crore.

The weak sentiment and heavy selling pressure has seen nearly 676 scrips touching their 52-week low levels since April 1, 2000. Of them, 57 were from the A group, 274 from the B1 group and 236 scrips from the B2 group. The rest were from the Z group.

Meanwhile, nearly 334 scrips are nearing their 52-week lows. Of which, 46 are from the A group, 162 from the B1 group and 111 from the B2 group.