Over 20 stocks hit fresh 52-week low

NEW DELHI: Marred by the prevailing gloom in Asian markets after a bevy of disappointing corporate results, the domestic equity markets began Friday’s session in the negative zone with over 20 stocks hitting the new 52-week low on NSE.

FCS Software, Salasar Techno Engineering, Mandhana Industries, Gemini Communication, Cambridge Tech, Bhagyanagar Properties, Ajanta Pharma, REI Agro, Dynemic Product, Prakash Steel and KSS were among the stocks that hit their fresh 52-week low.

On the other hand, Tata Investment, Eastern Silk, Lakshmi Machine, Mahindra CIE Auto, IGL, JP Associates, YES Bank, M&M Financial, HDFC, Adani Ports SEZ, Tata Elxsi and Coral India Finance & Housing were among the 25 stocks that hit their fresh 52-week high today.

The broader markets saw a slump today with pharma, metal and IT stocks performing low on account of less–than-expected corporate earnings.

Dr. Reddy’s Laboratories (down 5.69 per cent) was the biggest loser in the Nifty chart after the pharma giant reported over 57 per cent drop in net profit for Q1FY18.

YES Bank (up 1.79 per cent) bucked markets’ downward trend and emerged as the top gainer in the Nifty chart. Notably, the bank reported a 32 per cent rise in net profit to Rs 966 crore in the quarter through June.

Barring banking and realty indices, all other sectoral indices were trading in red on NSE.

Nifty50 index was 33 points down at 9,988, while the 30-share Sensex was 139 points down at 32,243 around 11.05 am (IST).

In the Nifty50 pack, 19 stocks were trading up, while 32 stocks reflected slump.

On BSE, 804 stocks were advancing whereas 954 stocks were lagging.

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