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In market mayhem on March 23, 2020 which saw the benchmark indices plunging by over 12%, more than 1000 stocks on the BSE hit 52-week low. At around 3:03pm, Sensex is down by 12.91% or 3862.80 points at 26,053.16, while Nifty plunged 12.53% or 1096.05 points to 7649.40.
Bank Nifty was the worst hit with a decline of 17% as there is seen a threat to rise in NPAs amid virtual lockdown due to coronavirus infection. The losses were led by Axis Bank and IndusInd Bank which sank 23-24% in trade today followed by other banking names including ICICI Bank, HDFC Bank, SBI and Kotak Mahindra Bank.
SBI shares cracked over 13.5% in intra-day trade today. The stock hit a new 52-week low of Rs. 180.35 per share.
All together 1180 stocks on the BSE hit their 52-week lows including stocks such as Axis Bank, Bajaj Finserv, IndusInd Bank, M&M Financial, Max Financial, NIIT Tech, Bandhan Bank, Bajaj Finance, L&T, Canara Bank, ACC etc.
Nonetheless defying overall market mood, some 16 stocks hit their 52-week high including stocks such as IPCA Lab, Ruchi Soya among others.
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