12 Bluechip Stocks Reach Mouthwatering 52-Week Lows, Fall Below 200-DMAs

Markets dipped once again below the 58,000 points level on the Sensex. Domestic equities swung between gains and losses after US Fed continued with its rate hike trajectory. Statement by Treasury Secretary to not provide blanket insurance to all the banks impacted sentiments.

Here are some stocks that hit 52-week lows in trade

Barbeque Nation, Caplin Labs, Gujarat Alkali, Mphasis, Pfizer, Sheela foam, Tanla Platforms, Tide Water Oil, TMB, Visaka and Wipro. These stocks also dropped below their 200-day moving averages. Please note that some of these stocks are high-quality stocks, and the reasons for a fall in these stocks could be many. Please study before buying and a fall to 52-week low levels may not necessarily make them good picks.

There are several other stocks too that have fallen to 52-week lows, but, we have highlighted just 12 of the good quality ones.

Markets trade in a range

Meanwhile, Nifty opened lower on back of weak global cue. It saw some respite mid-day by getting into green zone. However, last hour selling dragged the index down to close with loss of 75 points at 17077. Sectorially it was mixed bag. The US Fed did very little to provide a concrete direction to the market. Their resolve to control inflation remains strong despite the ongoing banking turmoil.

"Bank of England too is expected to hike rates by 25bps. Overall, we expect Indian markets to remain range bound due to lack of triggers. Global environment continues to remain volatile. FIIs too have been consistent sellers for last few days, which could keep the market under pressure," Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd

Disclaimer

The article is for information only and highlights good quality stocks hitting 52-week lows. These should not be construed as a "buy", "sell" or hold from our side. Greynium Information Technologies Pvt Ltd and the author should not be held responsible for losses based on a decision from the article.