4 Stocks That Hit Lower Circuit

The Indian markets ended below in Friday's trading session. The BSE Sensex was down by 223.01 points (0.35%) to 62,625.63 and the Nifty 50 was low by 71.15 (0.38%) at 18,563.40. Along with the Indian Markets, some of the stocks hit the bottom as well. Among the stocks that were down, we have identified 4 stocks that hit lower circuits today, June 9, 2023.

These stocks hit lower circuits due to a variety of factors, including negative news flow, profit booking, weak market sentiment, or a combination of factors. Investors should exercise caution before investing in these stocks.

Here are 4 Indian stocks that hit the lower circuit:

1. Bhansali Engineering

Bhansali Engineering is a small-cap company incorporated in 1986 operating in the petrochemicals sector. It has a market capitalisation of Rs 2,268.76 crores. The stock hit a lower circuit of 13.80% at Rs. 136.75 per share.

2. Indian Energy Exchange

Indian Energy Exchange is a mid-cap company incorporated in the 2007 financial services sector. It provides a trading platform for energy (power), which is regulated by the Central Electricity Regulatory Commission. It has a market capitalisation of Rs 11,017.69 crores. The stock hit a lower circuit of 10.15% at Rs. 122.60 per share.

3. Praxis Home Retail Limited

Praxis Home Retail Limited operates an online portal and retail store for the sale of home furnishing products. The company offers bed sheets, cushions, and towels, as well as home design, modular kitchen, tiles, plumbing, wallpaper, and flooring services. Praxis Home Retail Limited serves customers in India. It is a penny stock company that hit a lower circuit of 3.97% at Rs 12.1. The company has a market capitalisation of Rs 138.96 crores

4. Persistent Systems

Persistent Systems is a mid-cap company incorporated in 1990. It operates in the IT Software sector and has a market capitalisation of Rs 37,556.32 crores. The stock of the company hit a lower circuit of 4.38% at Rs 4981.05 per share.

The lower circuit is a trading mechanism that prevents the price of a stock from falling below a certain level. This is done to protect investors from large losses. The lower circuit is triggered when the price of a stock falls by a certain percentage, which varies depending on the stock exchange.

Investors should be aware of the lower circuit and its implications for their investments. If a stock hits a lower circuit, it may be a sign that the stock is oversold and may be a good time to buy. However, investors should also be aware of the risks involved in buying a stock that has just hit a lower circuit.

Disclaimer
Please note that the above-mentioned data that the stock price has grown should be treated as purely informational and not an advisory to investing. These should not be construed as recommendations to either hold, buy, or sell in the stocks listed above. We have not done any detailed fundamental analysis, hence caution should be exercised while investing. Neither Greynium Information Technologies nor the author would be held responsible for the losses incurred due to any decision taken based on this write-up.