6 Bluechip Stocks At 52-Week Lows; Do You Own Them?

Markets have been falling dramatically over the last few days, thanks to the sharp pressure being seen in IT Stocks.

The Nifty opened higher but soon erased the gains and closed with a loss of 45 points at 17662 levels. The broader market outperformed with the Nifty midcap 100 up 0.8% and the Nifty smallcap 100 up 0.3%. Pharma and Realty sectors were major gainers today - up more than 1% each. A relief rally was seen in pharma on the expectation of a good quarter after select companies reported healthy export numbers.

"On the global front, upbeat Chinese GDP data did not provide much respite to markets, as investors remained cautious due to slowing economic growth in other major regions. After witnessing a rally in the last few trading session, Nifty is now consolidating in a range in the absence of any major domestic cues. Now the focus will be on global cues with major U.S. banks and Tech companies due to announce their earnings," says Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd. Bluechip stocks too have fallen in line with the markets.

Here are 6 bluechip stocks that have fallen to new 52-week lows

Shares of AllCargo Logistics dropped to a 52-week low of Rs 247.20 on the National Stock Exchange, while Genesys Int fell to a 52-week low of Rs 305.50 on the NSE. Other stocks that dropped to a new 52-week low were stocks like India Glycols, Optiemeus Infra, Punjab Chemicals, and Quick Heal Technologies.

It's important for readers to note, that stocks at lows does not make them automatically attractive. The thing that should be utmost in the mind of readers is the fundamentals of the company. Sometimes structural changes in the fundamentals of the company could badly impact a stock.

However, at other times it must be an industry specific phenomenon, say like a hike in raw material or input costs. Look for companies that pay good dividends and have a good track record.

Disclaimer

The stocks mentioned above are not a "buy", "sell" or "hold" call from our end. We do not make stock recommendations and the above just highlights stocks falling to 52-week lows. Neither Greynium Information Technologies Pvt Ltd, nor the author should be held responsible for losses based on the above article.