8 Nifty Stocks That Are Down Between 29-39% Since The Time Nifty Hit ATH In Oct 2021

It is a free fall in the world over markets on aggressive Federal Reserve expectations. As per the New York Times report, there is a view that the Fed may discuss the biggest rate hike move since 1994. Thanks to the scorching high inflation which continues to be maintained at a 40-year high level, so though 2 of the major indices of the US markets are said to be in the bear territory, there is expected some more 4-5% correction in Indian markets. This shall likely take Nifty to levels between 14,800-15,000.

Nifty's and its constituents fall from the All time high

Nifty strike levels of 18,604.45, its all time high level, on October 19, 2021. Since then profit booking and global headwinds coupled with the ongoing Ukraine-Russia crisis weighed on sentiments. Also, the inflationary pressure continued to take toll. So, even as the Nifty correction from its all time high has been over 15%, there are some stocks that have battered even more.

Since that time, there are some 8 stocks from the Nifty pack that are down up to 39%. Here's the list of these Nifty stocks along with the fall.

 

Nifty stocks that are down up to 39% from the time Nifty hit all time high

 

Stock	Fall since October 18, 2021	CMP	52-Week low
Bajaj Finserv	39.00%	11386.05	10868
Wipro	37.00%	446.1	347.1
Divis Labs	35.00%	3474.15	3365.55
Shree Cements	33.00%	19135.65	18591.4
Hindalco	32.00%	366.45	359.8
Bajaj Finance	32.00%	5358.25	5267
BPCL	31.00%	317.95	312.2
Tata Steel	29.50%	991.95	596

Which stocks to buy now after the sharp fall from the list above?

As per experts, investors should be in the wait and watch mode as a further correction is highly likely. Also, from the above big financial names could be lapped up at the correct levels, precisely when there is confidence reached that the central banks are now in a comfortable situation to tackle the inflationary threat. "For a few days at least, people should just leave it because you do not have to buy everyday", says experts from the field.

On the stocks to avoid at comfortable levels, there is given a strict no to commodities stock which come under pressure as the inflation eases. So, at best currently you can consider sitting on cash.