These 10 Largecap Stocks Near 52-Week Lows, What's Ailing Some Of These Stocks?

Markets have been trading in a bit of a range for several months now. The 58,000 to 62,000 points band on the Sensex has become the norm. However, the broader markets are seeing great pain and here are some largecap stocks that have fallen to near 52-week lows.

Stocks near 52-week lows

Company name	Current market price	Distance from 52-week lows
Reliance Industries	2322	1.28%
ICICI Prudential	394	1.76%
ICICI Lombard	1075	0.39%
Bandhan Bank	224.85	6.80%
Divi's Labs	2787	1.70%
HDFC Life	490	3.38%
Wipro	389	4.29%
Cipla	881	3.38%
LIC	595	4.95%
Tata Consumer	704.40	3.71%

Why these quality bluechips are at 52-week lows?

Some of these stocks have sector specific issues, while some has individual growth related problems. Stocks from the life insurance space have been impacted by the budgetary recommendations and some encouragement to move to the new tax slab. It's important that when you buy some of thees stocks you study the fundamentals and if there are structural issues, there could be a more prolonged downturn. This has led to some of these stocks falling. Meanwhile, Indian markets continue to fall. According to Dr. Joseph Thomas, Head of Research, Emkay Wealth Management on the markets, the weakness displayed by the equity market during the course of the current week was generated by the recent developments abroad, and it reaffirms the close alignment of the local market with other major markets abroad. "The statement from the Fed Chairman that the Fed would be prepared for an acceleration of the pace of rate hikes, if required, to enable it to contain inflation more rapidly and attain the target rate of inflation was a bit of a shock for the market participants who had already concluded that the Fed policy going ahead would be more moderate. This statement took the wind out of the sails for a while. The other remote factors that have been affecting the markets below the surface are the recent intensification of the Russian offensive on Ukrainian territories, and also the general perception that economic growth may be more sluggish than expected in many territories in the current year," the brokerage said in a report.