Coronavirus Effect: RIL, TCS HDFC Bank among 1,180 stocks to hit 52-week low
Despite this, shares of 13 companies, including Ruchi Soya Industries and Apollo Finvest (India) Ltd, managed to make gains
As the market rout continued, as many as 1,180 stocks, including Reliance Industries, Tata Consultancy Services and HDFC Bank, touched their 52-week low levels on Thursday.
Despite this, shares of 13 companies, including Ruchi Soya Industries and Apollo Finvest (India) Ltd, managed to make gains and hit 52-week high levels on the BSE.
After nosediving over 3,204.30 points during the day, the BSE's benchmark Sensex settled 2,919.26 points or 8.18 per cent lower at 32,778.14 as the coronavirus pandemic wreaked havoc on global markets.
"Recession fears increased after WHO declared coronavirus a pandemic which forced investors to sell-off risky assets. Fresh travel bans across nations is contributing to the fears that economic impact will be much larger than earlier estimates," said Vinod Nair, Head of Research at Geojit Financial Services.
Apart from RIL, TCS and HDFC Bank, shares of Hero MotoCorp, GAIL, ACC, ABB, BEML, Glenmark Pharmaceuticals and Gillette, also featured among those that touched their 52-week low levels on BSE.
Besides, Axis Bank, Bajaj Auto, Bank of Baroda, BHEL, HDFC, HCL Technologies and Aurobindo Pharma also hit their 52-week low levels.