Stock market crash: Nearly 200 stocks hit 52-week lows
New Delhi: The mayhem in the market on Tuesday pulled down nearly 200 stocks to their respective one-year low levels on BSE with benchmark Sensex nosediving nearly 3.6% in early trade.
Around 188 stocks, including Aditya Birla Capital, Andhra Bank, Bajaj Hindusthan Sugar, BGR Energy Systems, Central Bank of India, Cummins India and Godfrey Phillips India, hit fresh 52 -week lows on BSE as the Sensex lost about 1,275 points due to across-the-board losses after investor sentiment was hit by a sell-off in world markets.
Hindustan Composites, India Cements, Kalyani Steels, Max India, Max Financial Services, Monnet Ispat and Energy, National Fertilisers, Orient Bank of Commerce, Tata Motors, Union Bank of India, Uttam Galva Steels, Welspun India also joined the bandwagon of stocks that hit new 52-week lows on the 30-share index.
Extending its falling streak for the sixth straight session, the Sensex fell by 1,274.35 points, or 3.66%, to 33,482.81 with all sectoral indices led by realty, consumer durables, metal and banking trading in the negative zone.
Following the market crash, the total market capitalisation of BSE listed companies stood at Rs14,300,981 crore, down from Rs14,795,747 crore on Monday.
All the components of BSE Sensex and NSE Nifty 50 were trading in the negative territory.
The benchmarks nosedived in reaction to a sharp fall in global equity markets. In the US, Dow suffered its deepest fall in history, erasing all of its 2018 gains. Asian markets followed the trend with Tokyo diving more than 5%, Hong Kong 4% and Sydney 3%, Singapore 2.3%, Seoul 3%, Taipei 3.7%, and Shanghai 2.1%.