Tata Motors, LIC, Coal India, GAIL... nearly 500 stocks fall to 52-week lows today amid stock market crash

As many as 479 stocks, including Tata Motors, Coal India, LIC, GAIL, Indian Oil Corporation, Varun Beverages and Tube Investments of India, hit their 52-week lows in intraday trade on BSE on Tuesday, February 11, amid an across-the-board market selloff.

Aditya Birla Capital, Astral, Concor, Godrej Properties, Gujarat Gas, Honeywell Automation India, MRF, Tata Communications, Star Health and Thermax were also among the stocks that fell to their one-year low levels during the session.

Stock market today

Indian stock market extended the losses for the fifth consecutive session, with the Sensex and the Nifty falling over a per cent each.

The Sensex closed 1,018 points, or 1.32 per cent, down at 76,293.60, while the Nifty 50 settled 310 points, or 1.32 per cent, down at 23,071.80. The 30-share pack Sensex has crashed 2,290 points, while the Nifty 50 has lost 667 points or 2.8 per cent in the last five days.

The overall market capitalisation of BSE-listed firms has dropped to nearly ₹408.5 lakh crore from ₹425.5 lakh crore on February 4 when the Sensex ended in the green last time, making investors poorer by about ₹17 lakh crore in five sessions.

"The ongoing uncertainty surrounding US trade policies and tariffs, coupled with domestic economic growth concerns and persistent selling by FIIs, is dampening market sentiment. The mid-and small-cap stocks experienced significant declines due to demand concerns and higher valuations," said Vinod Nair, Head of Research, Geojit Financial Services.

"Although the RBI’s intervention provided some recovery for the rupee from yesterday's record low, it remains under pressure and is likely to keep the market volatile in the near term. Investors are anticipating the PM’s visit to the US for any potential relief in trade uncertainty. At the same time, the US inflation data later today will also be a key focus," Nair said.

On the technical front, Rupak De, Senior Technical Analyst at LKP Securities, pointed out that the Nifty 50 continues to decline as it remains below the critical 21EMA moving average.

"The trend remains weak. However, after a meaningful correction, the proximity to the falling wedge support could provide a reason for recovery. On the lower end, the 22,900–22,940 zone may act as strong support, while on the higher end, resistance is placed at 23,300," said De.

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