Mumbai: A record number of 395 stocks, mostly from the mid-cap and small-cap category, hit their 52-week lows on Tuesday, as market sentiments favoured investors staying with large-cap names and shedding under-performing names in the broader market.
The prominent names that hit 52 week-lows include Aditya Birla Money, Andhra Bank, Balmer Lawrie, GNFC, Graphite India, HUDCO, Hindustan Aeronautics, IIFL Hold-ings, India Cements, Khadim India, Network 18, Rallis India and Sadbhav Engineering.
Last year Graphite India, had hit a high of Rs 1,126 but on Tuesday, it fell to a 52-week low of Rs 395 and finally closed at Rs 421.50 on the BSE.
HAL, the initial public offering of which hit the market last year for Rs 1,215, hit a 52-week low of Rs 638.50 before closing at Rs 641.20.
Khadim India, another company listed in 2017, touched an yearly low of Rs 370.05 against its yearly high price of Rs 862.
“Fiscal year closing, leading to profit-loss adjustments and book trimming by fund houses were adding to selling pressure in the mid-cap and small-cap names,” said Kishore P Ostwal, CMD, CNI Research.
