Lupin, SRF, TMPV, Maruti, NTPC among 74 BSE 500 stocks hit 52-week lows

74 BSE 500 stocks crash to 52-week lows on ThursdayMaruti Suzuki India, Tata Motors Passenger Vehicles (TMPV) and MRF from the automobiles; NTPC and Power Grid Corporation from the power; Bharat Dynamics, Cochin Shipyard, Garden Reach Shipbuilders & Engineers and Mazagon Dock Shipbuilders from the defence; and Crompton Greaves Consumer Electricals and Voltas from the consumer durable sector hit their respective 52-week lows on the BSE in Thursday’s intraday deals. A total of 74 stocks from the BSE 500 index hit 52-week lows in intraday deals today. The BSE 500 stocks account for 87 per cent of the total market capitalisation of the BSE-listed companies.

At 09:30 AM, the BSE 500 index was down 0.98 per cent, as compared to 0.66 per cent decline in the BSE Sensex. Meanwhile, Britannia Industries, Avenue Supermarts (DMart), Mahindra & Mahindra Financial Services, Max Healthcare Institute, Muthoot Finance, SBI Cards and Payment Services, Swiggy, Tube Investments of India and UTI Asset Management Company were among notable stocks from the BSE 500 index to also hit 52-week lows. These stocks were down up to 7 per cent on the BSE.

Benchmark indices were trading lower for the third consecutive session on Thursday, as selling across sectors amid elevated crude oil prices and concerns over corporate earnings weighed on sentiment. CHECK Stock Market LIVE Updates “Strong external headwinds in the form of elevated crude prices and high US bond yields are emboldening bears to build short positions in the market. This is the reason why the market is declining even on days of positive institutional - foreign institutional investor (FII) and domestic institutional investor (DII) - buying, like yesterday.

Sectoral churns towards fair-valued large-caps is the ideal investment strategy now. It may take time, but this strategy will certainly be rewarded," said V K Vijayakumar, Chief Investment Strategist, Geojit Investments. Indian equity markets remain under pressure, as persistently high crude oil prices and escalating geopolitical tensions weigh on investor sentiment.

WTI crude is trading near $98 a barrel, while Brent has moved above $110, keeping macroeconomic risks firmly in focus. The prospect of sustained energy-price pressures could temper hopes of a durable recovery in domestic equities, according to Ponmudi R, CEO of Enrich Money, a SEBI-registered online trading and wealth-tech firm. Escalating US-Iran tensions and reports of attacks on Saudi infrastructure have heightened concerns over prolonged disruptions to Middle Eastern energy supplies.

Uncertainty surrounding the Strait of Hormuz remains a key risk, with any further escalation likely to push crude prices higher and trigger renewed volatility across global markets. A meaningful easing of tensions, however, could help moderate the risk premium embedded in oil prices, said Ponmudi R. Disclaimer: Views and outlook in this report belong to the brokerages and analysts cited.

They do not reflect the views of Business Standard. Readers are advised to exercise discretion.