Stock market update: Over 40 stocks touch their 52-week low level on NSE

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NEW DELHI: Over 40 stocks including Assam Company India, Bharati Defence and Infrastructure, Burnpur Cement, Cambridge Technology Enterprises and Flexituff International hit 52-week lows on NSE during Thursday’s session.

Galaxy Surfactants, Hindustan Aeronautics, Jagran Prakashan, Khaitan Electricals, Mandhana Industries, Rana Sugars, Tamilnadu Telecommunication and Videocon Industries also featured among stocks that touched 52-week lows on NSE.

Domestic equity markets were under pressure, in line with Asian peers.

Investors’ risk appetite got a hit after the US Federal Reserve hiked interest rates for the second time this year and hinted at two more such hikes in the remainder of 2018.

Moreover, concerns over widening current account deficit (CAD) at home and data showing lower-than-expected Chinese factory output growth too weighed on the sentiment.

Market participants were eyeing May wholesale price inflation data, to be released later today, for fresh cues.

The NSE Nifty index was trading 67 points down at 10,790, while the BSE Sensex was down 195 points at 35,544 around 11:10 am.

HCL Technologies, Sun Pharma, Bharti Airtel, Cipla and Indiabulls Housing Finance were leading among the Nifty gainers.

On the other hand, Infosys, Tech Mahindra, State Bank of India, GAIL (India) and HPCL were among the top losers in the Nifty index.

Source: Economic Times