Stock market update: Over 85 stocks hit 52-week lows on NSE

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NEW DELHI: Over 85 stocks including Andhra Bank, Bank of India, BHEL and Can Fin Homes hit 52-week lows on NSE during Friday’s session.

Century Plyboards (India), Dena Bank, Dhunseri Investments, Grasim Industries, IndoStar Capital Finance, JK Cement, Kajaria Ceramics, Mangalam Cement, NBCC (India), NMDC and Water Oil Company (India), Water Oil Company (India), Union Bank of India, UPL and Vedanta also featured among the stocks that touched 52-week lows on NSE.

Market erased the gains of the opening session on fresh selling in bank, oil, auto and FMCG stocks.

Weak macro triggers turned investors cautious even as global cues were firm.

On Thursday, government data showed that the retail inflation accelerated to a five-month high of 5 per cent in June compared to 4.87 per cent in May, while industrial production moderated to 3.2 per cent in May compared to 4.9 per cent in April.

The NSE Nifty index was trading 14 points down at 11,009, while the BSE Sensex was up 10 points at 36,558 around 11:10 am.

In the Nifty index, 16 stocks were in the green, while 34 were in the red.

Infosys, Wipro, Reliance Industries, Kotak Mahindra Bank and Coal India were among the top gainers in the Nifty index.

UPL, Bharti Infratel, HCL Technologies, Axis Bank and State Bank of India were among the top losers in the Nifty pack of stocks.

Source: Economic Times