Almost 1000 stocks hit lower circuit, 50 touch new 52-week low in biggest market fall on Monday

As many as 1000 stocks hit a respective lower circuit, while over 50 counters registered 52-week low on the biggest fall since April 2021. The Indian markets are seeing a ripple effect amid global weakness, as the Sensex down over 2,000 points and Nifty50 fell 17,150-intraday on Monday. 

From the group A category, at least 20 stocks such as Cotton Greaves, Gujarat Mineral Development Corporation each have hit a lower circuit of 10 per cent each. While Deepak Fertilisers, IRB Infra, PNB Housing, Tanla Platforms, Tejas Network and Adani Green each touched a lower circuit of 5 per cent. 

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While stocks from the broader markets fall under the A category that hit lower circuit up to 5 per cent are: Network18, Reliance Power, Suzlon, MTNL, HCC, Bajaj Hindustan, Dish TV among others. 

Of across categories, the XT category saw maximum lower circuit stocks, around 350, followed by X and T categories each had around 200 and 150 stocks that have hit a lower circuit on Monday. While in the B category, as many as 160 stocks witnessed a lower circuit during today’s session.  

Indian Nippon Electricals, CyberTech, Latent View, Talbros Automotive, among others hit 10 per cent lower circuit, while Genesys International, EaseMyTrip, Nazara Tech, Zensar Tech, JBM Auto, Donear Industries among others touched a lower circuit of up to 5 per cent on Monday. 

Similarly, over 50 stocks have reported a new 52-week low, in this, the heavyweights such as HDFC Life Insurance, HDFC Asset Management Company and SBI Cards hit their respect new 52-week low to Rs 619.35, Rs 2235.8, Rs 800.05 per share respectively on the BSE. 

While other prominent stocks such Cadila Healthcare, Aurobindo Pharma, Jubilant Pharmova, LIC Housing Finance, among others have also hit their respect 52-week lows during today’s session. 

The market is overreacting to US Fed tightening and we may see some short-covering after the Fed meeting outcome scheduled on this Wednesday, Parth Nyati, Founder, Tradingo said in a note.