Nifty50 trades below 200-DMA: 4 PSUs among 16 stocks that fell up to 26% in the last one month
As valuations and continuing FII sell-off hurted sentiment on the D-Street as many as 14 stocks from the bluechip Nifty index lost significantly in the last one month.
Nifty charts as per analysts are suggesting move of the RSI into the oversold zone for the past two session and the index has slipped below the key 200-day moving average. The sentiment shows selling pressure to be eased and Rupak De, Senior Technical Analyst hints that in the short term, the index may recover towards 23,700–23,800. On the downside, support is positioned at 23,200–23,300.
So, while the macros may determine (including key macro data ranging from flash PMI surveys to bank deposit and loan growth) may dictate equities movement, here are a few stocks from the bluechip index that have lost up to 26 per cent of their valuation.
IndusInd Bank
The stock has slumped over 25 per cent in the last one month. The stock's share price was at Rs 1,347 a month-ago and now has tumbled to Rs 1004.6
Trent
After giving multibagger returns for quite a long time, the stock has been in a consolidation phase and now in the last one month has declined 18 per cent.
BPCL
Shares of the oil-marketing company are also on the downward journey and have collapsed over 15 per cent of its share price today.
Asian Paints
After dismal Q2 show amid weak consumer sentiment, the stock has lost nearly 17 per cent in the last one month with its stock last trading at Rs 2,482 apiece.
Britannia
The stock in the last one month has tumbled 17 per cent as urban consumption cotinues to weigh in. The stock last closed at Rs 4,915 apiece.
Coal India
Coal India is on a losing streak and has lost over 16 per cent during the review period.
Tata Motors
As the company reported weak Q2 numbers but even though the management's outlook for its JLR segment remained strong, the stock has lost a considerable over 15 per cent in the last one month.
Shriram Finance
The stock in the last one month has lost close to 15 per cent and was last trading at Rs 2,840 apiece.
NTPC
The scrip amid news of its renewable energy IPO and higher valuation is down over 13 per cent in the last one month.
Bajaj Finserv, Bharti Airtel, ONGC, Hindustan Unilever, Tata Consumer Products and Hindalco
Other top losers having lost between 10-15 per cent during the period are stocks like TCPL, Hindustan Unilever, ONGC, Bharti Airtel.