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70% of BSE-listed large-cap stocks are in the grip of the bears, lose up to 54% from the 52-week high

Moneycontrol

BSE Listed Stocks: With the bears’ grip on the stock market strengthening, on Monday June 20, 2022, BSE Sensex and NSE’s Nifty hit their lowest level in a year. Many large-cap stocks that are considered reliable are hitting new 52-week lows almost daily. Out of 101 stocks included in the BSE 100 stocks, 70 large-cap stocks performed extremely poorly. This emerged from the data received from AceEquity.

54% drop in Godrej properties

Large-cap stocks facing heavy losses include Godrej Properties, which is down 54% from its one-year high of Rs 2,598 in October last year. While the IRCTC is at 53%, Info Edge is down 52% from its one-year high.

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These large caps have broken up to 50% off the 52-week high

Lupine had reached a one-year high of 1,193 rupees in July 2021, which fell more than 50% to 598 rupees on Friday. The stock of Arvinda Pharma, another pharmaceutical company included in the BSE 10, fell 49% from its 52-week high. Hindalco, Tech Mahindra, Larsen & Toubro, Jubilant Foodworks, Piramal Enterprises, Wipro and Mindtree are among the stocks that are down 45-47% from their 52-week highs.

26% of actively traded stocks weaken by more than 50%

About 26% of actively traded stocks, or 890 BSE-listed stocks, are down more than 50% from their 52-week highs. Small cap and micro cap stocks suffered the most. This data from AceEquity is based on 2,985 stocks with prices included on Fridays.

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Apart from that, 88% of BSE-listed stocks are in bearish grip and are down more than 20% from their 52-week high.

380 stocks in the financial sector hit hard

The bearish blow to bank stocks so far has been minimal. This is the reason why, with the exception of banks, 380 stocks in the financial sector have become a strong hold of the bears. There was a strong hype of 228 stocks in the textile sector and 182 in the capital goods sector. Sector analysis shows that 114 of these stocks come from the FMCG sector. While 110 stocks come directly from agricultural products like sugar, rubber, tea and coffee.

Other stocks selling strongly include 83 stocks from the automotive and automotive auxiliary sectors, 79 from the building materials sector and 33 each from the banking and consumer durables sectors.

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