SBI, Axis Bank, ICICI Bank, L&T, BHEL hit 52-week lows
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Shares of State Bank of India (SBI), Axis Bank, ICICI Bank, Larsen & Toubro (L&T) and Bharat Heavy Electricals Limited (BHEL) are among five Sensex stocks to hit their respective 52-week lows on the Bombay Stock Exchange (BSE) after the benchmark index dropped more than 1% today.
The NSE Nifty 50 index and the BSE Sensex have fallen more than 1% in early morning trade after China's regulators halted trading for the day following a sharp plunge in Chinese shares. Indian markets continued to post losses for four consecutive trading sessions mainly on concerns of global weakness and correction in oil prices.
BHEL (Rs 160), PNB (Rs 107), Axis Bank (Rs 418) L&T (Rs 1,213) and SBI (Rs 212) were down 2%-3% on the NSE.
Allahabad Bank, Bank of India, Canara Bank, Punjab National Bank (PNB), Indian Bank, Alstom T&D India and Sunrise Asian from the BSE500 index have touched 52-week lows today.
Meanwhile, Tata Consultancy Services (TCS), ACC, Dr Reddy’s Laboratories, Bajaj Electricals, Bank of Maharashtra, Vijaya Bank, SKF India, Federal Bank, Indian Overseas Bank, Orient Cement, Bayer Crop Sciences, Container Corporation of India and Procter & Gamble Hygiene and Health Care from the BSE500 index are trading nears to their 52-week lows.
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President William Ruto in a state of the nation address said the decision was made based on new information provided by our investigative agencies and partner nations. He didn't specify the United States.
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