INSUBCONTINENT EXCLUSIVE:
NEW DELHI: As many as 307 stocks, including Can Fin Homes, Capital First, Corporation Bank, Cummins India, Deepak Fertilizers and
Petrochemicals Corporation, Den Networks and Dena Bank hit 52-week lows on NSE on Monday
Ambuja Cements, Andhra Bank, Atlas Cycles (Haryana), Bank of India, BHEL, Dollar Industries, Federal Bank, HDIL, IDFC, IDFC Bank, INOX
Leisure, Jet Airways (India), Manpasand Beverages, Mangalam Cement, PC Jeweller, Power Finance Corporation, Tata Motors, Union Bank of India
and Vedanta too featured among stocks that touched 52-week lows on NSE.
Frontline equity indices Sensex and Nifty extended losses to the
second consecutive session on Monday owing to losses in metal, pharma, auto, bank and energy stocks, while weak macroeconomic indicators and
mixed global cues kept investors' mood subdued
Sensex registered a muted start in the light of tepid Asian cues after an official data showed that China's economy slowed a little in
Moreover, a set of weak macroeconomic numbers eroded market optimism.
Market's risk appetite was dealt a blow after India's trade
deficit widened to its highest in more than five years in June, the trade ministry said on Friday, driven largely by a surge in oil prices
The market mood got further hit as a government data released today showed that the inflation based on wholesale prices shot up to 5.77 per
cent in June on increasing prices of vegetables and fuel items.
Earlier, a government data last week had revealed that the retail inflation
jumped to a 5-month high of 5 per cent in the month of June on rising fuel prices.
Surging inflation may push India's central bank to hike
key rates in its next policy meet in August.
The BSE Sensex tanked 218 points, or 0.60 per cent, to settle at 36,324, with 10 stocks
advancing, 20 declining and one unchanged.
The NSE Nifty finished Monday's session 82 points, or 0.74 per cent, down at 10,937, with 15
stocks in the green and 35 in the red.
Dr
Reddy's Laboratories, Tata Steel, Lupin, Sun Pharma, Tata Motors and ICICI Bank stood as the top losers in the Nifty index.
