Today, the National Stock Exchange (NSE) benchmark index Nifty opened on a negative note and continued trading downward after the opening. It opened at the level of 11,570.25 from its previous closing level of 11,589.10. It starts plunging in early hours and trading near the level of 11,470.80 (10, Sep 1:47 PM IST).
During the session, many stocks hit the fresh 52-week low including APL Apollo Tubes, Century Plyboards (India), Syndicate Bank, Bharat Road Network, Unitech, General Insurance Corporation of India, GIC Housing Finance, Gujrat Gas, Videocon Industries, Vardhman Textiles, Wonderla Holidays, and among others.
Although there was some stock that hit 52-Week highs such as Axis Bank, Cipla, Dr Reddy’s Laboratories, JSW Steel, Usha Martin, and GlaxoSmithKline Pharmaceuticals among others.
It is the weak global cues, rupee’s persistent fall and crude prices which weighed on market sentiment.