ETMarket After Hours: 210 stocks hit 52-week lows, less pain in broader market

NEW DELHI: Brewing tension between the US and North Korea scared the hell out of investors across the globe and dragged markets on Friday. Dalal Street was no different, as equity benchmarks Sensex and Nifty plunged to record lows amid heavy selling on the auto, energy and banking counters.

The big global selloff that engulfed the entire market on Friday pushed the Nifty50 to a four-week low in intraday trade. The 50-share index closed above the 9,700 level at 9,711, with 15 constituents ending in the green and 35 in the red.

The 30-share Sensex pack of BSE hit a five-week low during the day, shedding 318 points or 1 per cent to 31,214 with drug major Dr Reddy's (up 3 per cent) being the top gainer and State Bank of India (down 5 per cent) the worst laggard.

Here's a wrap-up of everything that shook up Dalal Street On Friday:

SBI cracks on NPA woes
Shares of India's largest lender declined over 5 per cent in afternoon trade after the bank reported a big jump in bad assets in June quarter earnings. However, the lender's Q1 profit jumped three-fold (after minority interest) to Rs 3,031.88 crore compared with an Rs 2,817 crore estimate that analysts had projected in an ET Now poll. The stock closed at Rs 280 apiece, down 5.58 per cent.



Fear, fear everywhere
India VIX surged 11 per cent, making it the biggest spike in six months. Volatility is known to be a measure of change. Higher volatility indicates that prices can change at a faster pace (either going up or down) compared with that in the immediate past. The index settled 10 per cent higher at 15.1950.



Stellar start for Cochin Shipyard
The stock made a quiet debut on Friday, as the scrip got listed at Rs 435 on BSE, a 0.69 per cent premium to the issue price of Rs 432. On NSE, the stock got listed at Rs 440, up 1.85 per cent. However, within minutes of listing, the stock gained momentum and jumped nearly 21 per cent to Rs 522 apiece on BSE. The scrip ended the session at Rs 522 apiece, up 20 per cent.




@52-week low
A record 210 stocks plunged to their 52-week lows amid the global selloff. Prominent among them included Aarvee Denims & Exports (down 20 per cent), Central Bank of India (down 11 per cent) and Cigniti Technologies (down 13 per cent). On the contrary, 7 stocks sailed through the storm to hit fresh 52-week highs. They included Avadh Sugar & Energy (up 5 per cent) and Endurance Technologies (up 7 per cent).



Sebi stick hits too hard!
Shares of J Kumar Infratech and Prakash Industries hit lower circuits of 20 per cent on Friday after trading in both the stocks resumed after a closure for three sessions. The Securities Appellate Tribunal (SAT) had on Thursday stayed Sebi’s trade restriction order on the two stocks.



Broader market pips Sensex
On a day when the headline indices were on a free fall, midcap and smallcap indices ended flat, however with a negative bias. The S&P BSE Smallcap index closed 0.04 per cent lower at 15,065 with Strides Shasun (down 7 per cent), Manappuram Finance (down 8 per cent) and JP Associates (down nearly 9 per cent) proving the main drag. The S&P BSE Midcap index fell 0.20 per cent to end the day at 14,726.