Coronavirus impact: RIL, HDFC Bank among 1,180 stocks to hit 52-week low

After nosediving over 3,204.30 points during the day, the BSE's benchmark Sensex settled 2,919.26 points | Photo: Kamlesh Pednekar

As the market rout continued, as many as 1,180 stocks, including Reliance Industries, Tata Consultancy Services and HDFC Bank, touched their 52-week low levels on Thursday.

Despite this, shares of 13 companies, including Ruchi Soya Industries and Apollo Finvest (India) Ltd, managed to make gains and hit 52-week high levels on the BSE.

After nosediving over 3,204.30 points during the day, the BSE's benchmark Sensex settled 2,919.26 points or 8.18 per cent lower at 32,778.14 as the coronavirus pandemic wreaked havoc on global markets.

"Recession fears increased after WHO declared coronavirus a pandemic which forced investors to sell-off risky assets. Fresh travel bans across nations is contributing to the fears that economic impact will be much larger than earlier estimates," said Vinod Nair, Head of Research at Geojit Financial Services.

Apart from RIL, TCS and HDFC Bank, shares of Hero MotoCorp, GAIL, ACC, ABB, BEML, Glenmark Pharmaceuticals and Gillette, also featured among those that touched their 52-week low levels on BSE.

Besides, Axis Bank, Bajaj Auto, Bank of Baroda, BHEL, HDFC, HCL Technologies and Aurobindo Pharma also hit their 52-week low levels.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel