Amtek Auto Along With 44 Other Stocks Touch Their 52-Week Lows On NSE
Amtek Auto Along with 44 stocks hit 52-week lows on NSE in today’s trading session. The list of other stocks included Balaji Telefilms, BPCL, Byke Hospitality, Ducon Infratechnologies, HSIL, Kernex Microsystems, Matrimony.Com, New India Assurance Company, Shreyas Shipping & Logistics, South Indian Bank, SREI Infrastructure Finance and HMT.
On the other hand, over 40 stocks, including Axis Bank, Britannia Industries, Cipla, Nestle India and Sun Pharma, hit 52-week highs on NSE.
The United States and China escalated their acrimonious trade war on Thursday, implementing punitive 25 percent tariffs on $16 billion worth of each other’s goods, even as mid-level officials from both sides resumed talks in Washington, Reuters reported.
Furthermore, rupee’s weakness against the US dollar too dented the sentiment. Increased demand for the US currency along with its rise against other currencies on expectations of rising US interest rates, put pressure on the rupee.
Around the same time, the NSE Nifty index was trading 4 points up at 11,575, while the BSE Sensex was up 44 points at 38,329.
Out of the 50 stocks in the Nifty index, it was noted that 24 stocks were in the green and 26 were in the red.
The top losers of the Nifty index were Tata Motors, HPCL, BPCL and Indian Oil Corporation.