Indian markets struggled in trade on Thursday with the Sensex falling more than 200 points while the Nifty sank over 50 points. Weak Asian markets also weighed as the Nikkei slumped more than 800 points on worries the U.S. Fed would trim its stimulus programme in the coming months.
The rupee also remained weak, trading below 58 versus the dollar, as Finance Minister P. Chidambaram did not announce any concrete steps to arrest its fall.
At least 100 stocks had touched their 52-week low on the National Stock Exchange (NSE) during trade, data showed. Here’s a look at some stocks that hit a one-year low during Thursday’s trade:
Kingfisher Airlines (52-week low at 4.35 rupees) - The grounded carrier has struggled on the bourses as well, with the stock losing 27.5 percent this month. The airline posted a loss of $380 million recently. Chairman Vijay Mallya had told Kingfisher staff he does not have the money to pay their pending salaries.
Tata Steel (52-week low at 269.10 rupees) - The company’s shares have struggled in 2013, with the stock down more than 35 percent. Late in May, it posted better-than-expected quarterly operating profit for the Jan-March period. “We maintain our positive stance on Tata Steel owing to its buoyant business outlook,” Angel Broking said in a note on May 24.