The list of stocks hitting fresh 52-week lows is lengthening with 50 stocks joining the losers’ list just before 2 pm today in the NSE.

The selling spree was not limited to any particular sector or price range, though a significant number of losers were small priced scrips. But many of the counters managed to pull back from their lows.

Prominent among the stocks to figure in the list were ABG Shipyard, Adani Enterprises, BEML, Dewan Housing Finance, Everonn Education, Infosys, Monnet Ispat, RCom, Jindal Drilling and Torrent Power Ltd.

ABG Shipyard Ltd slumped to a yearly low of Rs 304 today but it recovered strongly to Rs 367.55. Adani Enterprises fell to Rs 178.80, its 52-week low, but pulled back to Rs 178.80 with a trading volume of about 24 lakh shares.

BEML, which has been in the thick of the Tatra controversy, fell to a new low of Rs 333.25. The previous close was Rs 337.70 indicating that the stock has been continuing to exhibit a weak sentiment.

Dewan Housing skidded by Rs 7.20 to Rs 146.35 after falling to a 52-week low of Rs 145.60. This counter too witnessed a hefty volume of 2.70 lakh shares. The IT bellwether Infosys sought a fresh 52-week low of Rs 2,141 today before staging a mild recovery to Rs 2,148.55. This counter also witnessed a high volume of 4.42 lakh shares.

Monnet Ispat also witnessed a free fall. The stock fell from the previous close of Rs 385.95 to Rs 308.80, its 52-week low, before recovering to Rs 328.95, a loss of Rs 57. The stock registered a huge volume of 17.19 lakh shares in trading.

There were some media stocks too among the losers — Deccan Chronicle hit a low of Rs 23.90, Infomedia18 Ltd touched Rs 5.15 and HT Media Ltd fell to Rs 86.90. RCom, which has been facing the heat after the withdrawal of its Flag Telecom IPO in Singapore, dipped to a new low of Rs 55.80.

(This article was published on July 26, 2012)
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