Indian equities have witnessed high volatility with shares declining significantly in the last one year amid the recent turmoil in global markets. The benchmark Nifty 50 index has declined more than 10 per cent to 16,887 as on October 3, 2022 from its one year high of 18,604 hit on October 19, 2021. However, some stocks have plummeted much more than the benchmark index.
Business Today has compiled a list of large cap companies listed on the Nifty 50 index which have posted steepest fall in their shares from their one year highs. Data available with Ace Equity database show that as many as 14 stocks in the Nifty 50 index have declined more than 25 per cent from their one year highs. The biggest loser in this list is IT firm Wipro.
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The stock price has plunged 46.7 per cent to Rs 394.5 from 52 week high of Rs 739.9. Wipro is followed by another IT stock Tech Mahindra which has declined 45.3 per cent from highs of Rs 1838 to Rs 1,005.5. While mining major Hindalco Industries’ share has lost 40.1 per cent from high of Rs 636 to Rs 381, stock price of Bharat Petroleum Corporation has slipped 33.4 per cent to Rs 308.8 from Rs 470.
At the fifth spot is Oil & Natural Gas Corporation, whose price has declined 32.1 per cent to Rs 132.4 from 52 week high of Rs 194.9.
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HCL Technologies is at sixth position in the list with a fall of 31.6 per cent, followed by pharma manufacturer Divi’s Laboratories which clocked a fall of 31.3 per cent from one-year peak price of Rs 5425.1. Next is Tata Steel stock, which is down 31.1 per cent followed by HDFC Life Insurance company’s stock which slipped 30.1 per cent.
The last four stocks that witnessed a fall in a range of 25 per cent to 30 per cent are Infosys down 28.7 per cent, Apollo Hospitals down 26.5 per cent, Tata Consultancy Services declining 26.2 per cent and Tata Motors, whose stock price has fallen 25.9 per cent.
Market veteran Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “In the last eight out of ten years, Sensex has given positive returns in October. Also, markets have a record of troughing out in October. This may happen this October too. The ‘risk-off, risk-on’ texture of the market is in response to fast changing economic and market signals. For the near-term, the market sentiments have turned positive with declining trend in dollar and US bond yields. If this trend continues, FIIs will again turn big buyers in India and they will not get stocks cheap. Financials and autos are again set to lead the uptrend since their fundamentals and prospects are strong. Capital goods are likely to join the rally and telecom is on a strong wicket.”
