Amid the surging US dollar, disruption in energy supply chain and signs of escalation of the conflict between Russia and Ukraine, global stock markets are currently jittery.
Bourses around the world are declining relentlessly, for instance, in the US, Dow Jones has declined 19.48 per cent in 2022, while the tech-heavy Nasdaq index tanked 30.95 per cent this year. In Europe, the French index CAC40 fell 19.34 per cent, the German DAX plunged 23.02 per cent and the British benchmark FTSE100 slipped 4.92 per cent.
In sync, Indian equities are also feeling the heat with BSE Sensex slipping 1.92 per cent this year (as on September 26). Business Today has compiled a list of stocks listed in the BSE 500 index with the steepest decline in 2022. Instead of creating money for the investors, these stocks became wealth destroyers.
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Data available with ACE Equity, CMIE Prowess and BSE showed, the IT sector stock, Brightcom Group, ranked as the biggest loser this year with a decline of 67.7 per cent. The stock traded at Rs 34.65 on September 26, 2022, against a high of Rs 107.43 on December 31, 2021. Another IT stock stood next on the list. Tanla Platforms slumped 62 per cent from Rs 1,888.45 on December 31 last year to Rs 717 in 2022. Zensar Technologies, which tanked 58.3 per cent from Rs 521.9 at year-end of 2021 to Rs 217.45 at yesterday’s close, came at the third spot.
E-commerce stock Zomato, fourth in the list, cracked 57.9 per cent from Rs 137.45 to Rs 57.85. Metropolis Healthcare (fifth) dived 56.2 per cent to trade at Rs 1,505.95 from Rs 3,439.55 last year.
Metropolis was followed by Indiabulls Real Estate from the finance sector, which has tanked 53.9 per cent. Real-estate developer Dilip Buildcon has slipped 51.1 per cent. Online retailer Paytm (One97 Communications) fell 50.8 per cent this year. Textile stock Welspun India came at the ninth spot and has declined 49.9 per cent this year. PB Fintech, which fell 49.6 per cent this year, stood at the tenth spot.
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In BSE 500 index there are as many as 28 stocks which have declined more than 40 per cent. There has also been a visible divergence in the performance of sectoral indices this year.
BSE Information Technology index fell 28.2 per cent, followed by BSE Teck which declined 24.3 per cent, while BSE Healthcare, BSE Realty and BSE Metal indices slipped by 13.7 per cent, 13.3 per cent and 7.3 per cent, respectively. In contrast, BSE Power surged 37.8 per cent, BSE Auto rose 16.3 per cent, while BSE Fast Moving Consumer Goods inclined 16.2 per cent. Also, BSE Bankex, BSE Capital Goods and BSE Oil & Gas indices gained 9.5 per cent, 8 per cent and 5.5 per cent, respectively, this year till September 26.