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80% of stocks trading at three-month lows

Deepak Korgaonkar in Mumbai | March 17, 2004 09:02 IST

The bull run in the stockmarket seems to be on a reverse course. Nearly 80 per cent of the actively traded stocks on the Bombay Stock Exchange fell to three-month lows in the first 10 trading days of this month.

Another 20 per cent are trading at six-month lows. Of the 1,764 stocks actively traded, the prices of 1,411 fell to three-month lows between March 8 and March 16, 2004. Of these, 530 stocks are currently trading at six-month lows on the BSE.

The prices of as many as 651 stocks declined to new three-month lows today, while those of 1,030 fell to three-month lows in the last four trading days.

The A-group stocks whose prices are trading at six-month lows include Arvind Mills at Rs 43.70, BASF at Rs 123.05, Century Enka at Rs 110.35, IBP at Rs 619, e-Serve International at Rs 632.15 and Tata Elxsi at Rs 80.35.

Seventy-one stocks from the A group are trading at three-month lows. In the B1 group, 483 stocks are quoting at three-month lows, in the B group 716, in the concentrated surveillance T group 20, and in the Z group 121.

The major BSE Sensex stocks that have fallen to three-month lows are Bajaj Auto, Dr Reddy's Laboratories, Hindustan Lever, Infosys Technologies, Satyam Computer Services and Zee Telefilms.

The Dr Reddy's Laboratories scrip is trading at a three-month low of Rs 997.50, Aurobindo Pharmaceutical Rs 335.40, Pfizer Rs 442.90 and AstraZeneca Pharma Rs 799.

Among the front-line fast moving consumer goods stocks currently quoting at three-month lows on the BSE are Colgate-Palmolive at Rs 130.20, Dabur at Rs 71.75, Gillette India at Rs 584, Hindustan Lever at Rs 150.95, Nirma at Rs 323 and Procter & Gamble at Rs 408.50.


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