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The Indian stock market is currently close to a record high. Meanwhile, there are some large-cap stocks in the market that have fallen by up to 25 percent. According to available data, there are ten such stocks in the BSE 100 index.
Which is trading 25 percent below its 52-week high. This data has come at a time when small-cap and mid-cap stocks have proved to be the main factor behind the rise in the stock market. Market experts say that investors' attraction towards investing in this sector is continuously increasing.
Amid the current market turmoil, the BSE Sensex is down one percent from its record high of 82,129.49. The stock market had made this level on August 1. In the last session of weekly trading on Friday, the Sensex rose 33.02 points to close at 81,086.21 points. While the Nifty closed at 24,823.15 points, up 11.65 points.
According to data obtained from ACE Equity, ten stocks that form part of the BSE 100 index fell up to 25 per cent on August 22, 2024. The declining large cap stocks included banking, construction, finance, hospitality and trading sectors. All of these have been affected. The value of these large cap stocks has declined due to macroeconomic challenges.
In the construction sector, Shri Cement's stock fell by 19 per cent. The price of this stock was Rs 30,710 on February 1, 2024. Which was reduced to Rs 24,996 on August 22, 2024. In the hospitality sector, the stock of Indian Railway Catering and Tourism Corporation (IRCTC) fell 18 per cent from its 52-week high. On May 22, 2024, this stock was trading at Rs 1,148. Which was at the level of Rs 939 on August 22. Its latest market capitalization is Rs 75,132 crore. There is still selling pressure on the stocks of the banking sector.
In the finance sector, the share price of Bajaj Finance fell by 18 per cent. On October 6, 2023, the share price of this company was Rs 8,190. Which was reduced to Rs 6,742. The current market capitalization of this company is Rs 4.18 lakh crore. Experts said that since this sector is currently facing various economic challenges, the attraction of investors towards these stocks has reduced.
