Market selloff: 1,767 stocks turn red, 274 defy trend on BSE
More than 1,700 BSE-listed stocks, mostly from the mid-cap and small-cap space, witnessed heavy selloff on Friday, as equity markets crashed amid rising fears of the coronavirus outbreak turning into a pandemic.
As many as 323 shares on the Bombay Stock Exchange from Group A, B, T and Group Z, dropped to their 52-week low levels. While, a total of 205 companies on BSE saw their share prices touching their lowest permissible level for the day.
However, as many as 274 stocks defied the broader market trend and were trading in the positive territory, while 57 stocks breached the upper circuit limit. As many as 24 stocks touched their one-year highs, even as the broader market sentiment remained sluggish amid tremendous selling pressure.
Out of the 2,124 companies being traded on BSE, 274 were in the positive territory. 83 stocks remain unchanged at 1100 hours. Domestic equity benchmark Sensex plummeted over 1,100 points on Friday amid a massive selloff in global equities as rising coronavirus cases outside China stoked fears of a pandemic that could dent world growth.
The 30-share index sank 1,194.12 points to 38,551.54, while the NSE Nifty cracked 363.50 points to 11,269.80. Market capitalisation (m-cap) of BSE-listed companies also saw a massive decline as the carnage in the equity market wiped out investor wealth worth Rs 4,65,915.58 crore. Total m-cap stood at Rs 1,47,74,108.50 crore in morning session.
