5 Stocks That Witnessed A Correction Of More Than 5%, Right Time To Invest?

Sensex fell more than 1000 points today and Nifty hit a new 52-week low at 15,350 around 3:23 pm as market continues to remain volatile following US Fed's share rate hike announcement. A total of nearly 2,632 stocks gave negative return out of 3,375 stocks on BSE Today's share market mayhem triggered a correction of more than 5% in some leading stocks namely Tata Steel, Hindalco, Coal India, ONGC, and Tata Motors lost nearly 5%.

Name of the company	Decline
Tata Steel	6.03%
Coal India Ltd	5.34%
ONGC	5.18%
Tata Motors Ltd	5.11%
Hindalco Industries Ltd	5.99%

1. Tata Steel

The stock witnessed a correction of 6.03% in today's trade. The current market price (CMP) of the stock is Rs 901.70 apiece on NSE. The 52-week low of the stock is Rs 898.20 apiece. The stock is now just 0.33% away from its 52-week low. The 52-week high of the stock is Rs 1534.50 apiece.

2. Hindalco Industries Ltd

The CMP of the stock is Rs 336.10 on the NSE with a decline of 5.99% in today's trade. The 52-week low of the stock is Rs 332.30. The stock is now just 1.19% away from its 52-week low. The 52-week high of the stock is Rs 636 apiece.

3. Coal India Ltd

The current market price of the stock is Rs 179.90 with a correction of 5.34%. The 52-week low of the stock is Rs 132.75 apiece. Now it is 26% away from its 52-week low. The 52-week high of the stock is Rs 209 apiece.

4. ONGC

The stock witnessed a correction of 5.18% today and the CMP of the stock is Rs 143.55 apiece. The 52-week low of the stock is Rs 108 apiece and 52-week high is Rs 194 apiece, respectively. With today's decline, the stock is 24% away from its 52-week low.

5. Tata Motors Ltd

The stock fell over 5.11% today with its CMP now is Rs 392 apiece. The 52-week low and 52-week high is Rs 268 and 536, respectively. With today's dip, the stock is 31% away from its 52-weel low.

6. Right time to invest?

According to experts, it is the right time for long term investors and they can invest in some blue chip stocks and continue to remain invested for a long period. The ongoing volatility must not worry long term investors. If you are planning to buy stocks for a short duration, you should look for stable stocks. According to leading brokerage firm Sharekhan, investors can buy the stock of ONGC for a potential gain of 29% in its 2 days back report. Meanwhile, Motilal Oswal gave buy rating to the stock of Coal India in its 3 weeks back report. Leading brokerage firm, Motilal Oswal gave buy rating to Hindalco Industries stock in its 3 weeks back report.

Disclaimer

Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies and the author are not liable for any losses caused as a result of decisions based on the article.