Bajaj Finserv Ltd., Hindalco Touched Their 52-Week Low As Stock Market Crashed, Here Is Why?

Share Market witnessed a terrible start of the week today as it witnessed a correction of more than 2% as aggressive interest rate hikes by US Fed and high inflation worried investors. The major factor that hit the market hard was US inflation that surged to a 40-year high in the month of May, reaching to 8.6% beating all estimates. India's CPI inflation also beat all estimates as it also hit above 7% in May.

BSE Sensex shed 1406 points or 2.59% till noon trade at 52,896 while NSE Nifty shed 407 points or 2.52% at 15,794 (around 12: 16 pm today). Two shares that lost maximum till 12:17 pm today were Baja Finserv Ltd. and Hindalco Industries Ltd.

1. Hindalco Industries Ltd

The stock opened at 365.10 and till noon trade on NSE and touched the high of 377.80. The Current Market Price of Hindalco is Rs 365.30 with a loss of 5.33%. The 52-week high of Hindalco is 636 and 52-week low is 359.80. With today's decline of more than 5%, the stock is now just 1.64% away from its 52-week low.

2. Bajaj Finserv Ltd

The stock has lost more than 5% in today's trade till noon. The current market price of Bajaj is recorded at Rs 11,534 apiece with a dip of 5.84% (till 12:24 pm today). The market witnessed a bloodbath on Monday. The 52-week high of Bajaj is Rs 19,325 apiece and 52-week low is Rs 11,500 apiece, respectively. With today's decline, the stock is now just 0.23% away from its 52-week low.

3. IndusInd Bank Ltd

The current market price of the stock is Rs 863.50 apiece with a decline of 5.40%. The 52-week high of the stock is Rs 1242 apiece and 52-week low is Rs 811.50 apiece, respectively. With today's fall, the stock is now just 6.53% away from its 52-week low.