Over 260 stocks hit 52-week lows on NSE

NEW DELHI: As many as 261 stocks, including Jet Airways (India), Jubilant Industries, Karnataka Bank, Bank of Maharashtra and MTNL hit 52-week lows on NSE on Wednesday.

Ajanta Pharma, Allahabad Bank, Bharti Infratel, CEAT, Corporation Bank, Dena Bank, Federal Bank, HDIL, Punjab & Sind Bank, Syndicate Bank, Union Bank of India, United Bank of India, Unitech and Tata Motors also featured among stocks that hit 52-week lows.

Markets extended the losses for the second session on Wednesday hit by political uncertainty in the state of Karnataka.

Risk appetite of investors got a hit after BJP missed the majority mark to form government in Karnataka. Moreover, surging crude oil prices, falling rupee, weak global cues and mixed earnings from bluechip firms such as ITC and Hindalco dampened market mood.

The Nifty50 finished day's trade 61 points, or 0.56 per cent, down at 10,741, with 17 stocks advancing and 33 declining.

The BSE Sensex fell 156 points or 0.44 per cent to settle at 35,388. Overall, 12 stocks remained in the green, while 19 in the red in the index.