The Huge downfall that the stocks and market, in general, have had recently has had many consequences.
Many rapid and rush decisions were made all around. At the moment, almost everyone incurred huge losses when buying and selling stocks. Even the high-flying crypto went downhill.
According to Glassnode, most Bitcoin (BTC) traders are underwater and continue to sell at a loss. With inflation and the stock market crash, the masses have plunged into an unrealized loss.
The BSE SENSEX (also known as the S&P Bombay Stock Exchange Sensitive Index or simply SENSEX) is a free-float market-weighted stock market index of 30 well-established and financially sound companies listed on the Bombay Stock Exchange.
As of September 2017, the Sensex index had the following stocks as its constituents: Wipro, Coal India, HDFC, ITC, M&M, Tata Motors, Power Grid, Maruti, Kotak Bank, HDFC Bank, TCS, ONGC, Bharti Airtel, NTPC, Asian Paint, Sun Pharma, Dr. Reddy's, HUL, Infosys, Bajaj Auto, Cipla, Axis Bank, Lupin, Adani Ports, SBI, Hero MotoCorp, ICICI Bank, Reliance Industries, L&T, and Tata Steel.
Both NSE Nifty fifty and BSE Sensex recently spiked up a bit but couldn't hold onto it long enough.
This Wednesday morning, 13th June, all the gains went in vain as both NSE and BSE rates turned red.
It went negative by around 0.5 per cent each. Housing Development Finance Corporation(HDFC), Reliance, and Tata Consultancy Services(TCS) were the primary factors that led down.
A one-liner to summarize the situation is that Nifty went down to 15974.75, while BSE Sensex hit a day's low of 53547. Looking back, this is where the 52-week highs and lows stand.
NSE Gains in vain
The National Stock Exchange saw almost the same amount of stocks go down as those that went down.
Around 20 climbed rates, while 18 hit 52 weeks low. Akshar Spintex, Adani Total Gas, Dangee Dums, Gujarat Fluorochemicals, Global Education, GRP, Hardwyn India, Hubtown, Insecticides (India), Jagsonpal Pharmaceuticals, Patanjali Foods, PC Jeweler, Rolex Rings, Nippon India ETF Nifty CPSE Bond Plus SDL Sep 2024 50-50 and a few others recorded a 52 week high.
On the other hand, Arshiya, DRC Systems, Gland, HCL Tech, Innovative Tyre, JBF Industries, KCK Ind, MIC Electronics, setco auto, Viceroy Hotels, Suumaya Ind, etc. have hit a new 52-week low.
BSE Gains in vain
BSE Sensex saw 27 stocks fall and 71 rise. Adeshwar Medite, Asia Pack, Balaji Telefilm, Citi Port Fin, Globe Commercial, Goel Food, Jupiter Infomed, My Money Sec, S H Kelkar, Silver Oak Comm, and Wagend Infra were among the 27 that hit bottom.
On the brighter side, ABC Gas, Adani Total Gas, B Right Realest, Blue Pearl Texas, Deep Diamond, Delhivery, DSJ Keep Learn, Gala Global Prd, High Street Fil, IND-AGIV Commerce, Maruti Interior, Moneyboxx Finance, PC Jeweller, SNS Textiles, TCPL Packaging, VCU Data Mgmt, Yarn Syndicate are a handful of the ones who rose to a 52 week high.
What is the current situation and future Scope?
HCL Tech CEO & MD C Vijayakumar, on being asked if they can overshoot your 12% to 14% growth guidance considering their bullish nature:
"We stay with the guidance. It is only one quarter down the road. It is 12% to 14%, and that is what we have reiterated; we continue to give you the messages based on what we see in the market, and I said it is better than what I saw in the previous quarter. So, I think I would want to stay with that.”
HCL Tech CFO Prateek Aggarwal, on being asked about the probability of achieving the lower end of the guidance going from 17 to 19:
“Yes, I do not want to guess what we are going to say next quarter. I will leave that for next quarter, but it is fair to say that we have been living through the entire previous four or five quarters in an environment where a lot of the corrections have been done for many people along the way. It is not a normal year. It is not as if everybody must give an increment at the same time.”
HDFC Ltd is planning to launch an issue of bonds on a private placement basis on Friday to raise up to Rs 5,000 crore, the company said on Wednesday.
The secured redeemable non-convertible debentures (NCDs) will have an interest rate of 7.77 per cent, payable annually, and have a tenor of 4 years, 11 months, and 10 days, HDFC said in a regulatory filing.
"The object of the issue is to augment the long-term resources of the Corporation. The proceeds of the present issue would be utilized for financing/refinancing the housing finance business requirements of the Corporation," HDFC said.
Check out more such updates in our news section.