Bajaj Auto, Hero MotoCorp to NTPC: These five Nifty 50 stocks dip up to 34% from Sept 27 peak | Stock Market News
Source: Live Mint
On September 27, Indian equity benchmark indices, the BSE Sensex and NSE Nifty50, climbed to new record highs. The Nifty50 reached a record high of 26,277.35 but closed the trading session in red with a decline of 37.13 points, or 0.14 per cent, settling at 26,178.95. Meanwhile, BSE Sensex index reached an all-time high of 85,978.25 during intraday trading, however, closed the session 264 points, or 0.31 per cent down, at 85,571.85.
The Nifty 50 index has dropped 12 per cent from its all-time high of 26,277, reached on September 27. Since that peak, around two-thirds of the stocks in the index have fallen by more than 10 per cent.
Four Nifty constituents have declined by over 30 per cent from their levels on September 27. Additionally, 12 stocks have fallen between 20 per cent and 30 per cent, while 15 have experienced a correction of 10 per cent to 20 per cent.
Five worst performing stocks since September 27 record high –
IndusInd Bank
The Nifty’s worst-performing stock in 2024 is also the biggest laggard since the index reached its record high. The stock has dropped 34% since September 27. However, it is defying the trend today due to the possibility of an increased weightage in the MSCI indices. Analysts estimate this could lead to inflows of up to $300 million.
Bajaj Auto
In 2024, the two- and three-wheeler industry leader, one of the top performers, has experienced a significant decline from its peak. Notably, the stock reached its all-time high of ₹12,774 on September 27, coinciding with the Nifty’s record high on the same day. Since then, the stock has dropped by 32 per cent.
Hero Motocorp
Hero Motocorp stock has dropped 31 per cent since September 27, making it the third-worst performer on the index from its peak.
NTPC
PSU power generation company’s share price has fallen over 31.71 per cent since the peak. The stock has declined over 17 per cent in the last one month.
Asian Paints
The increased competition in the paint industry has had the greatest effect on its market leader. Asian Paints experienced its worst annual returns in 2024, with shares falling by 31 per cent since September 27.
