The bull run in the stockmarket seems to be on a reverse course. Nearly 80 per cent of the actively traded stocks on the Bombay Stock Exchange fell to three-month lows in the first 10 trading days of this month.
Another 20 per cent are trading at six-month lows. Of the 1,764 stocks actively traded, the prices of 1,411 fell to three-month lows between March 8 and March 16, 2004. Of these, 530 stocks are currently trading at six-month lows on the BSE.
The prices of as many as 651 stocks declined to new three-month lows today, while those of 1,030 fell to three-month lows in the last four trading days.
The A-group stocks whose prices are trading at six-month lows include Arvind Mills at Rs 43.70, BASF at Rs 123.05, Century Enka at Rs 110.35, IBP at Rs 619, e-Serve International at Rs 632.15 and Tata Elxsi at Rs 80.35.
Seventy-one stocks from the A group are trading at three-month lows. In the B1 group, 483 stocks are quoting at three-month lows, in the B group 716, in the concentrated surveillance T group 20, and in the Z group 121.
The major BSE Sensex stocks that have fallen to three-month lows are Bajaj Auto, Dr Reddy's Laboratories, Hindustan Lever, Infosys Technologies, Satyam Computer Services and Zee Telefilms.
The Dr Reddy's Laboratories scrip is trading at a three-month low of Rs 997.50, Aurobindo Pharmaceutical Rs 335.40, Pfizer Rs 442.90 and AstraZeneca Pharma Rs 799.
Among the front-line fast moving consumer goods stocks currently quoting at three-month lows on the BSE are Colgate-Palmolive at Rs 130.20, Dabur at Rs 71.75, Gillette India at Rs 584, Hindustan Lever at Rs 150.95, Nirma at Rs 323 and Procter & Gamble at Rs 408.50.