From ICICI Bank to INOX, these 9 stocks are down as much as 15% since being the top Diwali picks 6 weeks ago
- Here are performances of 9 most common stocks that were recommended by broking firms in Diwali for Muhurat trading.
- Click here for simple, fun and yet insightful explainers on the hottest news developments every week.
AdvertisementSix weeks ago, ahead of Diwali, these nine stocks were among the most-recommended stocks across several broking firms. However, those hopes have come undone with the stocks melting along with the rest of the stock market.
Benchmark indices, Sensex and Nifty, have seen a sell-off in four out of the last six weeks since Diwali. The seventh one has started out with severe gashes across the market.
The Omicron variant of the COVID-19 virus has been the biggest source of fear for traders and investors. Not surprisingly, multiplex chain operator INOX, has been the biggest loser among these stocks given the fear of lockdowns and a resultant dent to the business.
Except Infosys, all other top stocks disappointed investors' expectations and were trading lower since then.
|Companies||% return since Muhurat trading|
|Action Construction Equipment||-10%|
It is worth noting that at the same time, entire markets were influenced by negative cues from across the globe. Benchmark index Sensex slipped 8% since Diwali, on November 4.
SEE ALSO: Why is the stock market falling so sharply today?
Used car marketplace Cars24 has raised as much as Dream11 this year to set up operation overseas
Popular on BI
- Elon Musk and more than 1,000 people sign an open letter calling for a pause on training AI systems more powerful than GPT-4
- A second giant 'hole' has appeared on the sun, and it could send 1.8 million mph solar winds towards Earth
- We used ChatGPT to plan international trips - here’s a tour of the results!
- The Alpha Creators: Bank and IT stocks outperform Nifty50 in the last 11 years
- Microfinance lending shows strong growth in 2022, NBFC MFIs dominate the market
- Here's why you should also celebrate Zero Waste Day on March 30 every year!
- Innovation and collaboration take center stage at Future of Work Summit 2023
- Prices of specialised medicines for diabetes, BP, arthritis, cancer have risen the most in the last 12 months, reveals LocalCircles survey