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.
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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?
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