Bear attack: Nearly 30% BSE stocks trading below 2008 lows

Written By Unknown on Minggu, 07 April 2013 | 23.55

Riken Mehta
Moneycontrol.com

This is turning out to be a nasty bear phase; in fact worse than the meltdown during the global financial crisis of 2008.

According to data analysed by moneycontrol.com, 697 out of 2400 actively traded stocks on the BSE are trading below the lows seen in late 2008. Back then, most of the stocks managed to recoup a good chunk of the losses as the market rallied dramatically. Two events changed sentiment for the better; one was the UPA coalition returning to power without the support of the Left parties, and the other was the stimulus package that helped sustained the growth momentum in the economy.

Today, the situation is equally bad if not worse. The economy has stalled, corporate earnings are weak, and political turmoil is holding the government back from taking any major reform measures.

But the key difference between 2008 and now is that many of the problems are company-specific, than having to do with the broader economy. In many of the midcaps and small caps which have fallen 50-80 percent, investors are more worried about accounting policies and corporate governance standards than the earnings growth rate.

For full list, Click on the attachment


Index Below 2008 Lows Total Scrips
Sensex 1 30
Nifty 2 50
BSE 100 9 100
BSE 200 17 200
BSE 500 63 500
MIDCAP 20 249
SMLCAP 75 514
 

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