Research Icon:- Worst July since 2002 for markets; these 239 BSE stocks fell 10-50%

The fall in the Nifty50 was led by losses in key marquee names which pulled the index below its crucial 200-days moving average (DMA). Over 40 percent of the stocks in the Nifty50 fell in double digits in July.

Indian market witnessed its worst July since 2002, as Nifty and Sensex fell 5.68 percent and 4.86 percent, their hardest fall in 17 years for the month. The Nifty50 had fallen 9.3 percent in July 2002, while Sensex dropped nearly 8 percent.Typically, market trades in the green in July but delayed monsoon, muted corporate results, overhang on economic growth and several other factors weighed heavy on investor sentiment.
“The month of July 2019 turned out to be one of the worst months for our market. It is mainly because of a number of events that dented investors' confidence such as increased in tax on super rich, poor to mix corporate earnings, coupled with government hard steps on some of the sectors and below-average monsoon. Global uncertainties like trade war etc. jeopardised the emerging economies,” Sanjeev Jain, VP Equity Research, Sunness Capital India,
The fall in the Nifty50 was led by losses in key marquee names that pulled the index below its crucial 200-days moving average (DMA). More than 40 percent of the Nifty stocks fell in double digits during the month.
Almost 22 Nifty stocks were down 10-20 percent that include names like Bajaj Finance, Indiabulls Housing Finance, Tata Steel, Eicher Motors, Tata Motors, Bajaj Finserv, ONGC, GAIL India, and Titan Company.

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