The foreign portfolio investor (FPI) outflows during a few sessions in October signalling a larger selloff. As global investors shift focus to underperforming Chinese stocks, domestic equities are facing a relentless correction.
The Nifty100 index is down 3.61% in October where it has fallen 5.20% from its all-time high peak of 27,335.65. As of today, 42 out of the 100 index constituents are down over 5% in the last 5 days. However, most of the Nifty100 Index constituents stocks are in red but 9 out of them are still trading in positive territory since the start of the October month.
Here is a look at 10 stocks that corrected the most in October 2024:
Avenue Supermarts saw a peak of ₹5,484.85 in September this year. The stock declined by 10.91% in October. It has closed in the red since September 25. The stock logged its biggest fall of the year on Friday, October 4, plunging plunging by 4.15%.
Bharat Petroleum Corp had made a record high of ₹376 last month. The stock has corrected 10.15% in October 2024. The stock price is 11.2% down from its all-time high erasing the gains of last September month.
Indian Oil Corp is trading at ₹160.63 on Tuesday correcting 9.78% in October 2024. The stock price has been in consolidation since the start of the year 2024, in the same period stock made a record high of ₹196.82.
Dabur India shares had fallen by 9.25% in October 2024 after making a record high of ₹672 on September 17, declining by 15.58% from those levels. The stock slipped sharply below the mark of ₹600 on Thursday.
Berger Paints India is trading at ₹572 on Tuesday with intraday gains of 0.87%. The stock has dipped 8.14% since the start of October 2024. The stock retreats from its 52-week high of
₹629.50 with a loss of 9% from the same level.
Titan Company saw a fall of 7.7% in October trading at ₹3,526.96. On a performance basis, the stock has given 7.14% returns on a yearly basis. The stock price struggled to cross ₹3,900 mark, plunging from the same level twice in 2024.
Asian Paints has dropped 7.65% in October 2024, trading at ₹3,080.55. This was affected by an oil price rise on the prospect of a widening Middle East conflict that could disrupt oil flow from the region. The stock has fallen most on a YTD basis nearly 10% and negative yearly returns on current levels.
Power Grid Corporation reached a peak of ₹366.10 in September 2024. However, the stock declined by 7.54% in October and has posted a six-day streak of closing in the red. Despite this recent dip, the stock remains in a strong position, having gained 67% over the past year.
Eicher Motors hit an all-time high of ₹5,105 in September 2024 but has since fallen 7.4% in October, trading at ₹4,717.35 as of Tuesday.
DLF reached a record high of ₹967.60 on April 1, 2024. The stock has corrected by 7.38% in October and is now 13.44% below its all-time high.
In the first week of October 2024, the Indian equity market witnessed sharp corrections driven by FPI outflows amid the Middle-Eastern war tension, signalling volatility ahead as global investors redirect their focus to China. Select stocks showed resilience despite broader market weakness.
Note: The above stock price data is recorded on Tuesday 08, October 2024 at 13:00.
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