Indian stock market has broken more than 7 percent since May 4
Bluechip Stock Price, Bluechip Share Price: The market fell in the fifth session on Thursday. Sensex and Nifty both fell by over 2 per cent, tracking weak global trends and heavy selling by foreign institutional investors. The Indian stock market has crashed over 7 per cent since May 4 – the day the RBI announced a hike in the repo rate, citing inflation concerns. Barring the May 5 session, the indices witnessed negative daily closings since then.
While the Nifty has fallen nearly 1224 points and the Sensex has fallen 3,969 points – both by over 7 per cent since the RBI’s decision.
The current fall saw many stocks trading at prices that investors could hardly have imagined after last year’s marathon rally, which took the index to 18,604.45 on October 19. Bluechip stocks have also seen a graceful correction, while many are nearing their 52-week low. Smart investors are the ones who use these falls as a good opportunity to choose fundamentally strong stocks.
Why Bluechip Stocks?
Bluechip is the most preferred place for stock investors to park their funds. These stocks are ideal for investors who want safe and consistent returns as they come with minimal risk.
| Stock near 52-week low | ||
| shares | 52-week low | Market Price (NSE, May 12 closing) |
| HDFC AMC | Rs 1,810.05 | Rs 1,840.05 |
| HDFC bank | Rs 1,292 | Rs 1,303.05 |
| Bharat Petroleum | Rs 331.10 | Rs 339.95 |
| Divi’s Laboratories | Rupee. 3,788.95 | Rs 4,233.40 |
| Amara Raja Batteries | Rs 493.50 | Rs 500.10 |
| Wipro | Rs 462.15 | Rs 473.80 |
| ICICI Securities | Rs 462.20 | Rs 473.30 |
| Godrej Industries | Rs 434.95 | Rupee. 438.90 |
| Nestle India | Rs 16,126.75 | Rs 16,220 |
| Hindustan Unilever | Rs 1,901.55 | Rs 2,138.80 |
| Dabur India | Rs 494.20 | Rs 498.35 |
| job | Rs 3,500 | Rs 3,539.50 |
| LIC Housing Finance | Rs 321 | Rs 331.90 |
| Aurobindo Pharma | Rupee. 560.25 | Rupee. 570.75 |
| PNB Housing | Rs 316 | Rs 320.90 |
| sail | Rs 79.80 | Rs 80.70 |
| crompton greaves | Rupee. 337 | Rs 345.85 |
| Aarti Industries | Rupee. 725.10 | Rupee. 740.70 |
Rachit Chawla, Founder and CEO, Finway FSC said that bluechip stocks are a good source of investment. These stocks are the best of the best. Speaking of the strategy, investors should look into the current volatility. There is apparently heavy volatility in the global market, which can be considered as the primary reason for the fall in bluechip stocks, he added.
“Earnings upgrade in the current market has slowed down and some sectors may even see a downgraded earnings cycle. Besides, interest rates are rising and clearly there is pressure in good stocks,” he said.
In such a volatile market, investors should conduct extensive research to identify the best performing companies, he added. “Bluechip stocks have always had a tendency to deliver more stable and predictable returns. Companies with an ever-increasing trajectory and track record of dividends that can face occasional downturns can be considered reliable for long periods of time. Also, with rising interest rates and geopolitical tensions, it makes more sense to invest in bluechip stocks.”