These stocks saw a significant sell-off from intraday high after the interim budget 2024

A few stocks witnessed a dramatic sell-off on February 1st, 2024, following the presentation of the interim budget by Finance Minister Nirmala Sitharaman. While the interim budget, being presented in an election year, was widely expected to be a “vote on account” with limited changes, the specific details of the announcement appear to have triggered a wave of selling, raising questions about unmet expectations and pre-election jitters.

Following are the 6 stocks that plunged from their day-high

Craftsman Automation Ltd experienced a decline in its stock price during intraday trading after the 2024 budget announcement. Opening at Rs 4,377, the stock reached a day high of Rs 4,581 but faced a sell-off, closing at Rs 4,337.5, reflecting a negative per cent change of 0.89%. The stock witnessed a notable fall of 5.32% from the day’s high. Despite having a 52-week high of Rs 5,513.65, the current market price (CMP) is lower, standing at Rs 4337.5, facing to the 52-week low of Rs 2,735.

Dixon Technologies (India) Ltd displayed a similar trend post-budget. Opening at Rs 6,161, it surged to a day high of Rs 6,348 before facing a sell-off, closing at Rs 6,123. The stock demonstrated a positive per cent change of 2.20% but fell by 3.54% from the day’s high. The CMP of Rs 6,123 is below the 52-week high of Rs 6,765, with the stock still significantly above the 52-week low of Rs 2,581.2.

FDC Ltd faced a slight intraday dip following the budget. Opening at Rs 417.6, the stock’s day high was Rs 428.2, closing at Rs 415 with a negative per cent change of 0.59%. The fall from the day high was 3.08%, and the CMP is notably lower than the 52-week high of Rs 456. The stock is above the 52-week low of Rs 245.25.

Hero Motocorp Ltd witnessed a sell-off after reaching a day high of Rs 4,717.85 post the budget. Opening at Rs 4,621.7, it closed at Rs 4,585, experiencing a negative per cent change of 0.79%. The stock fell by 2.82% from the day high, with the CMP below the 52-week high of Rs 4,717.85 but well above the 52-week low of Rs 2,246.

Hindustan Unilever Ltd faced a marginal decline post-budget. Opening at Rs 2,475.1, it closed at Rs 2,471.6 with a negative per cent change of 0.40%. The fall from the day high was 1.59%, and the CMP is below the 52-week high of Rs 2,769.65 but above the 52-week low of Rs 2,365.45.

Jubilant Pharmova Ltd exhibited a modest intraday decrease after budget announcements. Opening at Rs 574, the stock reached a day high of Rs 588.5, closing at Rs 570 with a negative per cent change of 0.25%. The fall from the day high was 3.14%, and the CMP is below the 52-week high of Rs 598.2 but above the 52-week low of Rs 268.9.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.