A look at D-Street's biggest wealth destroyers of 2022 so far
SUMMARY
Indian equity benchmarks gave up their entire year-to-date gains within the first 45 days of 2022. Concerns about rising interest rates amid worsening consumer inflation, wild swings in oil prices, FII outflows and geopolitical tensions have kept investors on edge. However, an infrastructure focus in the Union Budget and a dovish RBI have aided investor sentiment. The Sensex and Nifty have come within 1.5 percent of their all-time highs - touched in October 2021 - so far this year and made a U-turn. Here's a look at some of the top wealth-destroying stocks of 2022 so far across banking, NBFC, insurance and fintech spaces (as of February 17 closing prices).
By CNBCTV18.com Feb 18, 2022 1:45:03 PM IST (Published)
Gold financers Manappuram Finance and Muthoot Muthoot Finance have had a weak start to the New Year. Manappuram is down 25.6 percent and Muthoot Finance 12.4 percent on a year-to-date basis.
In the financial services pack, Edelweiss Financial Services is down 15 percent, HDFC Asset Management Company 9.9 percent and Piramal Enterprises 15.1 percent.
Newly-listed FINO Payments Bank's shares have dropped 13.1 percent during this period. The stock began its journey in the secondary market in November 2021.
