Max Financial, Mphasis, Emami, HDFC AMC, Pfizer, Network18, Godrej Agrovet, Laurus Labs and Motilal Oswal Financial were among 34 stocks from the S&P BSE 500 index hit their respective 52-week lows.
Analysts expect stocks to remain under pressure in the near-term as the government's new tax regime push, with no tax saving deductions, could hurt demand for insurance products
Technically, prior to this announcement, the price structure of SBI Life Insurance Company and Max Financial Services were highlighting a bullish sentiment and were on the verge of the next up move
Volumes spurt were significantly higher during strong positive closes than during negative sessions.
This transaction is expected to be completed in the next fortnight, the company said in a statement on Monday