Stock Market Rout Deepens: Adani Rights Crash 12% to New Low, AAVAS & Valiant Lab Join 100+ Names in Yesterday's Sell-Off

The Indian stock market's downward spiral gathered steam yesterday, with more than 100 companies plunging to fresh 52-week lows amid relentless FII outflows, expiry volatility, and renewed fears of delayed rate cuts. Adani Enterprises rights shares spearheaded the carnage, tumbling 12% to an all-time trough, while housing finance and specialty chemicals stocks amplified the pain in a session that erased ₹50,000 crore+ in market value.

As the Nifty breached key 26,000 support, small and mid-cap segments – already battered by November's 15% correction – faced their toughest test yet, highlighting cracks in the broader rally narrative.

Top 20 Biggest Losers Among Yesterday's 52-Week Low Breakers

Here are the 20 stocks that suffered the steepest percentage declines while hitting new 52-week lows on December 3:

1. Adani-RE – Down 11.95% to ₹362.40 (New low: ₹337)
2. Agarwal FT – Down 1.34% to ₹41.50 (New low: ₹39)
3. AAVAS – Down 3.29% to ₹1,465 (New low: ₹1,457)
4. Ahlada – Down 1.12% to ₹51 (New low: ₹50.40)
5. Aksh Optifibre – Down 2.90% to ₹6.36 (New low: ₹6.35)
6. Alcodis – Down 4.88% to ₹119 (New low: ₹119)
7. Ambikco – Down 0.51% to ₹1,241.20 (New low: ₹1,227.10)
8. Anup – Down 2.04% to ₹2,185 (New low: ₹2,165.20)
9. Astro – Down 5.08% to ₹6.16 (New low: ₹6.16)
10. Arog Ranite – Down 1.69% to ₹31.46 (New low: ₹30.10)
11. Urban Co – Down 3.10% to ₹131 (New low: ₹129.90)
12. Utl Solar – Down 1.96% to ₹198.50 (New low: ₹195.64)
13. Valiant Lab – Down 3.49% to ₹64.77 (New low: ₹63.86)
14. Vikram Solar – Down 2.36% to ₹250.75 (New low: ₹249.45)
15. Vipul Ltd – Down 3.78% to ₹7.90 (New low: ₹7.38)
16. Vishwaraj – Down 1.71% to ₹6.88 (New low: ₹6.88)
17. Vishwas – Down 6.67% to ₹42 (New low: ₹42)
18. Vmstmt – Down 4.66% to ₹55.41 (New low: ₹55.41)
19. Vraj – Down 1.37% to ₹132.25 (New low: ₹132)
20. Trom – Down 1.28% to ₹77.25 (New low: ₹76.20)

Other heavyweights scraping bottoms included Advent Hotel (₹194.85), Bhandari (₹4.24), BCL Industries (₹31.25), Chemplast Sanmar (₹283), and Deepak Nitrite (₹1,555), spanning realty, infra, and consumer sectors.

The NSE snapshot revealed widespread fragility in leveraged plays and high-valuation mid-caps, exacerbated by ₹3,000 crore FII net selling. With the RBI's policy meet looming, experts urge caution: these lows could mark capitulation buys for contrarians, but only after the dust settles.

Stay defensive – yesterday's tape warns that the bull run's easy days are over, and selective positioning is key in this high-wire act.