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Why these 4 ASX shares are ending the week deep in the red

It has been yet another disappointing day for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the benchmark index is down 0.8% to 5,830 points.

Four shares in particular have acted as a drag on the market today. Here’s why they are finishing the week deep in the red:

The Mineral Resources Limited (ASX: MIN) share price has tumbled 4% to $9.33 after the iron ore price collapsed amid concerns of oversupply. Unfortunately iron ore futures are pointing to even more declines tonight. As a result I think the industry is best avoided at this point in time.

The Murray River Organics Ltd (ASX: MRG) share price has fallen an incredible 41% to 60.5 cents after the organic food producer downgraded its full-year guidance just over two months after last reiterating it. A delay with operational efficiencies has led to higher-than-expected full-year operating expenses.

The Santos Ltd (ASX: STO) share price is down 3.5% to $3.51. Today’s decline is likely to be attributable to a sharp drop in oil prices overnight. According to Reuters, oil prices fell to five-month lows over concerns that the OPEC production cut hasn’t had an impact on global oversupply. In light of this I would avoid Santos.

The TPG Telecom Ltd (ASX: TPM) share price has dropped 4% to $5.79 after the ACCC’s decision not to declare mobile roaming. The ACCC review was related to calls for open access to the extensive Telstra Corporation Ltd (ASX: TLS) mobile network. This would have been a big bonus for companies like TPG Telecom.

If your portfolio took a hit today because of these declines, I wouldn't worry. I think these quality shares could be just what your portfolio needs to take it back to the next level again.

Top 3 ASX Blue Chips To Buy In 2017

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But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool's in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool's Top 3 Blue Chip Stocks for 2017."

Each one pays a fully franked dividend. Each one has not only grown its profits, but has also grown its dividend. One increased it by a whopping 33%, while another trades on a grossed up (fully franked) dividend yield of almost 7%.

If you're expecting to see the likes of Commonwealth Bank, Telstra and Wesfarmers shares on this list, you'll be sorely disappointed. Not only are their dividends growing at a snail's pace, their profits are under pressure too due to the increasing competitive environment.

The contrast to these "new breed" blue chips couldn't be greater... especially the very real prospect of significant share price gains, something that's looking less likely from the usual blue chip suspects.

The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand - and how quickly the share prices of these companies moves - we may be forced to remove this report.

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The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Telstra Limited. Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of TPG Telecom Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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