Thank God it’s Friday! 33 stocks hit fresh all-time highs; mid & small caps outperform Nifty
AU Small Finance Bank, Bhakti Gems, Birla Corporation, Dalmia Bharat, Eris Lifesciences, and Poona Dal Oil, among others clocked fresh all-time highs.
The market failed to extend the rally on Friday as investors preferred profit booking after the Sensex added 677 points in the previous four consecutive sessions, and also looked for more corporate earnings.
Benchmarks started off on a strong note, with the Nifty surpassing 9,900 level for the first time following positive leads from Asia and Infosys earnings, but could not hold for long.
The market was rangebound with negative bias for a major part of the session. The 30-share BSE Sensex managed to hold the 32,000 level, though it ended down 16.63 points at 32,020.75. The 50-share NSE Nifty fell 5.35 points to 9,886.35 after hitting an intraday high of 9,913.30 on weak breadth, but the BSE Midcap outperformed, up 0.22 percent.
"Participants are feeling bit relieved after the IT majors' result amid expectation of a bad quarter, but it's just the beginning of earnings season," Jayant Manglik, President, Retail Distribution, Religare Securities said.
However, even in this consolidation day, there were over 30 stocks that shone on such a day. AU Small Finance Bank, Bhakti Gems, Birla Corporation, Dalmia Bharat, Eris Lifesciences, Poona Dal Oil, HUDCO, IGL and Siyaram Silk, among others clocked fresh all-time high marks.
Additionally, among the broader markets, midcaps and smallcaps too had a field day as the indices outperformed the Nifty. The S&P BSE Midcap gained 0.22 percent, with Biocon, Central Bank, Indian Bank, Hindustan Petroleum and Aditya Birla Fashion, among others leading the chart. The Nifty Mid50 index, on the other hand, gained almost half a percent, outperforming the Nifty as well. Biocon, Jubilant Foodworks, Tata Communications, Reliance Communications, and Ajanta Pharma, among others gained the most on both indices.