Thank God it’s Friday! Over 145 stocks hit fresh 52-week high mark
Apex Frozen Foods, Bajaj Finserv, Blue Star, Bombay Dyeing, DCM Shriram, Eicher Motors, Gujarat Alkalies, Hindalco, among others, were a part of that list.
The market closed flat on Friday amid volatility and weak global cues, as investors looked for fresh triggers. The Sensex started off trade with 100 points gains but gradually erased gains as the day progressed.
Banks, FMCG and metals stocks helped the market close with positive bias but the selling in pharma, PSU banks and select auto stocks capped upside.
The Nifty Midcap index ended lower after hitting a fresh record high, down 0.2 percent on weak market breadth. About three shares declined for every two shares rising on the NSE.
For the week, the Sensex lost 0.6 percent and the Nifty fell 0.4 percent but the Nifty Midcap Index gained 0.4 percent.
In times of such volatility fund managers, who are sitting on mammoth cash levels, are treading with caution.
“We are carefully considering and evaluating which stocks must be bought,” Nilesh Shah, MD, Kotak Mahindra Asset Management Company (AMC) told CNBC-TV18 in an interview. We are sticking to our core and definitely not going by what SMS-based recommendations are floating in the market, he added.
Among these times over 145 stocks helped investors gain their wealth as they touched fresh 52-week high marks. Apex Frozen Foods, Bajaj Finserv, Blue Star, Bombay Dyeing, DCM Shriram, Eicher Motors, Gujarat Alkalies, Hindalco, HT Media, JSW Steel, Nestle India, PSP Projects, Shankara Buildpro and TeamLease Services figured in the list.
There were over 50 stocks that cheered investors as well as they touched all-time high figures as well. Birla Corporation, Eicher Motors, Indiabulls Housing Finance, Page Industries, SpiceJet and Shankara BuildPro were among the list.