Thank God it’s Friday! Over 180 stocks hit fresh 52-week high
Adani Transmission, Bata India, DCM Shriram, Avenue Supermarts, Gillette India, Edelweiss, among others, were included in this list.
The Nifty ended at fresh record closing high on Friday as investors cheered macro data, earnings and telecom companies’ deals. The rally was driven by banks, telecom and metals stocks, and Reliance Industries. But the broader markets underperformed benchmarks, ending flat.
The 50-share NSE Nifty rose 71.10 points or 0.70 percent to 10,167.50, after hitting a fresh record high of 10,191.90 intraday.
The 30-share BSE Sensex rallied 250.47 points or 0.78 percent to 32,432.69 despite weak market breadth. The index is still 254 points away from its record high of 32,686.48 hit on August 2. About 1,428 shares declined against 1,297 advancing shares on the BSE.
"The corporate results globally are going to be better, the minutes of the last Fed meeting were also dovish. With domestic investors dipping their toes in the equity markets at an accelerated pace, the process of making new highs in the markets is likely to continue beyond the immediate highs," V K Sharma, Head - PCG & Capital Market Strategy, HDFC securities said.
With the festive mood in the air, markets are likely to do well in the October month, which has historically been the weakest, according to him,
Jayant Manglik, President, Retail Distribution, Religare Securities said he expects the Nifty to touch 10300 in near future. For the week, the Nifty and Sensex rallied 1.9 percent each, continuing upmove for the second consecutive week.
Amid, these over 180 stocks hit fresh 52-week high mark. Adani Transmission, Bata India, DCM Shriram, Avenue Supermarts, Gillette India, Edelweiss, Hindalco, Jindal Steel, Kotak Mahindra Bank, Sanghi Industries, South Indian Bank, Tata Steel and Shivam Auto, among others, were included in this list.
Meanwhile, 68 stocks clocked fresh all-time highs. Britannia, Indraprastha Gas,Whirlpool, Muthoot Finance, Oberoi Realty and TCI Express, among others, were a part of this list.