Maruti Suzuki, Bajaj Auto and United Spirits were some of the stocks that hit fresh 52-week high on the NSE while Shriram Transport Finance, LG Balakrishnan, GM Breweries and Sundaram Clayton hit new 1 year high on the BSE.
The Indian market in the morning trade on Friday was trading in the positive territory with the Nifty adding 0.04 percent, trading at 10348.70 while the Sensex gained 68 points at 33215. From the midcap index, Jain Irrigation Systems, JSW Energy, L&T Finance Holdings and Sun TV Network were some of the top gainers.
CNX FMCG was outperforming the broader indices which was up 0.8 percent with ITC trading up1.15 percent ahead of its Q2 numbers. Godrej Industries and Emami were the other top sector gainers.
From the Nifty50, the stocks which gained the most were Bajaj Finance which added 2.13 percent while Cipla and Adani Ports gained over 1 percent each. Maruti Suzuki ahead of its Q2 numbers was the other top Nifty gainer, up 1.42 percent. Kotak Mahindra Bank from the banking space was up 1.22 percent. The most active stock was Yes Bank which crashed close to 6 percent. United Spirits was the other active stock which zoomed over 14 percent in the morning trade. SBI, PNB and ICICI Bank were the other active stocks in the Nifty.
On the BSE, United Spirits, United Breweries, Mphasis, Jain Irrigation and V-Guard Industries were some of the top gainers.
Maruti Suzuki, Bajaj Auto, United Spirits, Saregama India, BPCL and Century Textiles and Industries were some of the stocks that hit fresh 52-week high on the NSE. On the BSE, Shriram Transport Finance, LG Balakrishnan, GM Breweries, Sundaram Clayton and Avanti Feeds were some of the stocks which hit new 52-week high.
The market breadth was strong with 1004 stocks advancing while 585 declined on the NSE. On the other hand, 1348 stocks advanced and 798 stocks declined on the BSE.
Global research firm, Morgan Stanley has reiterated its overweight rating on United Spirits with a target of Rs 2,900 per share while UBS has reiterated a sell call on the stock with a target price of Rs 2,000 per share.Technical Analyst Ashwani Gujral of ashwanigujral.com has a buy on BPCL with a stop loss of 530, target of Rs 560 and a buy on Maruti Suzuki with a stop loss of Rs 8000, target of Rs 8250. Mitessh Thakkar of mitesshthakkar.com has a buy on Bajaj Auto with a stop loss of Rs 3240 for target of Rs 3360.