More than 200 stocks hit 52-week high, including 70 at lifetime highs, while 16 hit yearly low

In a falling market, there was a sigh of relief as more than 200 stocks hit their 52-week high, with 70 scrips touching lifetime highs on April 18, despite a more-than-2-percent fall in equity markets, led by technology, and banking & financial services stocks.

At close, the BSE Sensex declined 1,172 points or 2.01 percent to 57,167, and the Nifty50 fell 302 points or 1.73 percent to 17,174.

The broader markets were also caught in a bear trap with the Nifty Midcap 100 and Smallcap 100 indices falling more than 1 percent each. Volatility increased by 9 percent to 19.34 after the war in Ukraine intensified, keeping oil prices elevated and raised inflation concerns, and the US dollar index, which measures the value of US dollar against the world’s six leading currencies, traded above the 100 mark for the third straight session.

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“We expect FY23 to witness continued volatility in equity markets, especially in the first half of the year, with interest rates rising globally and high inflation expected to persist,” said Naveen Kulkarni, Chief Investment Officer at Axis Securities.

A total of 227 stocks hit their 52-week high on April 18, of which 70 stocks climbed to record high levels, including 11 stocks from the ‘A’ group and 25 stocks from the ‘B’ group, on the BSE. However, 16 stocks hit their 52-week low.

Bharat Dynamics, CreditAccess Grameen, Deepak Fertilisers, Gujarat Ambuja Exports, GHCL, Hindustan Aeronautics, JK Paper, Mazagon Dock Shipbuilders, and Rhi Magnesita India are among ‘A’ group stocks that hit a new high today.

In the ‘B’ group, Adani Wilmar, Data Patterns India, Dev Information Technology, Dynacons Systems Solutions, Ester Industries, Hardwyn India, Magadh Sugar Energy, Monarch Networth Capital, Ritco Logistics, Sarda Energy Minerals, TCPL Packaging, and Wendt are among stocks that touched record highs.

The number of stocks hitting their upper circuit were higher than those that hit their lower circuit. In total, 335 stocks hit the upper circuit against 213 stocks that hit the lower circuit.

Pearl Polymers, BSL, Hardwyn India, Cineline India, CL Educate, Mawana Sugars, Delta Management, Cinevista, Axiscades Engineering, Lloyds Metals and Energy, NDTV, Donear Industries, Ugar Sugar, A2Z Infra, Visa Steel, Ritco Logistics, Hilton Metal Forging, Shyam Telecom, BAG Films, and Hubtown are among the stocks that hit their upper circuit.

The advance-decline ratio was largely in favour of the bears. More than 2,100 stocks declined against 1,388 stocks advancing on the BSE.

On the BSE Sensex, 20 stocks, including Infosys, Tech Mahindra, HDFC, HDFC Bank, TCS, Wipro, Kotak Mahindra Bank and Bajaj Finserv traded lower, whereas 10 stocks, including NTPC, Tata Steel, Nestle India, Titan Company, Maruti Suzuki and HUL bucked the trend.

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