Several largecap stocks in the Nifty 100 touched fresh 52-week highs in late-afternoon trade on Monday, signalling selective strength in financials and capital goods. IT stocks fell, with Wipro slipping to new 52-week lows amid sustained selling pressure. Info Edge also hit a 52-week low.
Meanwhile, benchmark indices Sensex and Nifty were trading modestly higher but pared early gains. The indices saw profit booking after last week’s relief rally linked to the US Supreme Court striking down President Donald Trump’s tariffs. Fresh uncertainty resurfaced after Trump announced a new 15 percent tariff, keeping global cues fragile.
Among the gainers, SBI Life Insurance stock touched a fresh 52-week high of Rs 2,132 during the session and was trading at Rs 2,110 in late trade, extending its recent uptrend.
Bank of Baroda also hit a new 52-week high of Rs 315.25 and was last trading at Rs 313.20, supported by continued interest in PSU banking stocks.
Shares of State Bank of India climbed to a fresh 52-week high of Rs 1,231.10 and were trading slightly lower at Rs 1,227.50, remaining among the strongest performers in the banking space.
In the capital goods segment, Larsen & Toubro touched a 52-week high of Rs 4,420 and was trading at Rs 4,414, reflecting sustained buying interest in infrastructure-linked stocks.
Power major NTPC also scaled a fresh 52-week high of Rs 376.50 and was trading at Rs 375.35 in late-afternoon trade.
On the downside, IT stocks continued to bear the brunt of selling pressure. Wipro slipped to a fresh 52-week low of Rs 211.74 during the session and was trading lower at Rs 205.87, extending losses amid concerns over artificial intelligence-led disruption to the IT services business model.
Internet services firm Info Edge (India) also touched a new 52-week low of Rs 1,084.90 and was trading at Rs 1,067.20, as weakness persisted in select new-age and technology-linked stocks.
Sectorally, IT remained under pressure, with the BSE IT index down 1.43 percent, while broader strength was visible in services, FMCG, healthcare, power and PSU indices. India VIX eased 1.39 percent to 14.16, indicating relatively subdued volatility despite divergent stock-specific moves. Midcap stocks traded lower, while smallcaps saw mild gains, highlighting selective risk appetite.
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