Stocks at record high: Bharti Airtel, HCL Tech, Bajaj Finserv…over 300 stocks hit 52-week high in stock market today | Stock Market News
Source: Live Mint
Stocks at record high: While the Indian stock market benchmarks- the Sensex and the Nifty 50- closed in the red, as many as 327 stocks, including Bharti Airtel, HCL Tech, Bajaj Finserv and JSW Steel, hit their fresh 52-week highs in intraday trade on the BSE.
Zomato, Bajaj Auto, Apollo Hospitals, Persistent Systems, United Spirits, Shriram Finance, Pidilite Industries, Naukri, LTIMindtree, Havells India, Divi’s Labs, Cholamandalam Investment and Finance Company and Britannia Industries were also among the stocks that rose to their fresh one-year high levels.
The Sensex and the Nifty 50 ended with mild losses on Friday due to profit booking following a steep rise of almost 2 per cent in the previous session. The Sensex closed 72 points, or 0.09 per cent, down at 82,890.94, while the Nifty 50 ended 32 points, or 0.13 per cent, lower at 25,356.50.
However, the midcap and the smallcap segments stayed in the green, and the BSE Midcap and Smallcap indices hit their fresh all-time highs during the session.
Eventually, the BSE Midcap index rose 0.48 per cent, and the Smallcap index climbed 0.95 per cent. The overall market capitalisation of the firms listed on the BSE rose to nearly ₹468.7 lakh crore from ₹467.4 lakh crore in the previous session, making investors richer by over ₹1 lakh crore in a single session.
As many as 32 stocks ended with losses in the Nifty 50 index, among which, shares of SBI Life, Adani Ports and HDFC Life ended as the top losers, falling 1-2 per cent.
The key event for the global markets is next week’s US Fed meeting. The US central bank is expected to cut rates by 25 bps. However, all eyes will be on Fed Chair Jerome Powell’s commentary on economic growth and inflation dynamics. Experts say the size and extent of the Fed meeting will be among the most crucial factors that will determine the course of the market going ahead.
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