Stock market today: M&M, HCL Tech among 200 stocks that rise to their one-year highs on BSE while Sensex crashes 1% | Stock Market News
Source: Live Mint
Stock market today: Even as the Indian stock market benchmark Sensex crashed over 700 points, or nearly 1%, almost 200 stocks hit their fresh one-year highs in intraday trade on the BSE on Friday, January 3.
HCL Tech, Mahindra and Mahindra (M&M), Eicher Motors, Info Edge (Naukri), PB Fintech (PolicyBazaar) and United Spirits were among the stocks that hit their 52-week highs on the BSE on Friday.
Indian stock market today
The Sensex closed 721 points, or 0.90 per cent, down at 79,223.11. The Nifty 50 declined 184 points, or 0.76 per cent, to close at 24,004.75.
Mid and small-cap indices outperformed the benchmarks. The BSE Midcap index slipped 0.33 per cent, while the BSE Smallcap index (down 0.02 per cent) closed almost flat.
The domestic market benchmarks suffered losses on profit booking in select heavyweights as the underlying sentiment remains cautious due to signs of economic growth losing steam, anticipations of weak earnings, stretched valuations, foreign capital outflows, and uncertainty over the US trade policies after Donald Trump assumes office on January 20.
According to Ajit Mishra, SVP- Research at Religare Broking, Friday’s pullback appears to be a normal pause following the recent recovery and could persist until the Nifty decisively crosses the next resistance at 24,250.
“We continue to recommend focusing on stock-specific opportunities in line with sectoral trends. In the near term, sectors like FMCG, auto, and energy are expected to outperform, so positions should be aligned accordingly,” said Mishra.
Read all market-related news here
Disclaimer: The views and recommendations above are those of individual analysts, experts, and brokerage firms, not Mint. We advise investors to consult certified experts before making any investment decisions.
