As stock markets swung between gains and losses in a lacklustre trade on Friday, 21 stocks defied the volatility to hit fresh 52-week high on Friday. Sensex settled 38.43 points up to close at 27,865.96, while NSE Nifty ended 19.90 points up at 8,611.15. Tata Communications, Whirlpool of India, TVS Motor Company, Asian Hotels (West) Limited, Balkrishna Industries, BLS International Services, CEAT, Dishman Pharmaceuticals and Chemicals, Ducon Infratechnologies, Entertainment Network (India), GTL, Hikal, Hindustan Zinc, JK Cement, Oil Country Tubular and Suprajit Engineering were among the 21 stocks that hit 52-week high on NSE on Friday.
Jayant Manglik, president, retail distribution, Religare Securities Ltd said, “Nifty recovered marginally on Friday and settled above 8600 amid mixed domestic and global cues. After Thursday’s knee-jerk reaction, participants were in cautious mood but hopes of rate cut by the RBI in upcoming policy meet, eased some pressure and triggered recovery in rate sensitive pack. Also, report that Employees’ Provident Fund Organisation (EPFO) has decided to invest 10% of its annual incremental deposits or an estimated Rs 13,000 crore in the current fiscal in equity exchange traded funds (ETFs), aided to the recovery. Interestingly, noticeable rebound was witnessed in Midcap and Smallcap space despite flat benchmark index, showing participants’ risk appetite and buying interest at lower levels.”
However, Coffee Day Enterprises, ANG Industries, Ashok Leyland, GlaxoSmithKline Pharmaceuticals, Hathway Cable & Datacom, Hexaware Technologies, GOL Offshore, Future Enterprises, Mandhana Industries, Man Industries, Noida Toll Bridge Company, Ruchi Infrastructure, Parenteral Drugs (India), Pudumjee Paper Products, Sab Events & Governance Now Media, Tree House Education & Accessories, Swelect Energy Systems, Welspun Corp were among 56 stocks that hit fresh 52-week-low on NSE on Friday.
