Share prices of Bajaj Auto, ITC, Britannia Industries, TVS motor Company, Apollo Tyres, Indian Hotels and Delta Corporation were among the 63 stocks that were trading at their 52-week high levels Wednesday on NSE led by strong buying momentum.
Among Nifty50 stocks, Bajaj Auto share price rallied nearly 3% to hit a 52-week high of ₹4,650.00, ITC gained 2.06% to touch ₹442.45, while Britannia Industries jumped 4% to hit ₹4,705.45 on the NSE.
Other stocks that hit a 52-week high on Wednesday include Andhra Cements, Anupam Rasayan India, Aptech Ltd, CEAT, CG Power and Industrial Solutions, Chalet Hotels, Elgi Equipments, Gujarat State Petronet, Glenmark Life Sciences, KPIT Technologies, Man Industries (India), NBCC (India), NMDC Steel, Star Cement, Venus Pipes & Tubes, among others.
The equity benchmark indices traded marginally lower on Wednesday dragged by selling metal, banking and IT stocks. The Sensex traded 94.11 points, or 0.15%, lower at 61,679.67, while the Nifty fell 27.60 points, or 0.15%, to 18,257.80, as of 11 pm. Overall 16 stocks were trading in the green, while 34 stocks declined on the Nifty50 index.
Indian markets traded on a weak note tracking negative global cues. Investors are likely to keep a close eye on US debt ceiling talks while also assessing the corporate results, which are in the final phase, analysts said.
“Going ahead, we expect index to prolong the ongoing consolidation in the broader range of 18,500-18,000. Key point o highlight is that, over past four sessions index has retraced 90% of preceding three sessions up move. The lack of faster pace of retracement on either side signifies prolongation of consolidation amid stock specific action. In the process, bouts of volatility owing to monthly expiry week coupled with global volatility cannot be ruled out," ICICI Direct said.
Additionally, stocks of Ashiana Housing, AVG Logistics, Balmer Lawrie & Company, Dynamic Cables, Elecon Engineering Company, Elgi Rubber Company, Engineers India, Hariom Pipe Industries, Himadri Specialty Chemicals, Indo Tech Transformers, Global Health, PG Electroplast, Precision Wires India, Royal Orchid Hotels, Schneider Electric Infrastructure, Syngene International, Sundaram Finance and Wonderla Holidays also hit their highest levels in the last one year.
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