12 of 50 Nifty stocks hit 52-week high
It may have been a lacklusture Monday, but not for stocks. According to data, one out of every five stock in Nifty hit a 52-week high.
By ET Online | Updated:
NEW DELHI: According to data available with exchanges, one out of every five stock in the NSE barometer Nifty hit a 52-week high.
A total of 62 stocks from NSE and 135 scrips from BSE hit their 52-week high for the day.
The names included stocks from banking and financial, capital goods, cement and oil & gas and pharmaceutical sectors.
To name a few, Larsen & Toubro, Wipro, Axis Bank, Lupin, IDFC and IndusInd Bank hit their one-year highs on Monday.
The list does not stop here. UltraTech Cement, BPCL, ACC, Grasim Industries, Cipla and Ambuja Cements also joined the party to hit their 52-week high during the day.
While cement and capital goods stocks climbed on hopes that a push to infrastructure sector will bolster demand for the sectors, select private banking names jumped after the finance minister abolished the sub-limit on FIIs and FDI and announced a composite limit for foreign investors' participation at 74 per cent.
BPCL hit its one-year high after oil marketing companies announced a hike in fuel prices.
Four Sensex stocks hit their 52-week high for the day.
Chetan Ahya of Morgan Stanley Research in a note expected a 24 per cent CAGR in Sensex earnings in the coming two years compared with 17 per cent estimated by the bottom-up consensus.
"We continue to be bullish on Indian equities with our key overweight positions being private sector banks, industrials, discretionary consumption and technology," the brokerage said in a note.
Dhananjaya Sinha of Emkay Global Financial Services in a note said the brokerage continues to focus on select investment themes, including road sector and larger players in the construction space.
"Specialised Infra and micro finance companies are seen getting some impetus. In the banking sector the private banks will continue to be the winning theme; PSU banks will lag given the modest recapitalization support from the budget. Lower revenue spending will continue to impinge upon consumption themes, specially rural. We continue to like urban consumption themes," he said.
A total of 62 stocks from NSE and 135 scrips from BSE hit their 52-week high for the day.
The names included stocks from banking and financial, capital goods, cement and oil & gas and pharmaceutical sectors.
To name a few, Larsen & Toubro, Wipro, Axis Bank, Lupin, IDFC and IndusInd Bank hit their one-year highs on Monday.
The list does not stop here. UltraTech Cement, BPCL, ACC, Grasim Industries, Cipla and Ambuja Cements also joined the party to hit their 52-week high during the day.
While cement and capital goods stocks climbed on hopes that a push to infrastructure sector will bolster demand for the sectors, select private banking names jumped after the finance minister abolished the sub-limit on FIIs and FDI and announced a composite limit for foreign investors' participation at 74 per cent.
ADVERTISEMENT
BPCL hit its one-year high after oil marketing companies announced a hike in fuel prices.
Four Sensex stocks hit their 52-week high for the day.
Chetan Ahya of Morgan Stanley Research in a note expected a 24 per cent CAGR in Sensex earnings in the coming two years compared with 17 per cent estimated by the bottom-up consensus.
"We continue to be bullish on Indian equities with our key overweight positions being private sector banks, industrials, discretionary consumption and technology," the brokerage said in a note.
ADVERTISEMENT
Dhananjaya Sinha of Emkay Global Financial Services in a note said the brokerage continues to focus on select investment themes, including road sector and larger players in the construction space.
"Specialised Infra and micro finance companies are seen getting some impetus. In the banking sector the private banks will continue to be the winning theme; PSU banks will lag given the modest recapitalization support from the budget. Lower revenue spending will continue to impinge upon consumption themes, specially rural. We continue to like urban consumption themes," he said.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
