Stock market update: Over 40 stocks hit 52-week highs in a volatile market
Rupee's weakness against the US dollar too dented the sentiment.
By ETMarkets.com | Updated:
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NEW DELHI: Over 40 stocks, including Axis Bank, Britannia Industries, Cipla, Nestle India and Sun Pharma, hit 52-week highs on NSE in Thursday's volatile market.
Bata India, Birla Cable, Dabur India, Divi's Laboratories, Electrosteel Steels, Godrej Consumer Products, GlaxoSmithKline Consumer Healthcare, Havells India, Indiabulls Integrated Services, NIIT Technologies and VIP Industries also featured among stocks that touched 52-week highs on NSE.
Equity market was lacklustre amid mixed Asian cues. The risk appetite of investors received a blow as US-China trade war intensified after new tariffs kicked in.
The United States and China escalated their acrimonious trade war on Thursday, implementing punitive 25 percent tariffs on $16 billion worth of each other’s goods, even as mid-level officials from both sides resumed talks in Washington, Reuters reported.
Moreover, rupee's weakness against the US dollar too dented the sentiment.
The rupee breached 70-mark again amid strong demand for the US currency after the US Fed released minutes of its policy meet yesterday. At the time of writing this report, the rupee was trading at 70.07, down by 25 paise.
The NSE Nifty index was trading 4 points up at 11,575, while the BSE Sensex was up 44 points at 38,329 around 12:30 pm.
Among the 50 stocks in the Nifty index, 24 stocks were in the green and 26 were in the red.
Larsen & Toubro, Dr. Reddy's Laboratories and Lupin were among the top gainers in the Nifty index.
Bata India, Birla Cable, Dabur India, Divi's Laboratories, Electrosteel Steels, Godrej Consumer Products, GlaxoSmithKline Consumer Healthcare, Havells India, Indiabulls Integrated Services, NIIT Technologies and VIP Industries also featured among stocks that touched 52-week highs on NSE.
Equity market was lacklustre amid mixed Asian cues. The risk appetite of investors received a blow as US-China trade war intensified after new tariffs kicked in.
The United States and China escalated their acrimonious trade war on Thursday, implementing punitive 25 percent tariffs on $16 billion worth of each other’s goods, even as mid-level officials from both sides resumed talks in Washington, Reuters reported.
Moreover, rupee's weakness against the US dollar too dented the sentiment.
The rupee breached 70-mark again amid strong demand for the US currency after the US Fed released minutes of its policy meet yesterday. At the time of writing this report, the rupee was trading at 70.07, down by 25 paise.
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The NSE Nifty index was trading 4 points up at 11,575, while the BSE Sensex was up 44 points at 38,329 around 12:30 pm.
Among the 50 stocks in the Nifty index, 24 stocks were in the green and 26 were in the red.
Larsen & Toubro, Dr. Reddy's Laboratories and Lupin were among the top gainers in the Nifty index.
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