As Sensex flirts with mount 26k, 447 scrips touch 52-week highs

Written by Press Trust of India | Mumbai | Updated: Jul 4 2014, 14:13pm hrs
Nearly 450 stocks hit their one-year highs on the BSE on Thursday as the benchmark Sensex came in touching distance of 26,000 points.

A total of 447 stocks touched their 52-week highs on the BSE, including Lupin, Ranbaxy Lab, Strides Arcolab, Sun Pharma, Tata Motors, Tech Mahindra and TVS Motor.

The S&P BSE Sensex, however, closed at 25,823.75, down 17.46 points from Wednesdays close, after hitting a life-time high of 25,999.08.

It was a tumultuous day that saw the BSE remain closed for the first three trading hours. The markets will be in a profit-booking and consolidation mode until the highly anticipated Union Budget on July 10. Until then, investors can expect the markets to mostly stay range-bound unless fresh news from the Iraq crisis causes volatile oil prices in the next week, said Raghu Kumar, Cofounder, RKSV.

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The index had gained over 778 points in the previous four days on rising hopes of a growth-oriented Budget next week. Among the 30-Sensex constituents, 19 stocks ended with losses, while 11 settled in green.

From the 12 BSE sectoral indices, six ended the day in red, while the rest six made gains.