Domestic stock markets remained on a roll on Tuesday (May 16) with Sensex zooming 260.48 points to close at new peak of 30,582.60, while NSE Nifty ended at record 9,512.25, up 66.85 points on the back of early arrival of rains and persistent foreign inflows. Tuesday is also a day when BJP government witnessed a landslide victory in general elections three years ago. Sentiment also remained bullish following sustained foreign fund inflows and an improvement in liquidity with retail investors widening their bets.
On NSE, 103 stocks rallied and touched their 52-week high on Tuesday. Aarti Industries, Alicon Castalloy, Astral Poly Technik, Bajaj Holdings & Investment, Bajaj Finance, Balaji Telefilms, Caplin Point Laboratories, Crompton Greaves Consumer Electricals, DLF, Edelweiss Financial Services, Future Lifestyle Fashions, GE T&D India, Godrej Industries, Hexaware Technologies, Hindustan Unilever, Indiabulls Real Estate, The Indian Hotels Company, The India Cements, Indian Oil Corporation, JK Paper, KNR Constructions, The Ramco Cements, State Bank of India, Southern Petrochemicals Industries Corporation were among some of the stocks that hit their 52-week high.
Sameet Chavan, chief analyst- technical and derivatives, Angel Broking on today’s NSE movement said, “Clearly, there is no stopping for our markets as we saw small dip towards the fag end of the previous week got bought into. Markets continued their fabulous run and in the process, the Nifty has now achieved yet another milestone of 9500, which was very much on cards. Today, we witnessed a good broad-based rally in the market, leading index to close at its fresh high. We the Nifty to reach yet another magical figure of 9600 quite soon.”
Among other stocks that touched their 52-week hgh on Tuesday were Suprajit Engineering, Talbros Automotive Components, Tasty Bite Eatables, Trigyn Technologies, TVS Motor Company, UltraTech Cement, Vaibhav Global, Vijay Shanthi Builders, Websol Energy System, Sagar Cements and The Western India Plywoods.
However, Clariant Chemicals (India) Limited, Educomp Solutions, Flexituff International, Inox Wind, Hindustan Dorr-Oliver, JMT Auto, Shilpi Cable Technologies, Sita Shree Food Products, Usher Agro and Shekhawati Poly-Yarn were among 20 stocks that their 52-low week on NSE today.