Domestic stock markets closed higher on Thursday following fresh buying by investors amid a firm trend in other Asian bourses. Market sentiments got a boost after the global markets rose taking a cue from Wall Street as minutes from the Federal Reserve’s latest policy meeting pointed at a June rate hike and indicated healthy US economy. The BSE Sensex closed at new peak of 30,750.03 by jumping 448.39 pts, while NSE Nifty surged 149.20 points to settle at 9,509.75. Adani Transmission, Electrotherm (India), Emmbi Industries, HDFC Bank, Hindustan Unilever, ICICI Bank, Kesar Enterprises, KIOCL, Lakshmi Finance & Industrial Corporation, Larsen & Toubro, Larsen & Toubro Infotech and Maruti Suzuki were among the 17 stocks that touched their 52-week high on NSE today.
According to Prathamesh Mallya, chief analyst-non-agri commodities and Currencies, Angel Commodities Broking said, “Markets believe that the minutes had a dovish touch which worked in favour of the Asian market equities including India. A high rate in the west will prompt the investors to invest in dollar denominated assets which would have been a negative factor for emerging market economies like India. Since the release of the FOMC meeting minutes, the US Dollar Index has been trading low which in turn has benefitted the Indian Rupee which has appreciated since its opening today.”
Shakti Pumps (India) Limited, TVS Motor Company, Voltas, Weizmann Forex and Johnson Controls Hitachi Air Conditioning India Limited were some other stocks that hit their 52-week high on NSE on Thursday.
However, Abbott India, ABG Shipyard, Adhunik Metaliks, Anjani Portland Cement, Bafna Pharmaceuticals, Bhagyanagar India, Camlin Fine Sciences, Divi’s Laboratories, Dr. Reddy’s Laboratories, Educomp Solutions, Energy Development Company, Flexituff International, Gammon India, GlaxoSmithKline Pharmaceuticals, Green Fire Agri Commodities, Indian Card Clothing Company, Kaushalya Infrastructure Development Corporation, Mahamaya Steel Industries, Mcnally Bharat Engineering Company, Nitin Fire Protection Industries and S Chand And Company were among 71 stocks that hit their 52-week low on NSE on Thursday.
Among the stocks that hit its 52-week-low was Lupin, which extended its losses for second straight day on Thursday after its fourth-quarter earnings disappointed. Lupin closed 7.20 per cent down at Rs 1,140. On the volume front, over 83 lakh shares changed hands on NSE during the day. Lupin on Wednesday had reported over 49 per cent dip in consolidated net profit to Rs 380.21 crore for the fourth quarter ended March as compared to net profit of Rs 747.88 crore in the corresponding quarter of previous fiscal.
Shekhawati Poly-Yarn, Take Solutions, Tara Jewels, Tree House Education & Accessories, TV Vision, Urja Global, Usher Agro, Videocon Industries, Visagar Polytex, Wockhardt and Zodiac JRD- MKJ were some of the other stocks that hit their 52-week low.