Deepak Fertilizers and Petrochemicals Corporation, Balkrishna Paper Mills, Maruti Suzuki, Ramco Industries, Tube Investments of India, United Breweries (Holdings) and Tata Investment Corporation were among 75 stocks that hit fresh 52-week high on NSE on Friday as stock markets rose for third straight day tracking gains in global markets. Global cues surged on receding fears of a rate hike by the US Federal Reserve next week. Markets also got a boost after Finance Minister Arun Jaitley expressed hope that the RBI will keep in mind the decline in retail inflation while deciding on interest rates at its policy review meeting on October 4. The 30-share Sensex gained 186 points to close at 28,599.03, while NSE Nifty settled at 8,779.85 by gaining 37.30 points. Sensex and Nifty slipped by 198.22 points and 86.85 points respectively for the week ended September 16.
On NSE Nifty’s Friday movement, Jayant Manglik, president, retail distribution, Religare Securities Ltd said, “Nifty edged higher in a volatile session on Friday and settled with gain of nearly half a percent. Firm global market led an upbeat start which further strengthened with favourable domestic cues like narrowing trade deficit data and Prime minister’s statement to expedite the processes for timely implementation of GST. But, jubilation ended with feeble start of the European markets and that trimmed intraday gains in the later half.”
Zee Media Corporation, Super Spinning Mills, Sun TV Network, Sundram Fasteners, Steel Strips Wheels, Reliance Industries, JK Lakshmi Cement, Manappuram Finance and Energy Development Company were among other stocks that hit fresh 52-week high.
However, there were 25 stocks that hit fresh 52-week low on NSE on Friday, which included AstraZeneca Pharma India, GlaxoSmithKline Pharmaceuticals, Larsen & Toubro Infotech, Ramco Systems, Pearl Global Industries and VKS Projects.