Essel Propack, Eicher Motors, IL&FS Transportation Networks, Gujarat Narmada Valley Fertilizers and Chemicals, Welspun Enterprises, Vakrangee and Century Textiles & Industries were among 58 stocks that hit fresh 52-week high on NSE on Wednesday as stock markets ended flat ahead of US Federal Reserve meet outcome slated to be announced later in the day. Following their global counterparts, stock markets were firm for most part of the session after the Bank of Japan announced new monetary measures and as investors awaited the outcome of the Fed’s policy-setting meeting. Sensex settled at 28,507.42 by falling 15.78 points, while NSE Nifty ended the day with marginal gain of 1.25 points at at 8,777.15.
On Wednesday’s stock markets movement, Jayant Manglik, president, retail distribution, Religare Securities said, ” Nifty ended almost unchanged in a volatile session on Wednesday amid mixed cues, keeping the uncertainty intact ahead of the US Fed policy meet. In first half, Bank of Japan’s unchanged stance on deposit rates and latest policy measures to boost their economy lifted sentiments across the globe including ours. Besides, anouncement of new cities to be developed under Smart City Mission and cabinet’s approval to merger of rail budget with union budget triggered some buying interest in infra stocks. But soon anxiety of the US Fed meet took over again and eliminated all the intraday gains.”
Energy Development Company, IOL Chemicals and Pharmaceuticals, Jubilant Life Sciences, RPG Life Sciences, S. P. Apparels, Whirlpool of India, Sree Rayalaseema Hi-Strength Hypo, Prime Securities, Prajay Engineers Syndicate, R.P.P. Infra Projects, Jyothy Laboratories and GPT Infraprojects were among other stocks that too touched 52-week high.
AstraZeneca Pharma, Sab Events & Governance Now Media, Visesh Infotecnics, PDS Multinational Fashions, Naga Dhunseri Group, Hexaware Technologies and Ruchi Infrastructure were among 19 stocks that hit fresh 52-week low on NSE on Wednesday.