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 Wednesday’s 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.
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.