199 stocks scale 52-week high as Sensex hits new peak

As many as 199 stocks tracked the strong momentum in the broader market today and touched their year-high levels as the BSE benchmark Sensex surged 522.

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As many as 199 stocks tracked the strong momentum in the broader market today and touched their year-high levels as the BSE benchmark Sensex surged 522.66 points to hit an all-time high of 28,829.29.

Among the blue-chip stocks that touched their 52-week high mark included Axis Bank, HDFC, HDFC Bank, ICICI Bank and Tata Motors.

Others included Yes Bank, Whirlpool of India, SpiceJet, MindTree, MRF and HT Media also hit one-year peak.

From the 30-Sensex constituents, 22 ended the day with gains led by HDFC and Sesa Sterlite Ltd.

“Markets touched all-time high on both global as well as local investors huge buying. There is a left out feeling amongst domestic investors who are hugely underweight on equity as an asset class. There is optimism also due to US President Obama’s visit during coming week,” said Motilal Oswal, CMD, Motilal Oswal Financial Services.

The Sensex, closed at 28,784.67, a jump of 522.66 points or 1.85 per cent. The BSE’s 30-share index resumed on a positive note and touched a new all-time intra-day peak of 28,829.29, surpassing its previous high of 28,822.37, recorded on November 28.

Among the sectoral index, metal rose the most by surging 3.03 per cent, followed by bank index 1.84 per cent.

“Equity markets scaled a new high today. There is no one reason for this, the over market is in a bull grip. The IMF’s optimistic forecast on India’s expected growth rate till 2016 was another shot in the arm, as was the prediction that India’s growth rate may exceed China’s after a long time,” said Jayant Manglik, President-retail distribution, Religare Securities Limited.

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