Dilip Buildcon, 3i Infotech, Alkem Laboratories, Dewan Housing Finance Corporation were among the 52 stocks that touched their fresh 52-week high on NSE on Friday as the benchmark NSE Nifty index closed 80 points up at 8,672.15. Stock markets closed higher on Friday on account of better-than-expected first quarterly performance from lenders like State Bank of India and Bank of India amid firm global cues. Market sentiment also got a boost after India Meteorological Department (IMD) said rainfall was above average. Sensex closed 292.80 points up to settle at 28,152.40.
Shreyash Devalkar, fund manager – equities, BNP Paribas mutual fund said,” It was a positive day on the bourses as markets soared and regained ground that they had lost earlier in the week. Following a record closing in the US and firm Asian markets, domestic benchmark indices opened the day in the green and continued to trade on a positive note for the rest of the day, to finally close with gains of approximately 1%. Market sentiment was given a fillip after the India Meteorological Department (IMD) in its weekly monsoon update issued on Thursday, said that for the country as a whole, cumulative rainfall during this year’s monsoon season was 3% above the long period average (LPA) until August 10. Barring IT and healthcare, all other sectoral indices on the National Stock Exchange (NSE) traded in the green, with the banking, metals and auto indices registering gains of over 1%.”
L&T Finance Holdings, Yes Bank, Shilpi Cable Technologies, Shree Cements, Asian Paints, Axis Bank and Dhanuka Agritech were among stocks that hit their fresh 52-week high.
Infrastructure firm Dilip Buildcon shares hit their 52-week high a day after making strong debut on the bourses.