As Nifty settles below 8710, 80 stocks buck trend to hit fresh 52-week high today

By: | Published: September 27, 2016 5:35 PM

80 stocks hit fresh 52-week high on NSE on Tuesday, which included Ajanta Pharma, Century Textiles & Industries, Chemfab Alkalis, Bharat Petroleum Corporation, Biocon, GTL Infrastructure, JK Lakshmi Cement, IDFC Bank, Jubilant Life Sciences and Multi Commodity Exchange of India (MCX).

As Nifty settles below 8,710, 80 stocks buck trend to hit fresh 52-week high today80 stocks hit fresh 52-week high on NSE on Tuesday, which included Ajanta Pharma, Century Textiles & Industries, Chemfab Alkalis, Bharat Petroleum Corporation, Biocon, GTL Infrastructure, JK Lakshmi Cement, IDFC Bank, Jubilant Life Sciences, Multi Commodity Exchange of India (MCX),Manappuram Finance, Mukta Arts, Narayana Hrudayalaya and Rain Industries. (Photo: Reuters)

Domestic equity markets pared their initial gains and closed lower on selling pressure on Tuesday amid weak European cues. Sensex dropped 70.58 points to end at 28,223.70, while Nifty slumped 16.65 points to close at 8,706.40. However, 80 stocks hit fresh 52-week high on NSE on Tuesday, which included Ajanta Pharma, Century Textiles & Industries, Chemfab Alkalis, Bharat Petroleum Corporation, Biocon, GTL Infrastructure, JK Lakshmi Cement, IDFC Bank, Jubilant Life Sciences, Multi Commodity Exchange of India (MCX),Manappuram Finance, Mukta Arts, Narayana Hrudayalaya and Rain Industries.

MCX and Mukta Arts hogged limelight in Tuesday’s trade with the former buzzing as it reportedly hiked the transaction charges for trades on its platform. Mukta Arts is planning to transfer its entire business of cinema division to its newly formed wholly-owned subsidiary Mukta A2 Cinemas.

Shreyash Devalkar, Fund Manager – Equities, BNP Paribas Mutual Fund said, “The benchmark Sensex and the Nifty finally closed the day with losses of over 0.1%. Most European and Asian stocks traded with gains after sentiment was buoyed by the US presidential debate where Democrat appeared to gain momentum over Republican candidate. Investors were reacting to the first televised debate between US presidential nominees Hillary Clinton and Donald Trump yesterday, 26 September 2016. With the exception of IT and healthcare, all other sectoral indices on the National Stock Exchange (NSE) traded in the red.”

Igarashi Motors India, Energy Development Company, Lumax Industries, National Steel And Agro Industries, Phillips Carbon Black, The Ruby Mills, Som Distilleries & Breweries, Vinati Organics, Vivimed Labs, West Coast Paper Mills and Spentex Industries were among other stocks that hit fresh 52-week high.

Hathway Cable & Datacom, Idea Cellular, Mandhana Industries , MindTree, Mcnally Bharat Engineering Company, Pearl Global Industries, Ruchi Infrastructure, VKS Projects, Visesh Infotecnics, Shree Ganesh Jewellery House and AstraZeneca Pharma were among 29 stocks that hit fresh 52-week low on NSE on Tuesday.

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