Despite the bearish market sentiment, ICICI Bank, State Bank of India, Infosys, and Tech Mahindra hit their respective 52-week high values on the BSE.
BSE Sensex and NSE Nifty 50 were under the firm control of bears on Wednesday witnessing heightened volatility. S&P BSE Sensex was down more than 450 points or 0.70% to trade just above 61,200, while the NSE Nifty 50 dived more than 0.80% to give up 18,300. Despite the bearish market sentiment, ICICI Bank, State Bank of India, Infosys, and Tech Mahindra hit their respective 52-week high values on the Bombay Stock Exchange (BSE). Of these only SBI managed to hold its gains with minutes left before the closing bell, while others slipped and moved into the red. On the other hand, a total of 57 securities hit their 52-week highs on the National Stock Exchange.
Hitting new highs & lows
A total of 170 stocks on the BSE hit their 52-week highs on Wednesday amid bearing market momentum. Apart from the four Sensex constituents, these other gainers included Bata India, Larsen & Toubro Infotech, Trident, Shoppers Stop, and Sonata Software. On the other hand, only 25 securities listed on the BSE reached fresh 52-week low values. These included the newly listed Krsnaa Diagnostics and Sansera Engineering along with Strides Pharmaceuticals, India Bright Steel, Sun Retail, and Trescon.
On the NSE a total of 57 stocks reached fresh 52-week highs while 14 reached a new 52-week low. Some of the stocks to hit fresh highs include Paras Defence and Space Technologies Limited, DB Realty, Arihant Foundations & Housing, State Bank of India, Larsen & Toubro Infotech, Oriental HotelsLimited, Tech Mahindra, Transport Corporation of India, CG Power and Industrial Solutions, and ICICI Bank.
Stock to hit 52-week low included the newly listed Aditya Birla Sun Life AMC, Glenmark Life Sciences Limited, Sansera Engineering Limited, Strides Pharma Science, and Supreme Engineering among others.
Vodafone Idea was once again witnessing heightened trading volume on Wednesday. According to NSE as many as 36.75 crore equity shares of the telecom company exchanged hands on NSE.
Tata Power was trading flat with trading volume was the second-highest on NSE, with 20.7 crore equity shares traded on the NSE with minutes left to the closing bell.
Punjab National Bank was seeing the third highest trading volume on NSE on Wednesday. NSE data showed that 10.57 crore equity shares of the lender exchanged hands on the National Stock Exchange. Following PNB was Yes Bank. On NSE, 8.42 crore equity shares of Yes Bank were traded on Wednesday.