Stock markets ended the day in negative terrain after a four-day rally following profit-booking amid a mixed trend in global markets. Sensex settled the day 62.83 points down at 30,188.15, while NSE Nifty ended 21.50 points down at 9,400.90.
AksharChem India, Amrutanjan Health Care, Asian Hotels (North), Ballarpur Industries, Cadila Healthcare, DLF, Escorts, Eurotex Industries, Indiabulls Ventures, JK Cement, Kansai Nerolac Paints, Larsen & Toubro Infotech, Maruti Suzuki India, Motherson Sumi Systems, Oriental Hotels, Navkar Corporation, PTC India Financial Services, Rajesh Exports, Shalimar Paints, Supreme Industries, Titan Company, TVS Motor Company and The Western India Plywoods were among 61 stocks that hit their 52-week high on NSE on Friday. Stock markets ended the day in negative terrain after a four-day rally following profit-booking amid a mixed trend in global markets. Sensex settled the day 62.83 points down at 30,188.15, while NSE Nifty ended 21.50 points down at 9,400.90.
On this week stock market movement, Jimeet Modi, CEO, SAMCO Securities said, “The market’s upward trajectory is getting weaker and weaker. The prices are not able to rise near the upper channel of the bull track established since last four months. The MACD indicator which measures the momentum is faltering since last few weeks. Market is moving up cautiously. The higher top, higher bottom sequence will be fractured if the Nifty50 breaks below 9225, which should be the trailing stops for all long trading positions and levels below which even investors can partially book profits in over heated stocks. When the level of 9225 is broken in Nifty50 there is possibility of deeper and longer correction ahead.”
Apollo Sindoori Hotels, ADF Foods, Crompton Greaves Consumer Electricals, Escorts, Gokul Refoils and Solvent, Man Infraconstruction, Orient Bell, Orient Press, Shipping Corporation Of India, Tourism Finance Corporation of India, Websol Energy System, HOV Services, IMP Powers, Navkar Corporation, Nucleus Software Exports and S.A.L. Steel were some other stocks that hit their 52-week high.
However, Anjani Portland Cement, ATN International, Dr. Reddy’s Laboratories, FCS Software Solutions, Green Fire Agri Commodities, Hindustan Dorr-Oliver, JMT Auto, Mahamaya Steel Industries, Rasoya Proteins and Rollatainers were among 15 stocks that hit their 52-week low on NSE on Friday.