Market update: 132 stocks hit fresh 52-week high on BSE; Tech Mahindra, SBI top Nifty losers
Shriram Transport Finance, Adani Ports, Power Mech Projects, Graphite India, DHFL and Cipla were the stocks that hit fresh 52-week high on NSE.
Moneycontrol News
The Nifty in the afternoon trade extended its losses and was down 18.80 points at 10423 while the Sensex shed 35 points and trading at 33565.
CNX Pharma zoomed 2.93 percent on Thursday afternoon with Divis Laboratories rallying over 15 percent. Other pharma stocks which gained the most were Aurobindo Pharma, Dr Reddy's Labs, Cadila Healthcare, Sun Pharma, Lupin and Glenmark Pharma.
From the Nifty, the stocks that gained the most included Aurobindo Pharma, Dr Reddy's Labs, Sun Pharma, Lupin and HCL Technologies. The most active stocks included Divis Laboratories, ICICI Bank, State Bank of India, Sun Pharma and Shriram Transport Finance Corporation.
The top Nifty losers were Tech Mahindra which fell over 4 percent followed by Hindalco Industries, ITC, State Bank of India and Tata Motors.
The stocks which gained the most in the BSE index were Divis Laboratories followed by Infibeam, Hexaware Technologies, Shrrram Transport Finance and Hindustan Copper.
Several stocks hit new 52-week high on the NSE, the likes of Bannari Amman, Shriram Transport Finance, Adani Ports, Power Mech Projects, Graphite India, DHFL and Cipla. The stocks which hit 52-week high on the BSE were Bengal & Assam Company, Eldeco Housing, DIL, Weizmann Forex, Tata Sponge and Dredging Corp.
The market breadth was weak and in favour of the declines with 770 stocks advancing as against 872 declines while on the BSE, 1194 advanced and 1367 declined.
Global research firm Credit Suisse has maintained a neutral rating on Hexaware Technologies and has hiked price target to Rs 265 from Rs 230. It has raised the company's earnings estimates by 4-7 percent, accounting for lower tax rate and slightly higher margins.
Technical Analyst Ashwani Gujral of ashwanigujral.com, has a buy on MMTC with a stop loss of Rs 68, target of Rs 76 and Hindustan Copper with a stop loss of Rs 73, target of Rs 85.
