BSE Sensex and NSE Nifty 50 were trading more than half a per cent up, each, on Thursday, on the day of weekly F&O expiry of contracts. BSE Sensex hit day’s high of 54,249.74, while NSE Nifty rose to a day’s high of 16,139.50 so far in the day. On the S&P BSE Sensex, Mahindra & Mahindra (M&M) stock hit a fresh 52-week high of Rs 1,138.80 apiece, surpassing the previous high of Rs 1,121 apiece.
Analysts say that after almost 3-4 years of underperformance, auto sector stocks including M&M are rallying well since the past few weeks due to lower raw material costs as metal prices keep falling & stable petroleum prices now in India. “Current levels should be used by investors to book profits in their buy positions. 980-990 levels should be used to re-enter fresh buy positions in the coming weeks,” Pavitraa Shetty, Co-founder & Trainer, Tips2Trades. While no stock fell to new 52-week low on S&P BSE Sensex in the afternoon deals.
On the flip side, 23 scrips fell to their respective 52-week low levels on BSE Sensex. These were 5paisa Capital, Andhra Cements, Parsvnath Developers, Citiport Financial Services, Cyient, Silver Oak Commercial, and Triveni Enterprises, among others.
On the National Stock Exchange, 26 stocks rose to 52-week highs, while 14 fell to their respective 52-week lows in the afternoon deals. Stocks that hit new 52-week highs were ABB India, Aether Industries, Chalet Hotels, Dangee Dums, ICICI Prudential Nifty 5 Yr Benchmark G-SEC ETF , Kernex Microsystems (India) Ltd, KPI Green Energy, Lumax Auto Technologies, Mahindra & Mahindra, Marathon Nextgen Realty, Motherson Sumi Wiring India, Nippon India Mutual Fund – ETF Nifty SDL – 2026 Maturity, and Varun Beverages, among others.
On the contrary, the stocks that fell to their respective 52-week lows were 5Paisa Capital, Ajanta Pharma, Electrotherm (India), Music Broadcast, Parsvnath Developers, and Future Consumer, among others.
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