Bharti Airtel, HCL Tech Among 300 Stocks Hit 52-Week Highs; What Lies Ahead?

Though the bourses today witnessed lackluster performance, as Nifty and Sensex ended in red, however, close to 327 stocks hit their 52-week highs on BSE

Stocks including Bharti Airtel, HCL Tech, JSW Steel, Zomato, Bajaj Auto saw their 1-year highs

Other Notable stocks who saw their 52-week high

Apollo Hospitals, Persistent Systems, United Spirits, Shriram Finance, Pidilite Industries, Naukri, LTIMindtree, Havells India, Divi's Labs, Cholamandalam Investment and Finance Company and Britannia Industries are also the ones who witnessed their 1-year highs

What happened in the stock market today ?

The Sensex and the Nifty 50 underperformed with mild losses due to profit booking in today’s trading session. Sensex was down by 72 points at 82,890.94 while Nifty 50 slipped by 0.13% to touch at 25,356.50.

While midcap and smallcap indices were in green, BSE Midcap and Smallcap indices hit their lifetime highs during today’s trading session. The BSE Midcap index rose 0.48% while smallcap index surged 0.95%. Today the overall market capitalisation stood at ₹468.7 lakh crore from previous day’s ₹467.4 lakh crore, which contributed in making investors richer by ₹1 lakh crore in a single trading session.

However, about 32 stocks in the Nifty 50 index including SBI Life and Adani Ports lost their sheen by falling in the range of 1%-2%.

What lies ahead for the markets?

The market will be keeping a close watch on next week’s US Fed meeting in which the central bank is expected to cut the interest rates by 25 bps. Investors will be keeping a close watch on Fed Chair Jerome Powell’s commentary on economic growth and inflation dynamics. Notably, the outcomes of the Fed meet will set the tone for the global markets in the coming days, said the experts.