149 stocks hit 52-week high as markets make new highs

Tracking the extremely strong momentum in the broader market, as much as 149 stocks today touched their 52-week high on the BSE.

Among the stocks that touched their one-year high were Adani Ports, Apollo Tyres, Bharti Infratel, Hindustan Construction Company, L&T and SKS Microfinance.

Meanwhile, the BSE benchmark Sensex touched a lifetime intra-day high of 21,960.89 before settling at 21,919.79, a rise of 405.92 points or 1.89%.

Among the 30-Sensex components, 22 scrips ended higher while remaining eight closed lower. Major gainers from the Sensex were BHEL 6.31%, ICICI Bank 5.97%, Axis Bank 5.92%, RIL 5.72%, Bharti Airtel 5.46%, HDFC Bank 5.31% and Maruti Suzuki 5.21%.

From the 13 sectoral indices, 10 settled in the green led by BSE realty index that surged 5.40%, while three suffered losses, including healthcare, IT and Teck.

The NSE 50-share CNX Nifty also rose by 125.50 points, or 1.96%, to end at a new closing high of 6,526.65. It today hit a lifetime high of 6,537.80.

Marketmen said that decline in current account deficit (CAD) and easing inflation has fuelled expectations that the economy may see a turnaround soon.

"Euphoria continues on Dalal Street for the fourth successive session with noticeable buying across the board. It was broadly on the hope that the pre-election rally fuelled by foreign funds, along with an increased participation from retail investors will drive markets higher in the near-term.

"Mainly, the interest sensitive sectors stole the limelight whereas defensive sectors kept struggling and closed in red," said Jayant Manglik, President-retail distribution, Religare Securities Limited.

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