Several BSE SmallCap stocks reached new 52-week highs on July 11, including Apollo Tyres, Bombay Burmah Trading Corp, Kalyan Jewellers, IIFL Finance, Manappuram Finance, KIMS Hospitals, CCL Products, Chalet Hotels, and Mazagon Dock Shipbuilders. The companies cover a diverse range of industries, from jewellery and hospitality
With the markets scaling new highs, as many as 43 stocks from the Nifty50 index and 27 of the 30 scrips that are part of the S&P BSE Sensex are trading above their respective 200-day moving average (DMA).
The 200-DMA is seen as one of the most relevant trend indicators by investors and traders, who believe that stocks and indices trading above this level possess strength and are likely to rally in the short to medium term, while the ones trading below this level are viewed as bearish and expected to see a sell-off.
Wipro, UPL, Kotak Mahindra Bank, Hindalco, Infosys, Cipla, and Adani Enterprises are the only stocks from the Nifty50 pack that are still below their respective 200-DMA, the exchange data suggests.
The S&P BSE SmallCap Index surged as several small-cap companies, including Ahluwalia Contracts, Anand Rathi Wealth, and Chennai Petroleum Corporation, hit new 52-week highs. Other companies achieving significant milestones include The Anup Engineering, Black Box, Bombay Burmah Trading Corp, CCL Products
The S&P BSE FMCG index witnessed a remarkable surge today as several stocks hit new 52-week highs, reflecting the strength of the FMCG (Fast-Moving Consumer Goods) sector in the Indian market.
BSE Sensex gained 418.45 points, or 0.67 per cent, to settle at 63,143.16, while NSE's Nifty50 gained 114.65 points, or 0.62 per cent, to end the session at 18,716.15 for the day.