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Benchmark NSE Nifty index was trading 80.75 points up at 14725.45 on Thursday on account of buying in frontline bluechip counters.
Among the stocks that touched their 52-week highs on NSE were: Alps Industries, Apollo Tyres, Bajaj Auto, Jindal Steel & Power, JK Tyre & Industries, Larsen & Toubro, MRF, Minda Industries, SBI Cards and Payment, Siemens, Tata Motors and Voltas.
Overall, 37 shares were trading in green in Nifty50 index, while 13 were trading in red in the afternoon trade.
In the Nifty 50 index, Tata Motors, Bajaj Finserv, Bajaj Finance, Bajaj Auto and UPL were among top gainers, while Tata Steel, HDFC Bank, JSW Steel, Tech Mahindra and Adani Ports SEZ were trading in red.
Shares of Tata Motors, IDFC First Bank, Tata Elxsi, Trident, JK Tyre & Industries and Sobha, from the S&P BS500 index have surged over 50 per cent in the past month on the back of a strong rally in the equity markets. In comparison, S&P BSE500 index has gained 11 per cent, while the benchmark S&P BSE Sensex was up 10 per cent during the month.
Tata Motors hit a 31-month high of Rs 295, up 7 per cent in the intra-day deals today, and was the top gainer among the list. The stock has zoomed 80 per cent in the past one month on Tesla tie-up buzz. The stock of the Tata Group commercial vehicles company was trading at its highest level since June 2018. Moreover, its market capitalisation swell to Rs 90,708 crore at 11:40 am, inching towards the Rs 1-trillion mark.
Shares of tyre companies hogged the limelight in Wednesday s session and rallied up to 15 per cent on the BSE after Ceat reported a strong operational performance for the quarter ended December 2020 (Q3FY21). Ceat, on Tuesday, said that in Q3FY21, its Ebitda (earnings before interest, taxes, depreciation, and amortization) margin improved by 460 basis points (bps) to 15.3 per cent over the previous year quarter. The stock of the auto tyres and rubber products company hit a 52-week high of Rs 1,352 today, having surged 12 per cent in the past two trading days, post its Q3 results. The company’s consolidated net profit more-than-doubled to Rs 132 crore in Q3FY21 from Rs 53 crore in Q3FY20. This quarter’s growth has been achieved on the back of new capacities across segments, particularly passenger car, two-wheeler and farm segments. The replacement market has been buoyant of consumer preference in personal mobility and strong demand.
Investors dragged their feet over further bullish bets on the market given emerging concerns over a stuttering global economic recovery in the near term.
Benchmark indices were trading with modest losses in afternoon trade. Rising coronavirus cases across US, Europe and China weighed on investors sentiment. At 13:20 IST, the barometer index, the S&P BSE Sensex, dropped 257.52 points or 0.52% at 49,326.64. The Nifty 50 index lost 80.45 points or 0.55% at 14,515.15.
Broader markets traded with minor losses. The S&P BSE Mid-Cap index fell 0.62%. The S&P BSE Small-Cap index skid 0.40%.
Sellers outpaced buyers. On the BSE, 1,096 shares rose and 1,749 shares fell. A total of 141 shares were unchanged. In Nifty 50 index, 17 stocks advanced while 33 stocks declined.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,076.62 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 188.10 crore in the Indian equity market on 14 January 2021, provisional data showed.