155 stocks hit 52-week high as markets set new lifetime peaks

Mar 24 2014, 20:46 IST
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SummaryAs the stock market benchmark Sensex logged new lifetime peak today, 155 scrips hit their 52-week high on the BSE.

As the stock market benchmark Sensex logged new lifetime peak today, 155 scrips hit their 52-week high on the BSE.

The BSE 30-share key index Sensex ended at 22,055.48, reflecting a gain of 300.16 points, or 1.38 per cent.

The index surpassed its previous closing high of 21,934.83 recorded on March 10 and lifetime peak of 22,040.72 set on March 18.

Market experts said that Indian markets have been strong this year aided by robust FII flows and optimism related to general elections.

"The equity markets are at new all-time highs largely fuelled by pre-election optimism. Markets are factoring in a strong positive mandate in the outcome of the upcoming general elections.

"In addition, of late global cues have also been favourable for Indian equities. Moreover, domestically a key positive is that headline inflation has eased considerably," said Lalit Thakkar, MD-Institution, Angel Broking.

Among the stocks that hit their 52-week high were TVS Motor, HDFC Bank, ICICI Bank, Maruti Suzuki, Voltas and Zen Tech.

According to Jayant Manglik, President-retail distribution, Religare Securities, "The surge in stocks was triggered by the buoyancy in banking counters as majority expects there would be no change in policy rates."

Among the 30-Sensex blue-chips, 24 ended the day in green led by Gail.

Banking, oil and gas, metal, auto, power and capital goods sectors saw good buying, while healthcare, consumer durable and IT counters saw profit-booking.

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