Even though the Indian stock market witnessed a strong selloff on Thursday, February 12, some 10 large-cap stocks from various sectors hit their 52-week highs in intraday trade on the BSE.
BSE data showed that 10 BSE 100 stocks, including State Bank of India (SBI), Shriram Finance, and ONGC, scaled their one-year peaks even as the Sensex crashed 559 points, or 0.66%, to end at 83,674.92.
Overall, 140 stocks hit their 52-week highs, while 111 hit their 52-week lows on the BSE on Thursday.
Stocks at 52-week highs
1. SBI: The stock hit its 52-week high of ₹1,203.50 during the session. However, eventually the PSU bank stock ended 0.80% up at ₹1,192.50 on the BSE.
2. Shriram Finance: Before ending 2.52% higher at ₹1,083.25, the NBFC stock scaled its one-year peak of ₹1,087 on the BSE.
3. Oil and Natural Gas Corporation (ONGC): After hitting a 52-week high of ₹280.35, the oil exploration major closed with a decent gain of 0.60% at ₹276.25.
4. Larsen & Toubro (L&T): L&T share price hit a 52-week high of ₹4,198.75, but closed with a nominal gain of 0.28% at ₹4,181.55.
5. NTPC: NTPC shares rose to a 52-week high of ₹372 during the session but failed to hold gains and ended 0.09% lower at ₹368.10.
6. JSW Steel: JSW Steel shares closed 0.14% lower at ₹1,247 after hitting a 52-week high of ₹1,247.
7. Indian Oil Corporation (IOC): IOC share price climbed to a one-year peak of ₹182.50 but fell prey to profit booking and suffered a significant loss of 1.71% to end at ₹178.20.
8. Indus Towers: Indus Towers shares hit a one-year high of ₹475 and closed near that level at ₹474.05, up 1.50%.
9. Eicher Motors: The stock jumped to its 52-week high of ₹7968.15 and finally ended 2.19% higher at ₹7,943.10.
10. Bajaj Auto: The auto stock ended with a loss of 0.31% at ₹9,837.30 after hitting a 52-week high of ₹9,928 on the BSE.
Why did the market fall today?
The domestic market ended lower on profit-booking across sectors after a sharp selloff in IT stocks amid concerns about AI-led disruptions and anticipation of a delayed US Fed rate cut, which weighed on sentiment.
“Sentiment weakened as traders reacted to heavy selling in information technology stocks and mixed global developments. Strong U.S. jobs data reduced expectations of imminent Federal Reserve rate cuts, which weighed on global risk assets and contributed to the domestic market’s downturn. As a result, multiple intraday rebound attempts failed to sustain,” Ajit Mishra, SVP- Research at Religare Broking, noted.
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