Market Now: Nifty above 10,450, but over 60 stocks hit fresh 52-week lows


NEW DELHI: Even as broader markets reflected positive sentiments, over 60 stocks hit fresh 52-week lows on NSE.

Dhanlaxmi Bank, Electrosteel Steels, Gitanjali Gems, GTL Infrastructure, Jubilant Industries, UCO Bank, Orchid Pharma and LML were among the stocks that hit fresh 52-week lows on NSE.

Equity benchmarks erased losses of the opening session and were trading in the positive terrain on the back of buying in bank, financial, telecom, healthcare and oil stocks.

Investors welcomed positive macroeconomic data. India’s industrial production grew at a robust pace for the third straight month, at 7.5 per cent in January, while retail inflation slowed for the second consecutive month to 4.4 per cent in February, signalling that the economy may be set on a strong recovery path.

Around 11:10 am (IST), the NSE Nifty50 index was 39 points up at 10,460, while the BSE Sensex was 105 points up at 34,023.

Among the 50 stocks in the Nifty pack, 38 were trading up, whereas 12 were down.

Axis Bank, Wipro, State Bank of India and Sun Pharma were the top gainers in the Sensex index.

On the other hand, Tata Consultancy Services, Coal India and NTPC were among the top losers in the Sensex kitty of stocks.

Source: Economic Times