Stock market update: Over 10 stocks hit 52-week highs in a weak market

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NEW DELHI: Over 10 stocks including Bandhan Bank, Indiabulls Integrated Services, Ind-Swift Laboratories, MM Forgings and NELCO hit 52-week highs on NSE during Thursday’s trade even as equity markets were in the negative terrain.

Benchmark indices Sensex and Nifty were down, tracking weakness in global stocks after the US Federal Reserve hiked interest rates for the second time this year and hinted at two more such hikes in the remainder of 2018.

Concerns over widening current account deficit (CAD) at home and data showing lower-than-expected Chinese factory output growth too weighed on the sentiment. Besides, all eyes were on US President Donald Trump’s meet with his top trade advisers later in the day to decide on tariff on Chinese goods.

Benchmark NSE Nifty50 index was down 61 points at 10,795, while the BSE Sensex was 183 points down at 35,556.

Among the 50 stocks in the Nifty index, 13 were trading in the green, while 37 were in the red.

HCL Technologies, Cipla, Sun Pharma, Hindalco Industries and Tata Steel were among the top gainers in the Nifty index.

On the contrary, Infosys, Tech Mahindra, State Bank of India, Tata Consultancy Services and GAIL (India) were leading among Nifty losers.

Source: Economic Times