NIFTY50 and SENSEX extend gains for fourth consecutive day; 88 stocks 52-week high; check details

Domestic equity indices magnified their gains and were trading higher by over 1% in late morning deals as market participants indulged in enlarging their positions. Meanwhile, broader indices were also trading firm with the BSE Mid cap index and Small cap index gaining in the range of 1.20-1.75%.

Hectic buying in Indusind Bank, Tech Mahindra, Axis Bank, Bajaj Finserv and SBI companies’ stocks helped the markets to magnify their gains. Sentiments were supported by the Indian rupee appreciating 27 paise to 85.11 against the dollar at the Interbank Foreign Exchange on increased selling of the US currency by exporters and banks. Besides, support also came in as the RBI said that India's forex reserves increased by $1.567 billion to $677.835 billion for the week ended April 11.

On the global front, Asian markets were trading mixed as China’s central bank held rates at a time when the yuan has come under pressure due to Beijing-Washington trade tensions. The People’s Bank of China kept its key loan prime rates unchanged at 3.10% for 1-year loan maturities and 3.60% for 5-year loan maturities. Back home, most of the sectoral indices on the BSE were trading in green, led by Oil & Gas, PSU, Metal, Energy and Banking.

The SENSEX is currently trading at 79400.07, up by 846.87 points or 1.08% after trading in a range of 78776.06 and 79428.10. 23 stocks were advancing against 7 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 1.74%, while Small cap index up by 1.26%.

The top gaining sectoral indices on the BSE were Oil & Gas up by 2.42%, PSU up by 2.24%, Metal up by 2.12%, Energy up by 2.08% and Bankex up by 2.05%, while FMCG down by 0.67% was the only losing indices on BSE.

The overall market breadth turned in favour of advances as 88 stocks hit the 52-week high and 14 stocks hit 52- 52-week low. Here are some key stocks that hit a 52-week high today.

The NIFTY50 is currently trading at 24118.85, up by 267.20 points or 1.12% after trading in a range of 23903.65 and 24129.25. 42 stocks were advancing against 8 stocks declining on the index.

Asian markets were trading mixed; Jakarta Composite plunged 17.24 points or 0.27% to 6,421.03, Nikkei 225 slipped 389.45 points or 1.13% to 34,340.83, and Taiwan Weighted lost 304.8 points or 1.6% to 19,090.23. However, Shanghai Composite strengthened 11.41 points or 0.35% to 3,288.14, Straits Times rose 40.5 points or 1.08% to 3,760.83, and KOSPI increased 2.41 points or 0.1% to 2,485.83.