Bulls seemed to be in control on Dalal Street on Wednesday morning with benchmark indices soaring higher. S&P BSE Sensex was up 634 points or 1.1% at 58,579 while the broader NSE Nifty 50 index was up 170 points or 1%, hovering around 17,500. Volatility was moving lower, down 5%, sitting just above 20 levels. While bulls moved ahead, 109 stocks on the BSE were at their 52-week high while 40 stocks were down at their lows. Similarly, on the NSE, 43 stocks were sitting at their highs and 23 scrips were hitting their lows.
While none of the stocks that make up the BSE Sensex hit fresh highs some of the marquee names that did soar include, Adani Enterprises, Adani Transmission, Chalet Hotels, Delta Corp, VIP Industries, Indian Hotels, EIH Hotels, and Shoppers Stop. Hospitality names have been soaring higher as covid restrictions ease and India allows international travellers for the first time since March 2020. On the downside, Gujarat Pipavav Port and Thyrocare Technologies were some of the stocks that hit fresh lows. Other stocks on the downside include Future Consumer, Future Market Networks, Future Supply Chain, Krsnaa Diagnostics, and Windlas Biotech among others.
Adani Enterprises, Adani Transmission, AgriTech (India), Adani Wimar, Chalet Hotels, Cummins India, EIH Limited, Lemon Tree Hotels, Mahindra Lifespace Developers, Oriental Hotels, Raymond, Usha Martin were some of the stocks that traded at a fresh 52-week high on the NSE on Wednesday morning. On the other hand, Akash Infra-Projects, GMR Power and Urban Infra, Godrej Agrovet, Motherson Sumi Wiring India, Neuland Laboratories, and Vardhman Textiles were hitting 52-week lows.
In terms of volume, United Polyfab Gujarat was the top gainer with 68,000 stocks exchanging hands between investors. This was 19.7 times higher than the 1-week average. Tata Coffee was the second most traded stock in terms of volume with 1.14 crore equity shares moving between investors, 13.26 times the 1-week average. Alps Industries Limited was the third most traded scrip with more than 1 lakh shares exchanging hands — 7.12 times the 1-week average. Other volume toppers include Swelect Energy Systems, Nucleus Software Export, and ABM International Limited.
