726 stocks on BSE hit 52-week highs
Sensex spurted by 319 points, to end at a new historic closing high of 24,693.35
Mumbai: As many as 726 stocks on Friday hit 52- week highs on the Bombay Stock Exchange as the benchmark index Sensex recorded a new closing peak on hopes of a big reforms push under the incoming Narendra Modi-led BJP government. Some of the prominent ones were — Ashok Leyland, Bank of India, Canara Bank, GVK Power, HCL Infosystems, Indian Overseas Bank, JSW Steel, Maruti Suzuki, MTNL, NHPC, NTPC, Punjab National Bank, REC, Reliance Power, State Bank of India, Tata Power, Tata Comm and TVS Motor.
The Bombay Stock Exchange Sensex spurted by 319 points, or 1.31 per cent, to end at a new historic closing high of 24,693.35. The index surpassed its previous record closing of 24,376.88 reached on May 20. Among the 30 Sensex stocks, 22 ended the day in green with SBI leading the chart. Out of the 13 BSE sectoral indices, 11 ended the day in positive territory led by power index. In all, 2,267 stocks advanced, while 912 declined.
"Amid volatility, the benchmarks were seen registering decent gains on Friday and ended close to the day's high. In absence of any major domestic cue, positive global market and better than expected result from the PSU banking major State Bank of India (SBI), kept the sentiments on positive side," said Jayant Manglik, president-retail distribution, Religare Securities.