Apollo Tyres, Abbott India, Power Finance Corp & 75 other BSE stocks hit 52-week high today

BSE stocks such as Apollo Tyres, Abbott India, Power Finance Corporation are among 78 stocks that touched their respective one-year high levels on Friday.

Indian equity benchmarks rose in early trade, led by gains in consumer, metal and energy stocks. BSE and NSE barometers climbed today in volatile trade after falling for two straight sessions. However, losses in banks, financials and technology stocks capped gains.

On BSE, 78 stocks hit their 52-week high-level today, while 19 recorded their one-year lows in morning deals. The overall market breadth stood slightly positive as 1,518 shares were seen advancing while 1,435 were declining.

Reliance Industries, ITC, L&T, Hindustan Unilever, M&M, Bharti Airtel, Tata Steel, Bajaj Finance, Nestle India and Sun Pharma pulled the BSE index higher today.

128 stock touched their upper circuit levels today, while 81 hit their respective lower price bands.

On NSE, Yes Bank, Vodafone Idea, Suzlon, PNB, Indian Overseas Bank, IDBI, HCC, Tata Steel, South Indian Bank and IRFC were the most active stocks, in terms of volume.

In terms of value, Bajaj Finance, Bajaj Finserv, ICICI Bank, Infosys, Reliance Industries, Paytm, HDFC Bank, TCS, Yes Bank and PFC were the most active.

Eight out of the 15 Nifty sub-indices gained today. Nifty FMCG, Nifty Consumer Durables Nifty Metal and Nifty Oil & Gas were the best-performing sub-indices today, rising 0.59 per cent, 0.27 per cent, 0.19 per cent and 0.16 per cent, each.

VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said, "The major drag on the market now is the sustained selling by FIIs (foreign institutional investors). FIIs sold for the 10th consecutive day yesterday taking the cumulative selling to Rs 11,400 crore.

Further, FIIs sold Rs 1,449.45 crore worth of equities on a net basis on Thursday, while domestic investors offloaded Rs 194.09 crore worth of shares, as per provisional NSE data.

"The underperformers of last year like China and Europe are doing well. Clearly, FII money is chasing lower valuations by selling in overvalued markets like India. This trend might continue imparting weakness in the Indian market. This trend will open opportunities for investors," Vijayakumar added.

On the global front, Asian markets were seen trading on a higher note today.

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