SBI, PNB, Titan, Bajaj Finance, Titan, Airtel among 17 largecaps hitting 52-WHs today

Bharti Airtel, State Bank of India (SBI), Cipla, Axis Bank, Maruti Suzuki India, Hindalco Industries, Punjab National Bank (PNB) and Titan Company are among 17 of top 100 largecap stocks, which hit their 52-week highs today. Hero MotoCorp, TVS Motor, Grasim, Apollo Hospitals Enterprise Ltd and Tata Consumer Products Ltd (TCPL) are a few other largecap stocks hitting their one-year highs today.

The gained were seen, thanks to a recent rally in largecaps, with Nifty and Sensex rising 4 per cent each in the past one month. This is against a 1.3 per cent rise in the Nifty Midcap 150 index and a flattish Nifty Smallcap 250 index during the same period year.

The short-covering in the last few days is likely to continue, pushing the largecaps higher, said VK Vijayakumar, Chief Investment Strategist, Geojit Investments. The big concern in the market, which has been the poor earnings growth, is getting addressed , he said adding that the market is on track to set new highs soon. Sectors with tailwinds of growth are likely to outperform, the analyst added.

"Nifty has been maintaining the rhythm of witnessing rally after approaching maturity of price and time wise correction. As Nifty has rallied 18 per cent off April low, within which intermediate corrections arrested within 3-5 per cent range. Meanwhile, timewise, over past three decades, there have been 12 instances wherein index has staged a strong rebound after consecutive 8 sessions negative close, garnering 7 per cent rolling return in a month. In current scenario, index has rallied 5 per cent," ICICI Securities said.

Axis Securities said since the February 2025 low, the benchmark index Nifty 50 has gone up by 14 per cent till October 9th, while mid and smallcap stocks rebounded with a rally of 22 per cent and 23 per cent, respectively.

"Even with this bounce back, the Indian market has given a flattish return since last Diwali (1st Nov’24). During this period, the Nifty 50 and Midcap Index have gone up by only 3.6 per cent and 3.4 per cent, while the smallcap index is still down 5.2 per cent.

Axis Securities aid the underperformance of the Indian equities was largely attributed to mixed trend in the US policies and prolonged negotiation between US and India tariffs vs the market expectations, ) Indian currency depreciation, FII selling, delayed earnings recovery, which is still one quarter away, and lag in the reflection of fiscal and m onetary benefits to the corporate earnings

"While risk-reward is slowly building towards mid and smallcaps, recovery is expected to be gradual as we move ahead in the SAMVAT," it said.