Money on the markets

A maturing market amid the mayhem

100 stocks hit 52-week high on BSE

July 31, 2009

graphsensexxThe Sensex closed at 15,670 on Friday, the highest since mid June 2008, while the Nifty index closed at tad below 4,650, a mark closely watched by market participants.

Optimism has swept investors around the globe with good corporate results raising hopes that the worst of the financial crisis might be over.

In India, 82 percent of companies covered by a study by the ET Intelligence Group reported net profits compared with 70-72 percent in the previous three quarters.

As the market rallied on Friday, as many as 100 stocks on the Bombay Stock Exchange touched their 52-week highs. The list included some top companies like Bajaj Auto, BHEL, Infosys, Maruti Suzuki, Tata Power and ITC.

These stocks have rewarded investors well in the recent past.

BHEL shares have returned 63 percent this year whereas Infosys has gained a whopping 84 percent over the same period, data from Thomson Reuters shows.

With the stock market and individual stocks posting highs, do you think the worst is over and investors should now set aside more funds for stocks?

Comments

Wow..100 stocks in a single day.. are the bulls back??!!

Posted by Rosa | Report as abusive
 

The worst may be over, but the best is a long way off. The sensex will probably swing between 15000 and 12000 for some time. Meanwhile investors can do some research and short-list the stocks they would like to invest in.

Posted by Alluri | Report as abusive
 

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