Balaji Amines, Aequs, Nykaa, Sun Pharma among 70 stocks at 52-week highs in weak market; check full list

The Indian equity benchmark indices were trading in red on Wednesday, July 8, as investors turned cautious after geopolitical tensions resurfaced in West Asia, sending crude oil prices higher.

Crude oil prices in the global market surged more than 3% intraday to over $76 per barrel (bbl) during the trading session on Wednesday after the United States carried out targeted retaliation air strikes on 80 locations in Iran in response to the West Asian country allegedly violating the ceasefire agreement.

Furthermore, the rising demand for the US dollar in the market due to the heightened geopolitical sentiment has, in turn, weighed down on gold prices as well. Traders are less likely to purchase gold at higher dollar prices to avoid getting lower quantities of the precious metal.

The S&P BSE SENSEX fell as much as 0.87% to hit an intraday low of 77,498.70, while the NSE’s NIFTY50 touched a day’s low of 24,189.20.

Except for realty, metal and consumer durables, all the other sectoral indices were trading lower, while the NIFTY Midcap 100 and NIFTY Smallcap 100 gauges were down 0.12% and 0.18%, respectively.

In the afternoon session, as many as 3,233 stocks traded on the NSE on Wednesday. Out of this, 1,353 advanced, and 1,785 declined, while 95 scrips remained unchanged. This indicated that the market breadth was in favour of declines.

A total of 70 stocks hit their 52-week highs, while 29 stocks touched their one-year lows. Besides, 66 stocks hit their upper circuit limits, and 59 touched their lower circuit bands at the time of writing the article.

Here are top 10 stocks that hit 52-week high on NSE

Among the other major stocks that hit a 52-week high include Teja Engineering Industries, The Jammu & Kashmir Bank, Ather Energy, Nykaa parent firm FSN E-Commerce Ventures, Cupid, Sona BLW Precision Forgings, Zydus Lifesciences, Torrent Pharmaceuticals and Lupin.

Shares of Sun Pharmaceutical Industries, RateGain Travel Technologies, India Tourism Development Corporation (ITDC) and VA Tech Wabag were also on the list.