On Tuesday, more than 91 stocks surged to 52-week highs, even as the benchmark indices displayed a subdued performance. The NIFTY50 traded at the 24,295 level, down by 0.21%, while the Sensex settled at 79,464, declining by 0.23%. The Nifty Bank index was particularly weak, down 0.63% at 50,260. Meanwhile, the India VIX, the fear gauge, eased to 15.75 levels, indicating a slight reduction in market volatility.
Despite the declines in the benchmark indices, the broader markets traded in positive territory. The Nifty Midcap 100 index rose by 0.14%, and the Nifty Smallcap 100 index gained marginally by 0.03%. Sectorally, performance was mixed, with Nifty Consumer Durable, IT, and Healthcare leading the gains, while Banks and Financial Services were the laggards.
Among the top performers, Inox Wind Ltd reached a 52-week high at ₹236.95, soaring 13.6% after posting record Q1FY25 earnings. Suzlon Energy Ltd also hit a new peak at ₹84.29, rising 4.9% following its acquisition of a stake in Renom Energy. Meanwhile, Gujarat Pipavav Port Ltd (GPPL) surged 7% to a 52-week high of ₹246.5, driven by strong Q1FY25 results and increased FII interest.
These stocks showcased significant momentum, reflecting investor optimism in specific sectors despite broader market challenges.
