IndusInd Bank, Eicher Motors, Bharti Airtel, 3 other heavyweights hit fresh 52-week high – what should investors know?

As many as six heavyweights from the Nifty50 pack touched their respective 52-week high on Tuesday on the back of positive sentiment in the Indian markets. The BSE Sensex is hovering around 60000-mount and Nifty50 jumped above 17900 levels intraday today.

Among the top fives gainers on Nifty50 today, IndusInd Bank jumped over 4 per cent to hit a new 52-week high of Rs 1275.8 per share, followed by Eicher Motors up almost about 4 per cent also touched hits fresh 52-week high of Rs 3723 apiece on the NSE intraday.

Similarly, Adani Ports shares gained nearly 3 per cent to hit a new 52-week high of Rs 987.85 per share on the NSE intraday today.

Bharti Airtel, ITC, and Maruti shares surged between 1-2 per cent to hit their respective 52-week highs of Rs 795.2, Rs 339.6 and Rs 9430 apiece on the NSE intraday.

The Indian markets extended the gaining streak for the second straight session on Tuesday. The surge has mainly come on multiple triggers including positive global cues, foreign investors' buying spree, a stable rupee, and softening crude oil among other factors.

Taking the driver’s seat, the Nifty Bank – one of the key constituents of Nifty – has been registering slow and gradual gains. The 12-share banking index on Tuesday is up over 1.5 per cent or 642 points to 41,546.30 at around 01:45 PM today.

Mirroring the benchmarks, the Nifty Midcap and Small cap are also trading higher by around 1.5 per cent each at around 01:45 PM.  

On the back of a positive outlook, Market expert and IIFL Securities Director Sanjiv Bhasin while speaking to Zee Business Managing Editor Anil Singhvi on Tuesday predicted that markets will soon make new highs. In a special segment ‘Bhasin Ke Hasin Share' aired on Zee Business, he predicted that Nifty50 would touch 19,000 by Diwali. Financials are in good health, he said.