The National Stock Exchange (NSE) benchmark NIFTY 50 index opened on a flat note to positive bias on Thursday’s trading session. In its ongoing trading session, it kissed a level of 11,179.60 levels in intra-day trade. However, the NSE Mid-cap index is still down 15.30 percent from its peak and the Small-cap index down 24.95 percent.
The reason behind this is purely technical in nature and not related to deterioration in earnings. Since the combination of regulatory changes in the way the mutual funds classify their schemes and higher margins put by the exchanges on stocks saw stocks in small and mid-cap space cooling off.
Nevertheless, if we see the number of stocks of companies that hit their 52-week high of today is around 18 in NIFTY 50 such as Bata India, Cigniti Technologies, Gangotri Textiles, Havells, Indiabulls, NIIT technologies, RITES Ltd, and among others.
Indiabulls Ventures also succeed to hits its 52-week high yesterday and now hits again. This could be a relieving moment for Indiabulls Ventures’ investors who are invested with it.