Thursday, November 23, 2023

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Over 50%, or 27, of the #nifty50 stocks hit a 52-week high in the past month, with 16 of them at a record high. Meanwhile, Nifty is just 1 percent higher during this period.

Additionally, 21 stocks on the Nifty 50 are 5 percent to 14 percent short of their 52-week highs. And, while none of the stocks is near a record low, UPL Ltd. and HDFC Bank are about 6 percent and 4 percent, respectively, away from their 52-week lows.

The market’s attention is now on individual stocks, signalling substantial sectoral changes in the PSU, IT, metals, power, oil, and healthcare sectors, according to analysts. IT and healthcare, which didn’t actively participate in the recent rally that started in April, are garnering interest due to attractive valuations.

Individual stocks are moving differently due to their own triggers and concerns, depending on sectoral or company-specific factors.

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