52-week high, 52-week low: Adani Green, HAL, among 196 BSE stocks to hit fresh highs; Uma exports at new low BSE Sensex and Nifty 50 were trading in the positive territory on Tuesday’s volatile trade on the back of buying index heavyweights such as Reliance Industries (RIL), ICICI Bank, Axis Bank, State Bank of India (SBI), among others. The 30-share index has touched a day’s high of 57,459.89, while NSE Nifty rose to day’s high of 17,275.65, so far in the trade. Stocks of NTPC hit a fresh 52-week high of Rs 165,65 apiece on Tuesday, crossing its previous high of Rs 164, touched in yesterday’s session. While no stock made a fresh 52-week low on S&P BSE Sensex. In the afternoon deals, a total of 196 stocks rose to make a new 52-week high on BSE. These include Adani Green Energy, A.F. Enterprises, Anand Rathi Wealth, AU Small Finance Bank, Cantabil Retail India, Dalmia Bharat Sugar and Industries, Deepak Fertilisers & Petrochemicals Corporation, Disha Resources, GAIL (India), Hariom Pipe Industries, IIFL Finance, JSW Steel, Magadh Sugar & Energy, Minda Corporation, Page Industries, Share India Securities, Usha Martin, Varun Beverages, Veranda Learning Solutions, and Zuari Agro Chemicals, among others hit fresh 52-week highs on BSE in Tuesday’s session. On the flip side, 11 stocks, such as Achyut Healthcare, Dhyaani Tile and Marblez, Octaware Technologies, Seacoast Shipping Services, Aditya Birla Sunlife Nifty IT ETF, and Uma Exports, among others fell to their new 52-week lows on BSE. On the contrary, Akash Infra-Projects, Goldiam International, INEOS Styrolution India, Jubilant Foodworks, Uma Exports, and others made new 52-week lows in afternoon deals on Tuesday.
However, that doesn’t take into account the fact that geopolitical tensions on the Middle East are undeniably rising again which will mean limited downside.”
In the U.S., oil drilling rigs were up by one at 501 last week, Baker Hughes said in its weekly report.JPMorgan forecasted 26 oil rigs to be added this year, most of them in the Permian during the first half of the year.
“The timing of drilling is paramount, as rig additions at the start of the year will contribute to 2H24 production growth,” the bank’s analysts said in a note.
“Despite an impressive 1 mbd of crude and condensate production growth in 2023, we expect 2024 supply to increase by only 400 kbd due to lower completions activity levels vs 2023.”