2 Stocks That Touched 52-Week High Despite Market Carnage

Amid the bloodbath in stock markets in India, which caused the benchmark indices to hit lower circuits of 10 percent and a 45-minute trading halt, 2 stocks gained, though not significantly, to new 52-week highs.

1. Ruchi Soya Industries Ltd

The edible oil manufacturer and subsidiary of Patanjali Ayurved hit an upper circuit of 4.97 percent. Shares of the company touched a high of Rs 96.05 each.

2. Bafna Pharmaceuticals Ltd

The Chennai-based manufacturer of pharmaceutical formulations rose for another day by 4.76 percent to a 52-week high of Rs 6.60 per share on NSE.
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Mass sell-off by foreign investors caused Nifty 50 and Sensex to plunge 7.6 percent and 8 percent in opening trade to 30,281 and 8,821, respectively. In the afternoon session, the indices have recovered but volatility remains.

The decline was primarily due to the poor sentiment in the Asian as well as US markets due to panic over the spread of coronavirus across continents. Dow Jones Industrial Average posted its largest one-day percentage drop since 1987 on Thursday.

All sectoral indices fell in morning trade before showing recovery.