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As Markets Rally, Nifty Stocks Titan And ICICI Hit All-Time High
In the morning rally, where BSE's Sensex and NSE's Nifty 50 reclaimed their 38,000 and 11,400 marks respectively, two large-cap stocks gained to hit their new record highs.
Shares of ICICI Bank climbed as much as 1.8 percent to hit its new all-time high of Rs 395.15 on BSE and Rs 395.45 on NSE. According to Bloomberg data, around 14.4 lakh shares changed hands in a block deal on Friday. Buyers and sellers remain unknown. It was the top gainer on Sensex as well as Nifty in morning trade.
Shares of Titan Company Ltd gained as much as 2.5 percent to touch an all-time high of Rs 1,113.80 on NSE and Rs 1,112.40 on BSE. A Bloomberg report suggests that since its Relative Strength Index was over 70, the stock may have been overbought, causing the price surge.
The Indian market stock benchmarks opened higher on Friday, following its Asian peers. While Sensex was up by as much as 38,024.95, NSE Nifty 50 rose to 11,428.05, reclaiming 11,400 level for the first time in nearly six months. The indices could be set for their longest stretch of weekly gains in over six months.
