Top 8 Nifty 100 Stocks Hitting 52-Week Highs: Discover the Winners!

Stocks Surge to 52-Week Highs Following US Fed Rate Cut

The recent cut in the benchmark interest rates by the US Federal Reserve has sent ripples of optimism through the domestic market, leading to significant gains in equity benchmarks. For the first time, the Nifty index crossed the impressive milestone of 26,000 points, while the Sensex soared past 83,750 points, marking a new high for the indices. In an exhilarating intra-day trading session, Nifty reached an astonishing peak of 25,611.95, and Sensex climbed to 83,773.61. This momentum reflects the positive sentiment among investors following the Fed’s decision to reduce rates by 0.50 percent after nearly four years, a move that is expected to stimulate economic activity.

Key Highlights of Market Performance

Amidst this market rally, eight stocks listed in the Nifty 100 have achieved their respective 52-week highs, showcasing the robust performance of the Indian equity market. Below is a table that illustrates the stocks that have reached these new heights, along with their respective price movements:

Future Prospects: Potential for More Fed Rate Cuts

The landscape of monetary policy from the US Federal Reserve remains dynamic. Following the recent rate cut, there is speculation among analysts that further reductions could be forthcoming within the year. Insights shared after the two-day meeting of Fed officials suggest that an overwhelming majority—18 out of 19—are in favor of an additional decrease of 0.50 percent. This sentiment points to the Fed’s proactive approach to managing economic challenges, and with two more meetings scheduled for 2024, investors are keenly watching for developments that could further influence market trends.

(Note: All prices mentioned are based on data from the NSE and are subject to change.)