ICICI Bank, JSW Steel, Kotak Bank, Welspun Corp among stock that hit 52-week high today

Select largecap stocks including some benchmark constituents hit their 52-week high during the trading session on Monday as the market continued to rally for the sixth straight session. The list included names like ICICI Bank, JSW Steel, Bajaj Finance, Kotak Mahindra Bank among others.

Besides the leading name, other well-known counters including AstraZeneca Pharma, Shree Cements, Welspun Corporation, Chambal Fertilisers and Chemicals, JSW Holdings, Aavas Financiers, Swaraj Engines, MPS, Bharat Seats, Asian Hotels (North), AB Infrabuild, AGI Infra and others also test their 52-week highs for the day.

BSE's barometer Sensex surged more than 1,200 points, or 1.56 per cent to hit 78,107.23, while NSE's Nifty50 index rallied nearly 360 points, or 1.3 per cent to 23,708.75. Broader market gauges- BSE midcap and smallcap indices- were up 1.5-2 per cent each during the day.

The FII selling intensity has reduced over the past few days aided also by the rebalancing led flows. Global macro cues too have become largely supportive with the Dollar Index, Brent crude oil and US 10-year yield all correcting from their recent highs, said SBI Securities.

"The approval of the fiscal stimulus by the German parliament has also revived hopes of economic recovery in Europe. News reports also suggest that the Apr 2 reciprocal tariffs likely to be imposed by the USA on its major trading partners including India could be less widespread than previously anticipated," it said.

The fall in the dollar index, eased down crude oil prices, waning selling pressure from FIIs, dovish tone of the US Federal Reserve and recovery in the Indian rupee bolstered the sentiments investor sentiment at Dalal Street. A rise in US index futures also hinted at a firm start at Wall Street later today.

The last week of March 2025 will be significant for market sentiment, with key economic data releases providing insights into growth, inflation, and employment trends, said Bajaj Broking Research. "With inflation, growth, and employment data in focus, markets could see volatility, impacting sectors like banking, housing, and consumer goods," it said.

The undertone of the market is that bullish investors have to be careful. April 2nd- the reciprocal tariffs day- is looming large and the uncertainty surrounding that is huge, said DR VK Vijayakumar, Chief Investment Strategist, Geojit Investment Services. "Investors can wait for clarity to emerge regarding the reciprocal tariffs before taking a call on further investment," he cautioned.