Shares of a logistics solution provider hit a fresh 52-week high even as the market trades lower, as investors remain cautious ahead of India's upcoming trade deal with the US. However, both the benchmark indices, Sensex and Nifty, started the session in the green. While the 30-share BSE Sensex jumped 67.34 points to 83,306.81 in opening trade, the 50-share NSE Nifty was up by 23.55 points to 25,428.85. Later, both the key indices faced volatile trends and were trading flat. The BSE benchmark quoted 13.55 points down at 83,221.65, and the Nifty traded 4.15 points lower at 25,400.40.
Stock Hits 52-Week High
The company under concern here is Sindhu Trade Links. The BSE smallcap company started the session at Rs 30.18 against the previous close of Rs 29.95. The counter jumped further amid heavy trade volume and hit a high of Rs 35.25 - a gain of 17.7 per cent from the closing price of the last trading session. The counter has been gaining for the last two days and has risen 24.05 per cent in the period.
Technically, the stock trades higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages. At the time of writing the reports, 31.01 lakh shares of the company had exchanged hands. This is higher than the two-week average of 3.37 lakh.
Relative Strength Index
The stock's 14-day relative strength index (RSI) is 70.74. For the uninitiated, a level above 70 is considered overbought or overvalued, and below 30 is defined as oversold or undervalued.
Global Stock Markets Today
In Asian markets, Japan's Nikkei 225 index and Shanghai's SSE Composite index were trading higher, while South Korea's Kospi and Hong Kong's Hang Seng quoted lower.
The US markets ended in positive territory on Thursday. The global oil benchmark Brent crude dropped 0.42 per cent to USD 68.51 per barrel.
Meanwhile, Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,481.19 crore on Thursday, according to data from the exchange. DIIs bought stocks worth Rs 1,333.06 crore.
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
