ITC hits 52-week high as Future group stocks sink to fresh lows in broad market rally
On Sept 5, 2022, ITC touched a 52-week high of Rs 327.70, topping its prior peak of Rs 324.20, as 200 BSE stocks marked new highs. Future Retail, Future Enterprises and Future Lifestyle Fashions slid to 52-week lows amid the rally that lifted Sensex to 59,294 and Nifty to 17,678.30.
On Sept 5, 2022, ITC hit a fresh 52-week high while Future Retail, Future Enterprises and Future Lifestyle Fashions sank to 52-week lows amid a broad market rally lifting several consumer and retail-linked stocks.
Why this matters
ITC's fresh 52-week high extends a run of signals contrasting its strength against Future Group's collapse, with the trio repeatedly hitting new lows as ITC tops Rs 324.20 and Rs 327.70.
Retail-company signals are accelerating, up 479000% QoQ.