Indian stock market ended the week lower with BSE Sensex at 17748 and NSE Nifty at 5381. The stock markets have given very positive returns in year 2012 and traders are expecting action in coming days in mid cap and small cap space.

As the BSE Sensex has seen a good bounce, many stocks have touched 52-week high during the last trading session of the previous week.

Cement major ACC touched 52-week high of Rs 1421 on Friday. In FMCG space, Britannia touched 52-week high of Rs 501.

Energy major Cairn India touched 52-week high of Rs 373 on NSE. The stock has seen a good recovery from 52-week low of Rs 250 in August 2011.

Private Banking counters have not missed the current rally as well. Kotak Mahindra Bank has touched 52-week high of 541 on NSE. Kotak Mahindra has seen decent rise in business and the bank is doing well. However, the stock seems little overpriced currently, at the P/E multiple of 39. The bank has recently started offering higher interest rates on savings accounts. The move would lower the margin, but will help the bank increase its business volume. The similar move has been seen in another private banking counter, IndusInd bank. The stock touched 52-week high of Rs 319. Compared to Kotak Mahindra, IndusInd is having lower P/E multiple of 19.86. South Indian Bank also touched 52-week high on Friday.

Among automobile sector stocks, the star performer of the day remained Tata Motors. The stock touched 52-week high of Rs 261.90 on NSE, but closed flat compared to previous trading session.

Technical analysts are expecting more action in the market in coming days. The news flow from US and Europe will decide the direction of the market.