Stock market today: 122 stocks hit 52-week highs, 48 stocks at 52-week lows as Sensex, Nifty 50 end flat | Stock Market News
Stock market today: On Monday, 122 stocks hit their 52-week high, including Bharti Hexacom Ltd, GlaxoSmithKline Pharmaceuticals Ltd, Indian Bank, Max Financial Services Ltd, Welspun Corp Ltd, Intellect Design Arena Ltd, City Union Bank Ltd, CCL Products (India) Ltd, AstraZeneca Pharma India Ltd, and Authum Investment & Infrastructure Ltd.
In contrast, 48 stocks touched 52-week lows, with notable mentions like National Standard (India) Ltd, Signpost India Ltd, Belrise Industries Ltd, NIIT Learning Systems Ltd, and Jai Balaji Industries Ltd.
The Indian stock market experienced a turbulent session, ultimately finishing slightly lower. The Sensex closed at 81,374, down by 77 points (0.09%), while the Nifty 50 ended at 24,717, down by 34 points (0.14%).
The day was marked by significant fluctuations as the markets initially experienced a sharp decline due to concerns stemming from US President Donald Trump’s recent announcement of new 50% tariffs on steel imports, which intensified fears of global trade conflicts.
Other contributing factors to the market volatility included renewed tensions from the Russia-Ukraine conflict, a rise in Covid-19 cases in India, and anxiety ahead of the Reserve Bank of India’s forthcoming monetary policy announcement, according to experts.
Vinod Nair, who heads research at Geojit Investments, commented that despite global uncertainties prompting investors to be more cautious, the Indian market has shown resilience, bolstered by strong institutional investments and selective strengths in sectors such as FMCG, real estate, and financial stocks.
Favourable domestic macroeconomic indicators include the possibility of an RBI rate reduction, an improved monsoon, Q4 GDP data, and increased GST collections. In the current market environment, investors are taking a careful short-term approach, concentrating on sectors that are domestically oriented and sensitive to interest rates.
Nifty 50 Outlook
According to Vatsal Bhuva, Technical Analyst at LKP Securities, Nifty 50 continues to hover in a narrow band between 24,500 and 25,000, indicating a phase of consolidation.
Despite a gap-down start on Monday, it managed to close above its 20-day EMA, showing some buying interest at lower levels. However, the RSI’s negative divergence and bearish crossover reflect weak momentum. Immediate support is placed at 23,630 where its 20 days EMA is placed, while positional support lies at 24,500–24,550. Resistance levels are marked at 24,860 and 25,070. The trend remains sideways with a slight negative bias unless a range breakout occurs.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
