Stock market today: 59 stocks hit 52-week lows, 130 stocks at 52-week high as Nifty 50, Sensex end higher | Stock Market News

Stock market today: On Friday, 130 stocks hit their 52-week high, including Asahi India Glass Ltd, Divis Laboratories Ltd, Fortis Healthcare Ltd, Glenmark Pharmaceuticals Ltd, JM Financial Ltd, Kama Holdings Ltd, Laurus Labs Ltd, L&T Finance Ltd, Marico Ltd, Max Healthcare Institute Ltd, and Poonawalla Fincorp Ltd.

The Indian stock market concluded the day with slight advances, demonstrating a careful sense of optimism in light of current global and national events. The Sensex finished at 83,432 points, increasing by 193 points (+0.23%), while the Nifty 50 settled over 25,461.

Significant sectors such as Realty and Pharma excelled, rising by 0.9% and 0.8% correspondingly, while there was targeted purchasing in FMCG and Auto stocks.

Vaibhav Vidwani, a Research Analyst at Bonanza, noted that investor sentiment was cautious because of the uncertainties related to the approaching US tariff deadline on July 9 and regulatory actions by SEBI, which included a significant interim ban on the US quantitative firm Jane Street over alleged market manipulation.

In spite of these issues, the market remained stable above essential support levels. The India VIX was around 12.32, close to a nine-month low, reflecting low volatility and a muted risk appetite.

Additionally, Vinod Nair, who leads research at Geojit Investments, noted that the Indian market is currently at a standstill as investors employ a cautious approach while awaiting the upcoming US tariff deadline amid mixed signals from global markets.

The continued outflows from foreign institutional investors indicate a risk-averse mindset, while inflows from domestic institutional investors provide some support. After a recent surge, the major indices are sitting close to their highest valuation levels, which restricts potential for further gains, heavily reliant on the first quarter earnings and specifics regarding the trade agreement. In the mid- and small-cap sector, the market has become increasingly focused on individual stocks following the recent rebound.

Nifty 50 Outlook

According to Rupak De, Senior Technical Analyst at LKP Securities, the daily chart of the Nifty 50 shows the formation of a hammer pattern, which is generally considered a bullish reversal signal.

De believes, the key support lies at 25,300, and as long as the index remains above this level, bullish sentiment is expected to persist, with the potential for a swift rebound. On the higher side, the index could advance towards 25,800–26,100 in the near term. Immediate resistance is placed at 25,500; a breakout above this level could further strengthen the upward momentum.

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.