Stock market today: On Wednesday, 61 stocks hit their 52-week high, including Aster DM Healthcare Ltd, Anupam Rasayan India Ltd, Bharti Airtel Ltd, Ceat Ltd, Marico Ltd, Radico Khaitan Ltd, and SRF Ltd.
In contrast, 138 stocks touched 52-week lows, including some notable names like Embassy Developments Ltd, Orient Green Power Company Ltd, Hatsun Agro Product Ltd, Jai Balaji Industries Ltd, Vedant Fashions Ltd, Praj Industries Ltd, Syngene International Ltd, and Vakrangee Ltd.
The Indian equity market finished with a slight gain, as the Nifty 50 closed at 24,414.4, rising by 34.8 points (0.14%) compared to the previous close, while the Sensex remained near 80,746. In spite of a tumultuous trading session influenced by geopolitical issues stemming from India’s precision strikes in “Operation Sindoor” targeting terrorist camps in Pakistan, the markets displayed strength.
Analysts observed that the market’s gains were mainly fueled by investor trust in the non-escalatory character of the military engagement and a reduction in global tariff tensions, which alleviated initial concerns.
Vinod Nair, Head of Research at Geojit Investments Limited, noted that Indian equity markets displayed notable resilience despite the recent tensions at the Indo-Pak border, with the market’s measured response suggesting that geopolitical risks have largely been factored in and investors maintain expectations for de-escalation.
Nair stated that additionally, advancements in the India-UK Free Trade Agreement have further lifted investor sentiment, leading to gains in key sectors like textiles, automobiles, and information technology. On a global scale, investor confidence has improved as both the United States and China show a readiness to reopen trade discussions. Furthermore, China’s recent interest rate reduction added to a generally positive atmosphere across Asian markets. Attention will now turn to the upcoming FOMC meeting; while a rate cut is not anticipated, the comments from the Federal Reserve will be closely monitored.
Nifty 50 Outlook
Rupak De, Senior Technical Analyst at LKP Securities said that the index continues to consolidate within a narrow range, having failed to move past the 61.80% retracement level of the previous decline from the all-time high of 26,277 to the recent low of 21,743.
“This consolidation may persist in the near term, as the index appears to be in no hurry to make a decisive move beyond the 24,000–24,550 range. A decisive breakout above 24,550 could potentially trigger a rally toward higher levels. On the downside, immediate support is placed at 24,200; a break below this level may extend the correction toward 24,000,” said De.
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