Stock market today: On Thursday, 122 stocks hit their 52-week high, including Anupam Rasayan India Ltd, Apollo Hospitals Enterprise Ltd, Craftsman Automation Ltd, Delhivery Ltd, Eternal Ltd, Fortis Healthcare Ltd, HBL Engineering Ltd, Hyundai Motor India Ltd, InterGlobe Aviation Ltd, Mahindra & Mahindra Ltd, Muthoot Finance Ltd, Sai Life Sciences Ltd, TVS Motor Company Ltd, and Vishal Mega Mart Ltd.
In contrast, 106 stocks touched 52-week lows, with notable mentions like Bata India Ltd, Cohance Lifesciences Ltd, Colgate Palmolive (India) Ltd, HFCL Ltd, and Jindal Saw Ltd.
Indian equity markets concluded the final trading session ahead of the Independence Day holiday with slight increases, reflecting resilience in the face of mixed global signals and pre-holiday caution.
The Sensex finished higher by 110 points (0.14%) at 80,649, while the Nifty 50 rose by 30 points (0.12%) to end at 24,649, marking the second consecutive day of positive closing and successfully ending a six-week decline.
Vinod Nair, the Head of Research at Geojit Investments, stated that after a week of fluctuating trading on expiry day, Indian equities closed unchanged as investors remained cautious in anticipation of the US-Russia summit. IT and pharmaceutical stocks increased due to softer US inflation data and a dovish outlook.
Gains were also noted in banking and consumer durable sectors as optimism grew regarding a recovery driven by consumption. Conversely, the metals and energy sectors showed weakness attributed to declining commodity prices and concerns over oversupply.
S&P’s upgrade of India’s credit rating, along with its stable outlook which highlights strong policy continuity and growth led by infrastructure, is likely to bolster the domestic market. In the short term, the market is anticipated to trade within a narrow range with a mixed sentiment as it looks ahead to forthcoming geopolitical discussions, according to Vinod Nair of Geojit Investments.
Nifty 50 Outlook
According to Rupak De, Senior Technical Analyst at LKP Securities, Nifty 50 witnessed a lackluster trading session, remaining range-bound ahead of the Trump–Putin meeting on Friday. The overall sentiment is likely to favour bullish trades as long as the index holds above 24,337. On the higher side, resistance is placed at 24,660 and 24,850, while a fall below 24,337 could trigger a resumption of the bearish trend.
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