The Indian stock market seems caught in a tight range, with most stocks trading below their 52-week highs. Investor sentiment remains cautious amid lacklustre earnings, stretched valuations, and lingering concerns over a potential trade war sparked by US President Donald Trump’s tariff-driven policies.
Data reveals that 243 stocks in the Nifty 500 index have dropped over 20 per cent from their 52-week highs, with eight of them plunging more than 50 per cent from their one-year peaks.
The Nifty 500 index has gained nearly 2 per cent over the last year, in sync with the benchmark Nifty 50, which has also risen by 2 per cent in the same period.
The Indian stock market has remained subdued for nearly two months, with the benchmark Nifty 50 moving within a narrow range due to the absence of fresh positive triggers. The index is just 2 per cent up over the last year.
Despite earlier expectations of a new high, the Nifty 50 has slipped nearly 3 per cent from its June 30 level of 25,669. This decline puts it further away from its all-time high of 26,277, which was last touched on September 27, 2023.
Stocks that are down over 50% from their 52-week highs
According to Capitalmarket data, Ola Electric, Raymond Lifestyle, Sterling and Wilson Renewable Energy, Tejas Networks, Vodafone Idea, Akums Drugs, HFCL, and Adani Green are the eight stocks that have crashed more than 50 per cent from their 52-week highs as of Friday, July 18, close.
On the other hand, Route Mobile, MMTC, Honasa Consumer, Vedant Fashions, UCO Bank, ITI, Titagarh Rail, IOB, Jupiter Wagons, and IREDA were among the 39 stocks that crashed between 40-50 per cent from their one-year highs.
Similarly, Ramkrishna Forgings, Deepak Nitrite, REC, MRPL, SJVN, Tata Tech, Inox Wind, Swiggy, IRFC, Just Dial, Trent, Adani Energy, Bajaj Housing, Hindustan Zinc, Bajaj Auto, JSW Energy, Torrent Power, Cochin Shipyard, Exide Industries, Tata Elxsi, Piramal Pharma, Bharat Forge, Adani Total Gas, TCS, and Alok Industries are among the 72 stocks that have plunged 30-40 per cent from their 52-week highs.
Indian stock market outlook
The medium to long-term outlook of the domestic market remains positive due to a favourable growth-inflation outlook, better-than-expected monsoon, and a strong influx of retail investors.
The single most worry for the Indian stock market is the delay in the successful signing of a trade agreement with the US. Otherwise, the domestic economic scenario remains strong- GDP growth above 6 per cent, healthy monsoon, low inflation regime, over 15 per cent decline in crude oil prices from their 52-week highs, and anticipation of continued reversal of interest rate, augur well for the domestic market,” said G. Chokkalingam, the founder and the head of research, at Equinomics Research Private Limited.
Read all market-related news here
Read more stories by Nishant Kumar
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
