Stock market today: On Thursday, 146 stocks hit their 52-week high, including Glenmark Pharmaceuticals Ltd, Krishna Institute of Medical Sciences Ltd, Laurus Labs Ltd, L&T Finance Ltd, Navin Fluorine International Ltd, SRF Ltd, UltraTech Cement Ltd, and UTI Asset Management Company Ltd.
In contrast, 49 stocks touched 52-week lows, with notable mentions like Ola Electric Mobility Ltd, Protean eGov Technologies Ltd, Axita Cotton Ltd, Dreamfolks Services Ltd, Jindal Worldwide Ltd, and Sukhjit Starch & Chemicals Ltd.
The Indian stock market ended the day in the red, with the Nifty 50 index dropping around 120 points, or 0.47%, to finish at 25,355. The market started close to 25,511 but encountered selling pressure across the session, reaching a low of 25,340.45 before closing below the previous day’s finish of 25,476.10.
As per Vaibhav Vidwani, Research Analyst at Bonanza, the decline in the market was mainly due to widespread selling across various sectors, particularly putting pressure on IT and PSU bank stocks. Even with the positive indications from the US markets, the potential for a market rise was limited by worries regarding global uncertainties, along with the continued anticipation for details on the India-US mini trade deal, which is anticipated to affect market trends but has yet to initiate a breakout above the key 25,500 resistance level.
