49 stocks hit 52-week lows, 91 stocks at 52-week highs as stock market ends higher on Trump Tariff pause

Stock market today: On Tuesday, 91 stocks hit their 52-week high, including Bajaj Finance Ltd, Bharti Airtel Ltd, Eicher Motors Ltd, InterGlobe Aviation Ltd (Indigo), Chambal Fertilisers & Chemicals Ltd, Coromandel International Ltd, Kaveri Seed Company Ltd, Narayana Hrudayalaya Ltd, and Paradeep Phosphates Ltd.

In contrast, 49 stocks touched 52-week lows, including some notable names like Sheela Foam Ltd, Artemis Electricals and Projects Ltd, Landmark Property Development Company Ltd, and Salona Cotspin Ltd.

The Indian stock market today saw a significant surge, with the Sensex jumping by about 1,577 points to close close to 76,734, while the Nifty 50 climbed by roughly 500 points to finish at approximately 23,328.

This equated to a notable increase of over 2% for both indices, primarily driven by substantial purchases in the metal, automotive, and banking sectors.

The market's upward movement was predominantly supported by the easing of global trade tensions, particularly a tariff reprieve declared by US President Donald Trump, which enhanced investor confidence worldwide, as noted by market analysts.

Vaibhav Vidwani, a Research Analyst at Bonanza, noted that the market's upward movement was primarily driven by a reduction in global trade tensions, particularly due to a tariff relief announced by US President Donald Trump, which boosted investor confidence globally. This encouraging news aided the Indian market in bouncing back from previous concerns regarding the US-China trade disputes.

The volatility in the market significantly decreased, as shown by a nearly 19% decline in the India VIX, suggesting lower anxiety among investors.

Nifty 50 outlook

According to Rupak De, Senior Technical Analyst at LKP Securities, Nifty 50 has formed a Hanging Man pattern on the daily chart, indicating a possible pause in the current rally. On the other hand, the index closed above the 100-EMA on the daily chart, which suggests continued positivity. Additionally, the RSI has just entered a positive crossover.

“Summing it up, although the sentiment appears positive, a hint of fatigue is visible in the index following the steep rally over the past few days. Therefore, the possibility of a minor pullback on the downside cannot be ruled out. Support is placed at 23,300; a decisive break below this level could trigger a correction towards 23,000. Resistance is placed at 23,370 and 23,650,” said Rupak De.

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