Stock market today: 30 stocks hit 52-week lows, 76 stocks at 52-week highs despite Sensex, Nifty 50 falling 1.5%

Stock market today: On Tuesday, 76 stocks hit their 52-week high, including APL Apollo Tubes Ltd, Aster DM Healthcare Ltd, Bharti Hexacom Ltd, Dalmia Bharat Ltd, City Union Bank Ltd, Godfrey Phillips India Ltd, and Redington Ltd.

In contrast, 30 stocks touched 52-week lows, Century Enka Ltd, KBC Global Ltd, Last Mile Enterprises Ltd, and Swiggy Ltd.

The Indian stock market experienced a significant decline today, following an impressive rise in the previous session. The Sensex decreased by roughly 1,282 points (around 1.5%), finishing close to 81,148, while the Nifty 50 slipped by about 346 points (-1.39%) to close at 24,578.

Major players like Infosys fell by more than 3%, contributing to a drop of over 2.42% in the IT index, while the financial and FMCG sectors also faced considerable setbacks.

Analysts suggest that the decline was mainly caused by profit-taking and cautious investor sentiment after the significant increase, along with worries about mixed results from corporate earnings and global influences.

Vinod Nair, the Head of Research at Geojit Investments, mentioned that the domestic market experienced profit-taking today after a significant rise yesterday. The surge driven by relief from decreasing global and domestic risks, such as reduced trade war tensions and eased Indo-Pak geopolitical issues, seems to be slowing down.

According to Nair, this consolidation mainly impacts large-cap stocks, while mid- and small-cap shares continue to gain momentum. It is anticipated that this trend will continue, bolstered by widespread improvements in earnings as seen in the Q4 results thus far. Looking forward, there is growing optimism regarding earnings growth for FY26, supported by favorable fiscal and monetary policies, a recovery in external demand, a positive monsoon outlook, and falling inflation and interest rates.

Nifty 50 Outlook

According to Rupak De, Senior Technical Analyst at LKP Securities, the index slipped lower as traders booked short-term profits. However, sentiment is likely to remain positive in the near term, despite some profit-taking following the recent sharp rise.

“Nifty 50 continues to trade above the short-term moving average, confirming a bullish trend. Additionally, it has been sustaining above the previous consolidation zone. In the short term, the index may continue its upward movement with the potential to reach 25,350. On the downside, support is placed at 24,400. A buy-on-dips strategy may be favourable as long as the index remains above this level,” said De.

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