Stock market today: 43 stocks hit 52-week lows, 108 stocks at 52-week high as Nifty 50, Sensex end in green

Stock market today: On Monday, 108 stocks hit their 52-week high, including Aditya Birla Capital Ltd, Authum Investment & Infrastructure Ltd, Anupam Rasayan India Ltd, Bharat Electronics Ltd, Bharti Airtel Ltd, Hyundai Motor India Ltd, Lloyds Metals and Energy Ltd, L&T Finance Ltd, Multi Commodity Exchange of India Ltd, Narayana Hrudayalaya Ltd, and Poonawalla Fincorp Ltd.

In contrast, 43 stocks touched 52-week lows, with notable mentions like Aditya Birla Lifestyle Brands Ltd, Siemens Energy India Ltd, Orient Cement Ltd, Protean eGov Technologies Ltd, Alacrity Securities Ltd, Bharat Global Developers Ltd, Jindal Drilling & Industries Ltd, Vikram Kamats Hospitality Ltd, and National Standard (India) Ltd.

Today, the Indian stock market ended on a positive trend, with the Nifty 50 increasing by around 0.29% to reach 25,044, while the Sensex rose by over 158 points, showcasing strong investor confidence.

The primary catalyst for this increase was the announcement of a ceasefire agreement between Iran and Israel, facilitated by the US, which considerably reduced geopolitical tensions and resulted in a notable drop in crude oil prices.

Vaibhav Vidwani, a Research Analyst at Bonanza, noted that this occurrence enhanced global risk appetite, which was reflected in the Indian markets, where gains were widespread across sectors such as financials, metals, automobiles, FMCG, and IT.

However, following the ceasefire agreement, instances of violations led to selling pressure in the market, impacting investor confidence, but overall, the market ended positively.

“Although the market attempted to break out of its recent consolidation range, persistent global risks continue to impede momentum. Going forward, the sustainability of an uptrend will hinge on the strength of domestic earnings, with optimism surrounding the upcoming Q1 results supported by favourable domestic macroeconomics,” added Vinod Nair, Head of Research, Geojit Investments.

Nifty 50 Outlook

According to Rupak De, Senior Technical Analyst at LKP Securities, Nifty 50 remained highly volatile as updates from the Middle East crisis zone impacted Indian equities. However, the overall sentiment remains positive, with a possibility of a rise towards 25,350. Immediate support is placed at 25,000; a break below this level could lead to a drift towards 24,850. On the other hand, if the index holds above 25,000, strength may persist, and the sentiment could favour long traders.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.