Stock market today: 43 stocks hit 52-week lows, 178 stocks at 52-week high as Nifty 50, Sensex end higher

Stock market today: On Monday, 119 stocks hit their 52-week high, including APL Apollo Tubes Ltd, AU Small Finance Bank Ltd, Bajaj Finance Ltd, Bank of India, HDFC Asset Management Company Ltd, InterGlobe Aviation Ltd, Muthoot Finance Ltd, SBI Cards and Payment Services Ltd, and SRF Ltd.

In contrast, 43 stocks touched 52-week lows, with notable mentions like Axita Cotton Ltd, Gujarat Lease Financing Ltd, Naksh Precious Metals Ltd, Uma Exports Ltd, and United Drilling Tools Ltd.

Indian stocks extended their gains on Monday, buoyed by substantial monetary policy actions from the central bank and indications of advancement in US tariff discussions with its main trading partners. The Nifty 50 increased by 0.4% to reach 25,103.2, marking an eight-month peak, while the Sensex climbed by 0.31% to 82,445.21.

The positive momentum in US-India trade negotiations also encouraged investors, as both nations aim to reach an agreement on tariff reductions before the July 9 deadline, according to Indian government sources cited in media reports.

Renewed optimism surrounding global trade has sparked another surge of purchasing in Indian stocks, as noted by analysts.

Vinod Nair, who leads Research at Geojit Investments, noted that financial stocks in Indian markets continued their upward trend, supported by the RBI’s proactive policies of interest rate and CRRA reductions. These measures have increased investor confidence and are anticipated to improve liquidity in the near to medium term, particularly among midcap stocks.

Positive employment data from the US and a revival of hope regarding US-China trade negotiations have boosted global market sentiment. On the domestic front, even large-cap stocks have shown renewed strength, primarily driven by foreign institutional investors' inflows.

Nifty 50 Outlook

According to Rupak De, Senior Technical Analyst at LKP Securities, the Nifty 50 has finally broken out of its prolonged consolidation on the daily timeframe. Market sentiment appears positive, with the index sustaining well above the crucial 50-day moving average (50DMA).

A golden crossover on the daily chart has been a support the bullish sentiment. Following the breakout, a rise towards 25,350 looks likely. A decisive move above this level could trigger a rally towards 25,700. On the downside, support is placed at 24,850; a breach below this level may lead to a shift in sentiment.

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.