Stock market today: 89 stocks hit 52-week highs, 26 stocks at 52-week lows as Sensex, Nifty 50 end lower

Stock market today: On Tuesday, 89 stocks hit their 52-week high, including APL Apollo Tubes Ltd, Bharat Dynamics Ltd, CCL Products (India) Ltd, Eris Lifesciences Ltd, and Maharashtra Scooters Ltd.

In contrast, 26 stocks touched 52-week lows, with notable mentions like Chembond Chemicals Ltd, Containe Technologies Ltd, KK Shah Hospitals Ltd, and Mach Conferences And Events Ltd.

The domestic benchmark indices, Nifty 50 and Sensex, experienced volatility and halted a two-day uptrend, as investors chose to lock in profits amid valuation apprehensions and declines in Asian markets, as per experts. The benchmark index once again struggled to convincingly surpass the 25k resistance level, indicating a lack of positive catalysts.

Market analysts are also of the opinion that increasing US Treasury yields and poor global indicators, doubts surrounding US-EU trade discussions—where President Trump postponed tariff deadlines to July 9—significantly impacted investor confidence.

Sensex tumbled 624.82 points to settle at 81,551.63; Nifty 50 dropped 174.95 points to 24,826.20.

Vinod Nair, Head of Research at Geojit Investments, stated that large-cap stocks lagged behind due to low foreign institutional investor activity and disappointing earnings reports from major companies. In contrast, the mid- and small-cap sectors showed more strength, bolstered by Q4 earnings that surpassed expectations and a reduction in high valuations.

Nifty 50 Outlook

According to Rupak De, Senior Technical Analyst at LKP Securities, the Nifty 50 has been consolidating for the past 10–11 days, setting an indecisive tone among investors. However, the overall trend remains strong as the index continues to sustain above the short-term moving average.

The RSI is showing signs of fatigue and is turning downward, indicating waning bullish momentum. The short-term outlook remains positive, with the potential to reach the 25,000–25,150 range. On the lower end, support is placed at 24,700.

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.