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Stock market today: On Monday, 78 stocks hit their 52-week high, including Navin Fluorine International, Max Financial Services, Godfrey Phillips India, Force Motors, and Anupam Rasayan India.

In contrast, 63 stocks touched 52-week lows, including some notable names like Dr. Agarwals Health Care, Quick Heal Technologies, Hilton Metal Forging, TGB Banquets and Hotels, and Network People Services Technologies.

The key domestic indices, Nifty 50 and Sensex, saw an increase on Monday, supported by ongoing foreign investment alongside expectations of a US trade agreement, while a decrease in oil prices benefitted energy stocks. The Nifty 50 finished the day up 0.47% at 24,461.15, and the Sensex rose 0.37% to 80,796.84.

Analysts pointed out that the markets kicked off the week on a solid note, driven by consistent foreign inflows and positive sentiment regarding a potential India-US trade deal.

The gains were widespread, with small- and mid-cap stocks performing better and the majority of sectors closing in positive territory. Strength in Asian currencies and a reduction in global trade tensions contributed to the optimistic mood, even as some international markets experienced lower activity due to holidays.

Vikram Kasat, Head of Advisory at PL Capital, mentioned that the upward trend was somewhat subdued by the decline in certain banking stocks—Kotak Mahindra Bank experienced a significant drop after an increase in provisions impacted its quarterly performance, even with strong loan growth. At the same time, the decrease in crude prices falling below crucial support levels following the OPEC+ production decision could provide some relief regarding inflation; however, it also suggests weaker global demand.

According to Vatsal Bhuva, Technical Analyst at LKP Securities, Nifty 50 index continues to trade within a narrow range of 24,200 to 25,500, with firm support at the 24,200–24,250 zone and resistance around 24,500–24,550.

While a decisive breakout above 24,550 could spark bullish momentum towards 25,000, Monday’s small-bodied candlestick suggests that short-term consolidation may persist.

“The index is holding above its rising 10-day EMA, reflecting a positive near-term trend. With the RSI in a bullish crossover, underlying strength remains intact. The outlook stays bullish as long as Nifty 50 sustains above 24,200, though a strong close above 24,550 is essential for confirmation,” said Bhuva.

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

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