Stock market today: 117 stocks hit 52-week highs, 131 stocks at 52-week low as Nifty 50, Sensex end in red

Stock market today: On Wednesday, 117 stocks hit their 52-week high, including Authum Investment & Infrastructure Ltd, Delhivery Ltd, Godfrey Phillips India Ltd, Nuvoco Vistas Corporation Ltd, Sarda Energy & Minerals Ltd, Schneider Electric Infrastructure Ltd, TVS Motor Company Ltd, and Vishal Mega Mart Ltd.

In contrast, 131 stocks touched 52-week lows, with notable mentions like Five-Star Business Finance Ltd, Easy Trip Planners Ltd, Gokaldas Exports Ltd, PDS Ltd, Quess Corp Ltd, and Spicejet Ltd.

Today, Indian stock markets ended in the red, with the Sensex dropping by 166 points (0.21%) to finish at 80,544, while the Nifty 50 decreased by 79 points (0.32%) to end just below 24,600 at 24,574.

This session marked the second consecutive day of declines for the benchmark indices, as investor sentiment remained cautious due to a mix of domestic and international factors. The main driver behind Wednesday's negative close was President Trump's heightened tariff threats directed at India.

The Reserve Bank of India's decision to keep the repo rate steady at 5.5% also led to a level of caution in the markets. Although this decision was anticipated, the absence of any additional monetary easing left some market players disappointed who were hoping for more policy support.

RBI Governor Sanjay Malhotra recognised the challenges in forecasting the effects of possible US tariffs, saying, "there remains considerable uncertainty" concerning their economic consequences.

Vaibhav Vidwani, a Research Analyst at Bonanza, noted that the selloff was widespread, with nearly all sectoral indices closing in the negative. The IT, pharma, and real estate sectors each declined by more than 1%, while the auto, energy, FMCG, and metal sectors also experienced losses. The Nifty IT index fell by over 500 points, indicating worries about possible effects on technology exports to the US.

Only the banking and PSU bank indices displayed some strength, recording slight gains. Looking ahead, the markets will keenly observe the progress of trade discussions between India and the US, as well as any tangible actions regarding tariffs. The RBI's cautious outlook on global uncertainties, along with its decision to maintain the 6.5% GDP growth estimate for FY26, implies that policymakers are vigilant about changing external risks.

According to Rupak De, Senior Technical Analyst at LKP Securities, Nifty 50 remained bearish throughout the day as the index stayed under selling pressure, holding below the 50EMA throughout the session. The RSI continued to display a bearish crossover on both the daily and hourly charts. In addition, a lower-top, lower-bottom formation has developed on the hourly chart, indicating a weakening trend.

The index is likely to remain a “sell on rise” as long as it stays below 24,850. In the short term, the index may trend downwards towards 24,400, which is expected to act as a crucial support level on a sustained or closing basis. If Nifty 50 sustains below 24,400, it is likely to witness a more serious correction.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.

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