Stock market today: 130 stocks hit 52-week lows, 175 stocks at 52-week high as Nifty 50, Sensex end in green

Stock market today: On Tuesday, 175 stocks hit their 52-week highs, including Aditya Birla Capital Ltd, Aster DM Healthcare Ltd, Canara Bank, Hero MotoCorp Ltd, Hindustan Copper Ltd, Hindustan Petroleum Corporation Ltd (HPCL), Muthoot Finance Ltd, NLC India Ltd, FSN E-Commerce Ventures Ltd, Schaeffler India Ltd, and UNO Minda Ltd.

In contrast, 130 stocks touched 52-week lows, with notable mentions Clean Science and Technology Ltd, Happiest Minds Technologies Ltd, Gujarat Toolroom Ltd, Jaro Institute of Technology Management and Research Ltd, and Epack Prefab Technologies Ltd.

Indian equities ended the day on a positive note, extending their recent upward trend despite experiencing notable intraday volatility. The Nifty 50 closed around the 25,108 mark, while the Sensex gained over 137 points, finishing near 81,926 levels. This volatility was attributed to the ongoing struggle between favourable domestic factors and cautious investor sentiment as the quarterly earnings season approaches, according to market experts.

Major stocks supporting the move included ICICI Bank, Bajaj Finance, HCL Technologies, and Bharti Airtel. On the other hand, some large stocks like Tata Motors, Axis Bank, TCS, and Infosys saw profit booking, which kept gains in check.

Abhinav Tiwari, Research Analyst at Bonanza, noted that key takeaways emphasize cautious optimism as sustained inflows from domestic institutional investors (DIIs) and improving corporate performance come into play. Investors are closely monitoring the upcoming Q2 results. While some volatility may arise from profit booking in certain sectors, the overall trend suggests a steady recovery powered by robust domestic demand, favourable government policies, and positive global cues.

Tiwari advised investors to concentrate on sectoral themes such as IT, private banks, and consumption plays, while also managing risks associated with external uncertainties.

(more to come)

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