Stock market today: 176 stocks hit 52-week highs, 76 stocks at 52-week lows as Nifty 50, Sensex end lower

Stock market today: On Wednesday, 176 stocks hit their 52-week highs, including Aadhar Housing Finance Ltd, Aditya Birla Capital Ltd, Amber Enterprises India Ltd, Asahi India Glass Ltd, Bajaj Finance Ltd, Canara Bank, Indian Bank, JSW Steel Ltd, Maruti Suzuki India Ltd, Muthoot Finance Ltd, State Bank of India, Tata Investment Corporation Ltd, and Tata Steel Ltd.

In contrast, 76 stocks touched 52-week lows, with notable names like Crompton Greaves Consumer Electricals Ltd, Praj Industries Ltd, Aurionpro Solutions Ltd, Ganesha Ecosphere Ltd, Quess Corp Ltd, Spicejet Ltd, and Symphony Ltd.

India's stock market indices experienced declines for the fourth straight day on Wednesday, marking their longest period of losses since mid-July, as worries about the effects of US visa restrictions continued to impact sentiment.

The Nifty 50 decreased by 0.45% to end at 25,056.90, while the BSE Sensex fell 0.47% to close at 81,715.63.

Over the past four sessions, the 50-stock index has dipped 1.4%, with the Sensex experiencing a 1.6% decline.

The information technology index dropped 0.7%, bringing its total losses to 4.3% since the US introduced a $100,000 fee for new H-1B visa applications on Sunday. Reports indicate that the market capitalization of the 10 companies within this sub-index has decreased by 1.2 trillion rupees ($13.5 billion) this week.

The IT sector, which depends heavily on US revenue, often sends employees to work directly with clients on-site. On Tuesday, the US presented a proposal aimed at revising the H-1B visa selection process to prioritize more highly-skilled and better-compensated applicants.

India is also looking to expedite discussions for a trade agreement with the US following the latter's implementation of tariffs as high as 50% on its exports.

(more to come)

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