Stock market today: 84 stocks hit 52-week lows, 164 stocks at 52-week high as Nifty 50, Sensex end in green

Stock market today: On Monday, 164 stocks hit their 52-week high, including Authum Investment & Infrastructure Ltd, Cummins India Ltd, Delhivery Ltd, HDFC Asset Management Company Ltd, Jindal Stainless Ltd, Mahindra & Mahindra Ltd, Maruti Suzuki India Ltd, FSN E-Commerce Ventures Ltd, TVS Motor Company Ltd, and UPL Ltd.

In contrast, 84 stocks touched 52-week lows, with notable mentions Affordable Robotic & Automation Ltd, Bajaj Steel Industries Ltd, Hindusthan National Glass & Industries Ltd, Praveg Ltd, R K Swamy Ltd, Sharika Enterprises Ltd, Sprayking Ltd, and EMS Ltd.

Today, Indian stock indices ended on a positive note, with the Sensex gaining 329 points to close above 81,635, while the Nifty wrapped up above the key 24,950 mark, driven by advances in Realty and Metal sectors.

Investor sentiment was lifted by hopes of a possible interest rate reduction hinted at by the US Federal Reserve and reassuring statements from RBI Governor Sanjay Malhotra regarding India's path to becoming the world’s third-largest economy, as noted by analysts.

Vaibhav Vidwani, a Research Analyst at Bonanza, noted that Fitch’s decision to affirm India's sovereign rating also added to the positive sentiment. Looking forward, investors will pay close attention to global indicators, such as US GDP figures, the PCE price index, and India’s upcoming quarterly GDP report. There is considerable expectation for a resolution regarding outstanding tariff decisions and more information on GST 2.0 reforms.

The upward trend is expected to continue as long as domestic fundamentals remain strong. Sectors reliant on domestic demand and digital transformation are predicted to excel, while export-oriented sectors may encounter challenges due to shifting global policies.

According to Rupak De, Senior Technical Analyst at LKP Securities, the Indian equities remained strong, tracking global cues, as the dovish speech by Fed Chair Jerome Powell boosted risk-on sentiment. However, the Nifty 50 fell short of the 25,000 mark, closing slightly below it. The sentiment remains positive as long as the index holds above 24,800.

“In the near term, particularly on Tuesday, the Indian market may trade sideways as traders await the final verdict on Trump’s additional 25% tariff decision on 27th August. The Nifty 50 is expected to remain within the range of 24,800–25,150 before any decisive directional move,” said De.

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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