41 stocks hit 52-week lows, 66 stocks at 52-week highs as stock market rebounds on US tariff reprieve

Stock market today: On Friday, 66 stocks hit their 52-week high, including Chambal Fertilisers & Chemicals Ltd, Coromandel International Ltd, India Shelter Finance Corporation Ltd, Keynote Financial Services Ltd, NACL Industries Ltd, Tecil Chemicals & Hydro Power Ltd, and Vadilal Industries Ltd.

In contrast, 41 stocks touched 52-week lows, including some notable names like AU Small Finance Bank Ltd, Colgate Palmolive (India) Ltd, Hero MotoCorp Ltd, LTIMindtree Ltd, and Titan Company Ltd.

The benchmark Sensex jumped 1,310 points, or 1.77%, to finish at 75,157.26. Meanwhile, the Nifty 50 increased by 1.92%, closing at 22,828.55 on Friday. Both indices ended the week down by 0.3%. The rally followed a 90-day suspension of additional tariffs on India until July 9 this year by the US.

On April 2, US President Donald Trump imposed universal duties on about 60 countries exporting goods to America, along with hefty additional tariffs on nations like India, which could affect the sales of items ranging from shrimp to steel in the largest economy in the world.

Vinod Nair, the Head of Research at Geojit Investments Limited, noted that the unexpected suspension of reciprocal tariffs by the US has provided a sense of relief amidst ongoing uncertainty. 

“Despite the IT major's results falling short of market expectations, there is a sense of optimism for the latter half of FY26 due to an increase in the order book. Any progress in bilateral trade discussions could significantly impact the short-term outlook for export-oriented sectors. The favourable domestic conditions, including declining interest rates and a steady inflation trend, are motivating investors to consider a balanced portfolio that can enhance risk-reward dynamics over the long term,” Nair added.

Nifty 50 Outlook

According to Rupak De, Senior Technical Analyst at LKP Securities, Nifty 50 faced resistance around the 21-EMA on the daily timeframe, leading to a close off the day’s high. The trend appears bearish unless it decisively moves above 23,000, where significant open interest has been added, he said.

“On the downside, support is placed at 22,750; a break below this level could intensify the bearish sentiment. Conversely, a decisive move above 23,000 may trigger a rally towards 23,500, as suggested by the positive divergence in the RSI,” De added.

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.