55 stocks hit 52-week lows, 155 stocks at 52-week high as Nifty 50, Sensex end in green led by autos, banking

Stock market today: On Tuesday, 155 stocks hit their 52-week highs, including Aadhar Housing Finance Ltd, Authum Investment & Infrastructure Ltd, Anand Rathi Wealth Ltd, Dalmia Bharat Ltd, Eicher Motors Ltd, Fortis Healthcare Ltd, Godfrey Phillips India Ltd, JSW Steel Ltd, Manappuram Finance Ltd, Maruti Suzuki India Ltd, and Zydus Wellness Ltd.

In contrast, 55 stocks touched 52-week lows, with notable mentions Alphalogic Techsys Ltd, Anik Industries Ltd, Dhruv Consultancy Services Ltd, and Medicamen Biotech Ltd.

Today, the Indian stock markets closed with strong upward momentum, fueled by significant buying in banking and auto sectors, as well as positive sentiment regarding domestic trade and an improvement in global conditions. Both main indices experienced solid gains, with the Sensex jumping 595 points (0.73%) to finish at 82,380, while the Nifty 50 increased by 170 points (0.68%) to reach 25,239, indicating a notable rebound following a lackluster previous session.

Vaibhav Vidwani, Research Analyst at Bonanza mentioned that the rally was mainly driven by prominent banks like Kotak Mahindra Bank and Axis Bank, along with significant automotive stocks such as Maruti Suzuki, Mahindra & Mahindra, and Eicher Motors.

Investor sentiment was uplifted by encouraging signals from Asia and the US, particularly as global markets reacted positively to advancements in trade discussions between the US and China, as well as between India and the US.

Small-cap stocks continued to excel, with considerable gains observed in the auto, banking, and media sectors. Moreover, the stability of commodity prices and low volatility contributed to a risk-on atmosphere throughout the day.

“We expect stock-specific moves to continue, especially ir sectors showing earnings resilience and benefiting from favourable policy signals. Overall, the strong market close shows growing confidence and keeps Indian stocks in a good position for the rest of the week, as investors wait for news on global interest rates and trade updates,” said Vaibhav Vidwani.

Nifty 50 Outlook

According to Rupak De, Senior Technical Analyst at LKP Securities, Nifty 50 has given a double bottom breakout on the daily timeframe, indicating rising optimism. The index has been sustaining above the 21EMA, confirming a continuation of the uptrend.

Additionally, the RSI has moved above its previous swing high, further supporting bullish momentum. In the short term, the trend is likely to remain strong, with potential upside towards 25,500 and beyond. On the downside, support is placed at 25,000, and a break below this level could signal the end of the current rally, according to De.

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