Sensex jumps over 300 points, Nifty 50 ends above 25,200; 171 stocks at 52-week high, 105 stocks hit 52-week lows

Stock market today: On Friday, 171 stocks hit their 52-week highs, including Eternal Ltd, Gujarat Mineral Development Corporation Ltd, Indian Bank, FSN E-Commerce Ventures Ltd, Punjab National Bank, Polycab India Ltd, RBL Bank Ltd, State Bank of India, Usha Martin Ltd, and Yes Bank Ltd.

In contrast, 105 stocks touched 52-week lows, with notable mentions Clean Science and Technology Ltd, Westlife Foodworld Ltd, Ganesh Housing Ltd, Route Mobile Ltd, and Tips Music Ltd.

The Indian stock market concluded the day with gains, as the Sensex climbed by 329 points, or 0.40%, finishing at 82,500, while the Nifty 50 increased by 104 points, or 0.41%, closing at 25,285. The positive market outcome was largely attributed to decreasing geopolitical tensions following the peace agreement in Gaza, which alleviated global risk concerns, according to experts. Furthermore, renewed confidence regarding an upcoming trade deal between the US and India further enhanced investor sentiment.

Moreover, analysts suggest that heightened purchasing interest from foreign institutional investors in recent days has bolstered the increases, coupled with solid demand in sectors like real estate, banking, pharmaceuticals, fast-moving consumer goods, and consumer durables. On the other hand, metal stocks fell due to concerns over supply.

“Looking ahead, the Indian market is expected to maintain its positive momentum supported by easing global tensions and the anticipation of favorable trade agreements. Investors will keep a close watch on upcoming corporate earnings, especially in IT and financial sectors, to confirm growth trends. The festive season and IPO liquidity inflows are likely to sustain buying interest. Nevertheless, vigilance is warranted against potential volatility from global macroeconomic developments and sector specific challenges,” said Abhinav Tiwari, Research Analyst at Bonanza.

Nifty 50 Outlook

According to Rupak De, Senior Technical Analyst at LKP Securities, the Nifty 50 remained strong on Friday as it broke out of the recent consolidation range. The trend continues to stay positive as it is sustaining above critical moving average.

The setup looks favourable for a further rise in the short term. Any dip would provide a good opportunity to enter long trades. On the higher end, the Nifty 50 may move towards 25,500–25,550, while on the lower end, support is placed at 25,150. A fall below 25,150 could weaken the trend slightly.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.