29 stocks hit 52-week lows, 85 stocks at 52-week highs as stock market ends in green for the sixth straight session

Stock market today: On Tuesday, 85 stocks hit their 52-week high, Bajaj Finance, Eicher Motors, HDFC Bank, InterGlobe Aviation, Kotak Mahindra Bank, and SRF.

In contrast, 29 stocks touched 52-week lows, including some notable names like Sai Silks (Kalamandir), Jhandewalas Foods, and Omnipotent Industries.

Benchmark indices Sensex and Nifty 50 continued their upward trend for the sixth consecutive day, while the broader indices outperformed. On April 22, the market rally was primarily driven by the financial, metal sector, and continuous foreign fund inflows.

The 30-share BSE Sensex increased by 187.09 points, which is a rise of 0.24 percent, closing at 79,595.59. Throughout the day, it surged by 415.8 points, equivalent to 0.52 percent, reaching a high of 79,824.30.

Vinod Nair, the Head of Research at Geojit Investments Limited, mentioned that despite unfavorable global indicators concerning tensions between Trump and the Fed, the domestic market has retained its optimism. The Reserve Bank of India’s eased guidelines on liquidity coverage ratios, which are expected to promote credit growth, have positively impacted the financial sector.

Foreign investments have remained steady for the fourth consecutive day, fueled by a weakening dollar and attractive valuations. Moreover, the domestic macroeconomic environment is on the rise, with falling inflation and increasing expectations for additional rate cuts by the RBI, which should reduce costs and enhance demand. These elements are anticipated to bolster corporate earnings in FY26, explained Nair.

Nifty 50 Outlook

According to Rupak De, Senior Technical Analyst at LKP Securities, Nifty 50 remained mostly range-bound as the index closed with a small-bodied, indecisive candle. Although the index stayed above the 200DMA throughout the day, the rise remained limited.

“Going forward, the trend continues to look optimistic, at least as long as it does not fall decisively below 24,000. On the higher side, the short-term bullish outlook remains intact, with the possibility of a move towards 24,500. On the lower side, support is placed at 24,000; a break below this level could trigger a minor pullback,” said De.

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