48 stocks hit 52-week lows, 115 stocks at 52-week highs as stock market ends higher for fifth straight session

Stock market today: On Monday, 91 stocks hit their 52-week high, Bajaj Finserv, Bajaj Finance, Bharti Airtel, Cholamandalam Investment and Finance Company, Eicher Motors, HDFC Bank, ICICI Bank, InterGlobe Aviation (IndiGo), Kotak Mahindra Bank, and Shree Cement.

In contrast, 48 stocks touched 52-week lows, including some notable names like Sai Silks (Kalamandir), Popular Vehicles and Services, and Uma Exports.

The Indian stock market finished on a positive note, with the Sensex climbing approximately 855 points (1.09%) to reach 79,408, while the Nifty 50 increased by 273 points (1.15%) to 24,125, marking a strong five-day rally that may be the most substantial since February 2021.

The Bank Nifty was a significant contributor to the gains, soaring nearly 1.87% to 55,304, spurred by robust Q4 earnings from leading private sector banks. Prominent sectors driving the rise included banking, IT, and asset management companies (AMCs), with HDFC AMC shares soaring by 5.73% following steady quarterly results.

Broader markets also marched higher with strength as Nifty Small-cap and Midcap-cap indices gaining 2.50% and 2.21% respectively.

“The continued weakness in the US Dollar Index, which slipped below the 98 mark today, is further reinforcing positive sentiment in the Indian market. There is optimism over US Vice President JD Vance’s four-day visit to India on hopes of a bilateral trade deal between the two countries. We expect positive momentum to continue in the market, supported by strong domestic cues with stock/sector specific movements on the back of ongoing Q4 earnings announcements. Key results tomorrow include HCL Tech, Havells, AU Small Finance Bank, Tata Communications, Waaree Energies amongst others,” said Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd.

Nifty 50 Outlook

According to Rupak De, Senior Technical Analyst at LKP Securities, the Nifty 50 has given a clean breakout above the previous swing high on the daily chart as optimism among investors increases. Sentiment is expected to remain positive as long as the index sustains above the critical moving average. Moreover, the Nifty 50 has moved above the critical resistance of 24,100; therefore, it looks well on track to reach the 24,450–24,500 zone in the short term. On the lower end, support is placed at 23,850.

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.