Stock market today: AU Small Finance Bank to Titan— 489 BSE-listed shares hit 52-week low. Do you own any?

Stock market today: AU Small Finance Bank, Colgate-Palmolive, Hero Motocorp, LTIMindtree, and Titan hit their 52-week lows during intraday trading on the BSE on Monday, March 17. Amid an overall turbulent market session, several key financial stocks helped push India's benchmark equity indexes upward on Monday, aided by positive global signals, opportunistic buying, and specific stock movements.

The Nifty 50 rose by 0.50% to 22,508.75, while the Sensex finished 0.46% higher at 74,169.95. Financials accounted for approximately two-thirds of the increase in the Nifty 50.

Allcargo Logistics, Bajaj Electricals, ideaForge Technology, Infibeam Avenues, Raymond, Senco Gold, Tata Elxsi, Tata Technologies, TTK Prestige, V I P Industries were also among the stocks that reached their lowest levels in a year.

The domestic benchmark indices, Nifty 50 and Sensex, ended positively, with the Sensex finishing at roughly 74,189, an increase of around 341 points, while Nifty 50 wrapped up at about 22,508, gaining 111 points. This rise was bolstered by a recovery in global markets and favourable domestic economic indicators, including a GDP growth rate of 6.2% for Q3 FY25 and a reduction in February CPI inflation to 3.61%, according to experts.

In terms of sectors, Nifty Pharma and Healthcare were the top performers with a rise of 1.56%, trailed by Nifty Metal. Conversely, IT stocks such as Infosys and Wipro experienced pressure, dropping by 6% and 7% respectively over the last week.

The near-term trajectory of the market is anticipated to stay stable with an upward inclination, although global uncertainties and trade tensions may affect investor sentiment. Notable stocks such as IndusInd Bank and Apollo Hospitals garnered attention, with IndusInd Bank regaining some losses after a considerable decline earlier in the week, according to Vaibhav Vidwani, Research Analyst at Bonanza.

Technical Views

According to Rupak De, Senior Technical Analyst at LKP Securities, the Nifty 50 mostly remained sideways before closing with a gain. On the hourly chart, the index has given a symmetrical triangle breakout, indicating positivity in the short term. The index might move towards 22,670/22,880 in the near term. On the lower end, support is placed at 22,350, below which the index might see some weakness.

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.