67 stocks hit 52-week highs, 70 stocks at 52-week lows as Sensex, Nifty 50 ends in red
Stock market today: On Thursday, 67 stocks hit their 52-week high, including Anupam Rasayan India Ltd, Bharti Hexacom Ltd, ICICI Bank Ltd, Marico Ltd, Ceat Ltd, Choice International Ltd, K.P.R. Mill Ltd, and Navin Fluorine International Ltd.
In contrast, 70 stocks touched 52-week lows, including some notable names like Jindal Saw Ltd, Vedant Fashions Ltd, Ramkrishna Forgings Ltd, and Syngene International Ltd.
The Indian stock market experienced a downturn today, with the Nifty 50 index declining roughly 0.58% to 24,273.8 points, a drop of about 140 points from the prior closing. The Sensex also fell, finishing around 411 points lower at 80,334.
One of the primary factors contributing to the market’s decline was the mixed signals from global markets. The Nifty Metal sector was the biggest loser, falling 2.09%, whereas the Nifty IT sector recorded slight gains.
Vinod Nair, Head of Research at Geojit Investments, noted that the Indian stock market saw profit taking towards the close of trading, driven by rising tensions between India and Pakistan, which included increased cross-border exchanges.
According to Nair, the FOMC policy meeting did not provide much comfort, as the FED raised concerns that aggressive tariffs from the US could lead to higher inflation and increased unemployment. Nonetheless, the global market remains robust and optimistic, supported by hopes for a forthcoming trade agreement between the US and the UK, along with initial signs of trade discussions with China. Traditionally, domestic volatility is anticipated to settle as the cross-border situation calms down.
