Stock market today: 182 stocks hit 52-week highs, 57 stocks at 52-week low as Nifty 50, Sensex end lower for 4th session

Benchmark Indices Fall for Fourth Straight Day

Mumbai, July 14 — Indian equity markets ended in the red for the fourth consecutive trading session on Monday as both the Nifty 50 and the BSE Sensex registered losses amid mixed global cues, rising oil prices, and continued profit-booking by investors. The Sensex closed down by 234.45 points, or 0.31%, at 74,503.54, while the Nifty 50 declined 70.20 points, or 0.28%, to end at 22,702.25.

The broader market, however, painted a contrasting picture with strong momentum in select pockets, especially in mid-cap and small-cap stocks. 182 stocks hit fresh 52-week highs, reflecting underlying bullish sentiment in certain sectors, while 57 stocks touched 52-week lows, indicating pressure in other areas.

Market Breadth Remains Positive Despite Index Fall

Despite the drop in benchmark indices, market breadth on the NSE remained largely positive. 1,350 stocks advanced, while 1,080 declined and 91 remained unchanged, according to NSE data. This divergence between index performance and broader market action suggests rotation of funds into select sectors, primarily energy, FMCG, and PSU banks.

Key gainers in today’s trade included Power Grid Corporation, NTPC, and Coal India, while top losers were Infosys, HCLTech, and HDFC Bank.

Sectoral Trends: IT and Banks Weigh on Indices

Sectorally, Nifty IT and Nifty Bank dragged the indices lower. The Nifty IT index declined 1.1%, led by weakness in heavyweight names like Infosys and HCLTech. Market participants attributed the correction to muted global tech spending outlook and cautious management commentary post-earnings.

The Bank Nifty index also dropped by 0.42%, reflecting investor concerns over rising interest rates and a potential slowdown in credit growth in the upcoming quarters. In contrast, Nifty Energy and Nifty FMCG ended with gains, backed by favorable demand trends and stable earnings outlook.

Global Cues and Crude Oil Trends Impact Sentiment

Global markets offered little support as investors reacted to a stronger-than-expected U.S. jobs report and hawkish commentary from Federal Reserve officials, dimming hopes of an early rate cut. Asian peers such as Nikkei 225 and Hang Seng traded flat to negative, while European markets opened on a cautious note.

Brent crude prices inched up to $86.40 per barrel, adding pressure on oil-importing countries like India. Analysts believe rising crude prices could stoke inflation concerns and impact fiscal planning in the second half of FY25.

Technical View and Key Support Levels

According to Ajit Mishra, SVP - Technical Research, Religare Broking:

“The Nifty has breached the immediate support zone of 22,750 and may test 22,600 in the near term. If selling intensifies, a deeper correction toward 22,400 cannot be ruled out. Traders should maintain a cautious stance and consider hedging long positions.”

The Sensex, too, is facing resistance near the 75,000 mark and could retrace toward 73,800 if selling persists.

Highs and Lows: A Tale of Two Markets

The fact that 182 stocks touched 52-week highs reflects continued interest in certain pockets of the market, especially defensive sectors and capital-intensive businesses. Names like Mazagon Dock, RVNL, HAL, Bharat Dynamics, and Adani Power were among the prominent ones hitting yearly peaks, fueled by sustained FII interest and policy tailwinds in the defense and infrastructure sectors.

Conversely, 57 stocks hit 52-week lows, including some from the small-cap pharma and consumer discretionary space. This suggests continued underperformance in select micro-cap counters, where valuations remain under pressure.

Investor Outlook: Volatility Ahead

Despite today’s decline, market experts maintain a cautiously optimistic stance. According to Vinod Nair, Head of Research at Geojit Financial Services:

“While the Nifty and Sensex may see short-term correction due to global factors, the domestic economic outlook remains robust. Investors should focus on stock-specific opportunities, especially in mid-cap and PSU space, which continue to show strength.”

Nair also added that the upcoming Q1FY25 earnings season will likely set the tone for market direction in the short term.

FII and DII Activity

Foreign institutional investors (FIIs) were net sellers in the cash segment today, offloading equities worth ₹980 crore, as per provisional NSE data. Domestic institutional investors (DIIs), however, remained net buyers, supporting the market with net purchases worth ₹1,100 crore, signaling faith in long-term fundamentals.

While the broader market remains resilient, the underperformance in index heavyweights and global uncertainties may cap further upside in the near term. With multiple stocks at their 52-week highs and a healthy market breadth, investors are advised to adopt a balanced approach, focusing on sectors with strong earnings visibility and government policy support.

The upcoming earnings announcements, monsoon progression, and global macro indicators will be the key triggers for the market in the coming weeks.