Stock Market Today: 36 Stocks Hit 52-Week Lows, 122 at Highs as Nifty 50, Sensex End Higher

Markets Close Higher Amid Mixed Breadth; Nifty, Sensex Rise for Second Session

Indian benchmark indices closed on a positive note on Wednesday, driven by strength in financials, IT, and select FMCG stocks. However, the broader market painted a mixed picture as 36 stocks hit their 52-week lows even as 122 stocks touched fresh 52-week highs, highlighting the stock-specific nature of the current rally.

The BSE Sensex rose 164.57 points to close at 76,584.15, while the Nifty 50 ended higher by 56.25 points at 23,287.35. Gains in heavyweights like HDFC Bank, TCS, and Reliance Industries contributed to the upmove, although midcaps and smallcaps remained volatile.

Sectoral Performance: IT and Bank Stocks Lead the Rally

The Nifty Bank index outperformed, supported by strong movement in Axis Bank, ICICI Bank, and HDFC Bank. The Nifty IT index also saw solid buying as global tech cues turned favorable amid hopes of easing U.S. rate pressures.

On the flip side, metal stocks came under pressure due to profit-booking after a sharp run-up in recent weeks. Pharma and FMCG traded largely flat, with stock-specific actions dominating the space.

“While the headline indices are making new highs, the breadth is not uniformly positive. Investors are rotating out of recent outperformers and repositioning into sectors with better valuation comfort,” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities.

52-Week Highs and Lows: A Tale of Two Markets

A total of 122 stocks on the NSE hit their 52-week highs, signaling strong momentum and bullish sentiment in specific pockets like capital goods, auto ancillaries, and select PSU stocks.

Notable gainers at 52-week highs included:

• Mazagon Dock Shipbuilders

• Indian Bank

• RVNL

• Tata Elxsi

• Polycab India

Meanwhile, 36 stocks fell to their 52-week lows, reflecting stress in sectors such as real estate, microfinance, and telecom-linked infrastructure.

Among the laggards hitting 52-week lows were:

• Vodafone Idea

• Indiabulls Real Estate

• Suzlon Energy

• Ujjivan Financial Services

“This divergence between the highs and lows illustrates the market’s selective bullishness. Fundamentally weak or over-leveraged companies continue to be punished despite the index-level optimism,” explained Amit Goel, Chief Research Analyst at Pace360.

Global Cues Remain Supportive

Global markets offered a mildly supportive backdrop, with U.S. equities trading stable ahead of crucial CPI inflation data and the Federal Reserve's policy commentary later this week. Asian markets, including Japan and South Korea, posted modest gains, contributing to the positive opening for Indian markets.

Crude oil prices remained range-bound near $82 per barrel, while the rupee ended marginally stronger at 83.12 against the U.S. dollar.

Market Breadth and Volume Action

The market breadth on NSE remained slightly positive, with 1,348 stocks advancing, 1,212 declining, and 105 remaining unchanged. Total turnover on BSE crossed ₹1.55 lakh crore, driven by brisk activity in midcap and thematic sectors like defense, EVs, and renewables.

The India VIX, a measure of market volatility, dipped 3.1% to 11.92, indicating a relatively stable risk environment.

Technical View: Nifty Approaching Resistance

From a technical standpoint, the Nifty 50 is trading near a crucial resistance zone of 23,300–23,350. Analysts caution against aggressive long positions until a clear breakout is visible.

“The index has a strong support near 23,050. A sustained move above 23,350 could open the gates for 23,700–23,800 levels. However, traders should remain cautious due to the divergence in the broader market,” said Rupak De, Senior Technical Analyst at LKP Securities.

Investor Outlook: Selective Buying the Key

While the headline indices continue their upward trajectory, analysts advise investors to remain stock-specific and avoid chasing momentum blindly.

“It’s not a broad-based bull market anymore. Valuations in some pockets are stretched. Investors should focus on earnings visibility, balance sheet health, and avoid highly-leveraged or speculative names,” said Neeraj Chadha, Portfolio Manager at AlphaEdge Capital.

Upcoming macroeconomic triggers such as India’s CPI and WPI inflation, U.S. Fed commentary, and monsoon progression are expected to influence near-term sentiment.

As the benchmark indices scale new peaks, the mixed breadth of the market reflects underlying caution among investors. With over 120 stocks at their yearly highs and 36 at their lows, the market appears to be rewarding companies with strong fundamentals and punishing laggards. Traders are advised to maintain a balanced approach, focus on sector rotation, and watch key levels on the Nifty for signs of further direction.